Bill Shorten is confident Federal Parliament will pass a bill boosting compulsory superannuation to 12 per cent from 9 per cent, adding it was necessary so Australians don’t retire poor.

“Nine per cent super is simply not enough to retire on comfortably,” Shorten’s office says in an email to I&T News. “The increase in super to 12 per cent will improve the adequacy of retirement incomes.”

The Opposition will not repeal 12 per cent compulsory superannuation if it wins power at the next election. Previously the opposition opposed it. Senator Mathias Cormann, the opposition’s spokesman on superannuation, didn’t return calls seeking comment.

Parliament next sits on November 21. Shorten’s office won’t give a date as to when parliament will vote on 12 per cent superannuation.

2 comments on “Bill Shorten confident 12% superannuation will pass parliament”
  1. It really is no surprise that on grilling yesterday, the Government finally admitted that it was largely employers picking up the tab rather than the proceeds of the MRRT for the move from 9% to 12%.

    It is a tragedy that in the time when we should be looking most to trust a government intent on putting through superannuation reform for its finest hour, that we have some of the most self-interested individuals ever to walk the halls of Parliament (to the point of blatant lies) supposedly leading the charge.

    It is time for the industry to take the lead before they cause permanent damage not only to our reputation, but to the super system itself.

  2. It really is no surprise that on grilling yesterday, the Government finally admitted that it was largely employers picking up the tab rather than the proceeds of the MRRT for the move from 9% to 12%.

    It is a tragedy that in the time when we should be looking most to trust a government intent on putting through superannuation reform for its finest hour, that we have some of the most self-interested individuals ever to walk the halls of Parliament (to the point of blatant lies) supposedly leading the charge.

    It is time for the industry to take the lead before they cause permanent damage not only to our reputation, but to the super system itself.

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