By Patricia Pascuzzo Industry insistence on the inclusion in proposed legislation of a “comfortable” income target for superannuation is putting at risk the need to establish clarity about the goal for super and could lower the living standards of working families. Acting on the recommendations of the Murray inquiry into the financial system, the federal… Read More
The federal government’s recent deal on reforming superannuation tax concessions may have taken some political heat out of the issue, but the challenge of building a more sustainable retirement income system looms larger than ever, writes Patricia Pascuzzo.
Most Australians will struggle to save enough for a comfortable retirement or even to meet their aged care costs, according to research commissioned by the CSRI and carried out by Phil Gallagher of Industry Super Australia, formerly the retirement income modeler at Federal Treasury for 21 years. “These results are a wake-up call to policymakers,”… Read More