Peter Costello criticises Govt for superannuation tinkering

The Government needs to remember that superannuation is a long-term investment and stop tinkering with the rules, according to former Liberal Treasurer Peter Costello.

Addressing an IOOF adviser briefing, Costello said he could not understand why the Government had tinkered with the superannuation rules across a succession of Federal Budgets.

"I do not know why they changed rules, which were good rules," he said. "By doing so they undermine confidence in superannuation."

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Costello said superannuation had to be seen as a 40-year investment requiring a stable legislative environment.

"You cannot blame people for lacking confidence if you keep changing the rules," he said.




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