Monday 9 December 2019
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wn.com - 20 days ago

Higher superannuation rates not linked to lower wages, report finds

A fresh analysis has cast doubt on the common assumption that lifting the rate of compulsory superannuation automatically leads to lower wages, finding that average pay growth was actually higher in years when the super levy increased. The report, by the Centre for Future Work at the Australia Institute, finds there is no evidence for the prevailing view that there is an “automatic and complete tradeoff” between wages and super, and rejects calls from Liberal backbenchers to freeze in the superannuation guarantee at 9.5%, or even to make superannuation voluntary. The compulsory superannuation guarantee is set to increase from 9.5% to 12% in five annual increases starting on 1 July 2021, but...


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