The government’s retirement incomes review should concentrate on boosting rent assistance and Newstart and fixing the pension assets test. These would achieve more than boosting super.
Michelle Grattan on the week in politics, including the travel ban, the royal commission into the bushfires, and labor’s stance on a compulsory superannuation guarantee and zero emissions by 2050.
In a speech on older Australians released ahead of its Wednesday delivery, Anthony Albanese claims that, with economic growth and productivity, Australians could see higher super and higher wages.
An examination of 80,000 enterprise bargaining agreements finds that on average 80% of each increase in compulsory super has been at the expense of wages.
Josh Frydenberg’s review of the retirement income system will have to consider the growing hole caused by our decisions to delay buying homes for longer and longer.
The inquiry will find we force workers to sacrifice income, pay tens of billions in super tax concessions, and still pay out one in every ten dollars of government earnings on pensions.
Don’t blame the global financial crisis. The Australian art market has performed poorly over the last decade - but there is plenty of growth potential.
“The need for change is undeniable,” says Treasurer Josh Frydenberg, issuing a timetable for dealing with recommendations from the royal commission into banking, superannuation and financial services.
A new Grattan Institute study finds that for the first time in a long time, young Australians are no better off than those who came before, and are likely to do worse.
Liberal senator Andrew Bragg is one of the Coalition backbenchers who oppose the scheduled superannuation guarantee rise to 12%. They are looking to the retirement incomes inquiry to leverage change.