The superannuation industry has returned fire on the Grattan Institute’s retirement report which calls for plans to increase the compulsory super guarantee to 12% to be shelved. They warn that more Australians would have lower living standards in retirement and be dependent on the age pension if the Grattan Institute’s proposal is adopted. From The AFR:
“The Grattan Institute wants to dismantle our world-class retirement funding system and replace it with a model that has two-thirds of the population relying on the age pension”, Association of Superannuation Funds of Australia (ASFA) chief executive Martin Fahy said…
