Former ACTU secretary Bill Kelty has urged the federal government to press ahead with the legislated increase in the superannuation guarantee from 9.5% to 12%. Kelty has also told a conference hosted by the ACTU that serious consideration should be given to increasing it to 15% in order to take into account the fact that more Australians are living into their 80s and 90s:
Mr Kelty, a former secretary of the ACTU, said the “best system” for retirement income would be a model where employees are forced to carve off 15 per cent of their wages into superannuation, with the 3 percentage points on top of the legislated 12 per cent specifically earmarked for dealing with longevity…
“Over the course of the next decade or more, people will regret not going to 15 per cent,” Mr Kelty said. “People are already starting to regret not having the best system for the aged”…
