Super Guarantee Freeze: Less For Your Retirement
Most superannuation experts agree that 9% superannuation contributions is not enough to build an account balance for a comfortable retirement.
The challenge has long been to lift the 9% contribution to 12%, but unfortunately Coalition Governments have a track record of freezing or delaying increases in superannuation contributions.
Despite the Keating Government unveiling an increase in super from 9% to 12% of earnings in 1995, John Howard (Prime Minister 1996-2007) successfully stalled any increase in superannuation contributions for more than 11 years.
It was left to the Gillard Government to legislate a timetable to achieve the 12% contribution for working Australians.