The government also needs to consider re-introducing incentives for people to save substantially more superannuation than they are at present. For people in midcareer, in almost all cases, the SGC regardless of the percentage will not be sufficient to provide adequate retirement income. Without increased superannuation savings, scores of Australians will have to rely on a welfare system that will be weighed down by an ageing population and increasing budgetary pressure. John Brogden is chief executive officer of IFSA
Opinion
The on- and off-stage antics at the extravagant Milken Global Conference in Los Angeles tell us a lot about where institutional capital is right on the money – and where it is putting its head in the sand. And while the event retains the extraordinary intellectual and financial firepower that has always been its signature, something has shifted. The absences are as instructive as what's on the program.
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