The Grattan Institute has previously argued against increasing the superannuation guarantee from 9.5% to 12%. It contends that the increase would cost workers $20 billion a year in forgone wages. However, the Association of Superannuation Funds of Australia (ASFA) has penned an article claiming that Grattan’s modelling is flawed and that most Aussies support raising the superannuation guarantee. From The AFR:
Increasing the super guarantee to 12 per cent is a way of ensuring the best future for all Australians. Refusing to move to 12 per cent condemns nearly 70 per cent of Australians to dependence on the age pension during retirement…
