Business Services Industry
Superannuation opt-out still needed.
Australasian Business Intelligence, June, 2007
Jun 06, 2007 (InFinance - ABIX via COMTEX) -- The Australian Government needs to provide further incentives for retirement saving. The 2007-08 Budget provided some "one-off" encouragement but structural reform is needed. Financial Services Institute of Australasia (Finsia) believes that the government should consider a voluntary opt-out three per cent superannuation contribution, on top of the compulsory nine per cent contribution. Economic modelling shows that this would increase the retirement savings pool and considerably benefit participants.
Publication Date: June 2007
FINANCIAL SERVICES INSTITUTE OF AUSTRALASIA
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