Grattan Institute says increasing contributions from 9.5% could also hit pension payments for low-income earners

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Increasing the superannuation guarantee to 12% will reduce workers’ wages and could actually hurt the retirement incomes of low-paid workers, the Grattan Institute has warned.

The finance and services minister, Kelly O’Dwyer, gave a strong indication in early April that the Coalition would keep the guarantee frozen at 9.5% in the budget, when she argued that lifting the guarantee would exacerbate sluggish wage growth.

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Read More Boosting compulsory super to 12% could hurt wages, report warns

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