Workers face $20b pay hit from superannuation rise

Original article by John Kehoe
The Australian Financial Review – Page: 3 : 3-May-19

The compulsory superannuation guarantee is slated to rise from 9.5 per cent to 12 per cent over stages between 2021 and 2025. However, the Productivity Commission recently called for any increase to be put on hold until an independent inquiry into the Australian retirement income system has been held, while the Grattan Institute argues that lifting the employer contribution to 12 per cent would cost workers $20 billion a year in take-home pay, as well as making wage growth even more sluggish than it already is.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, GRATTAN INSTITUTE, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

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