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Calls to back superannuation rise

THE ACTU and the Australian Institute of Superannuation Trustees are calling on Federal Parliament to pass legislation to up superannuation, and they’re not alone in their quest as recent national polling revealing 75% of Australians want superannuation lifted to 12%.

The ACTU has sent a petition signed by more than 6000 Australians to Superannuation Minister Bill Shorten calling for the legislation to be passed.

ACTU President Ged Kearney said the average 25-year-old worker could gain an extra $143,000 in retirement savings from a move to increase the Superannuation Guarantee from 9% to 12%, and more than 8 million working Australians would be better off in retirement.

“It is time for all Parliamentarians, including the Liberals, Nationals, Greens and Independents, to stop putting at risk the retirement savings of working Australians,” Ms Kearney said.

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