Super reform finds approval with Opposition

The Federal Opposition last week decided it would retain some of the Gillard government’s superannuation reforms if they become law. Coalition workplace relations spokesman Eric Abetz yesterday said if legislation to lift the super guarantee from 9 percent to 12 percent is passed, ‘our view is that it should be retained.’ The Australian Prudential Regulation Authority said employers last year contributed around $72 billion in super.

John Brogden, chief executive of the Financial Services Council, and David Whiteley, chief executive of the Industry Super Network, welcomed the Coalition decision. Both Opposition Leader Tony Abbott and treasury spokesman Joe Hockey have previously indicated support for increasing the super guarantee.

7 November 2011, David Crowe, Australian Financial Review


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