The Abbott Government has set to delay the planned increase in the superannuation guarantee – the amount that employers must contribute into employee’s super accounts – by three years in a bid to ease pressures on the Budget. From Peter Martin:
Superannuation contributions at present are set to climb from 9.5 per cent of salary to 12 per cent over the next five years. The Coalition wants to delay the next scheduled 0.5 percentage point increase for three years to ease pressure on the budget.
