The Federal Treasurer, Scott Morrison has sent a clear signal that the Government will not be altering the superannuation guarantee timetable in next week’s Budget.
Directly questioned about Grattan Institute criticism of lifting the superannuation guarantee to 12 per cent, Morrison said that the existing timetable had been in place for some time and any changes needed to be viewed in the context of the Budget.
However, he added that the SG was not an issue around which the Government had been proposing any changes.
His comments came amid further claims by the Grattan Institute that lifting the SG to 12 per cent would have a negative outcome on wages, and counter-claims by the Association of Superannuation Funds of Australia (ASFA) that the claims were ill-judged.
ASFA chief executive, Dr Martin Fahy accused the Grattan Institute of harbouring ideological hostility towards superannuation which was clouding the organisation’s judgement on retirement income policy.