The architect of Australia’s compulsory superannuation system has urged the federal government to raise Australia’s superannuation guarantee (i.e. compulsory superannuation contributions) from 9.5% to 12%, claiming it would compensate workers for productivity gains during a period of low wages growth. From The AFR:
Australia’s business community should back an immediate superannuation guarantee hike to 12 per cent to compensate workers for productivity gains lost through weak wages growth…
