A new report shines a light on the price that Australian workers are paying for this Liberal National Government’s freezes to the Superannuation Guarantee.
Per Capita’s “The Super Freeze: What You’ve Lost” report found that this Government’s 2014 super freeze has cost the average worker more than $4300 in retirement savings.
You don’t boost retirement incomes by cutting super.
The last time the Liberals and Nationals froze the Superannuation Guarantee wages growth didn’t pick up, we got record low wages growth instead.
The report claims real take-home pay for the median worker has actually declined since the instigation of the Superannuation Guarantee freeze.
Anyone who thinks cutting super again will make employers suddenly pay higher wages is kidding themselves.
Scott Morrison and Josh Frydenberg have an appalling record on wages and super.
Their Retirement Income Review should not be a stalking horse for more cuts to the pension and further delays to the legislated increase in the Superannuation Guarantee to 12 per cent.
Too many Australians retire without adequate retirement savings, which is why our super system needs to be strengthened and protected, not undermined.
Labor created our world-class superannuation system so every day Australians can have dignity in retirement, and we’ll always fight to protect it.