Nobody should cry over pause in super lift

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ScreenHunter_3969 Sep. 03 07.51

By Leith van Onselen

The whingers are out in force today bemoaning the Government’s decision yesterday, supported by the Palmer United Party (PUP), to delay the rise in compulsory superannuation by four years.

Under the change, the superannuation guarantee – the amount that employers must contribute into employees’ super accounts – will be frozen at 9.5% until 2021 before rising by 0.5% per year to 12%.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.