Coalition paves way for scrapping planned rise in superannuation guarantee

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The Morrison government is laying the groundwork to scrap the already legislated increase to the superannuation guarantee, declaring the retirement income review has found current policy settings are suitable.

A summation of the retirement income review distributed by treasurer Josh Frydenberg’s office ahead of the report’s official release on Friday put greater emphasis on Australians using “voluntary savings”, including equity within their homes, ahead of raising compulsory superannuation contributions.

The prime minister, Scott Morrison, had committed to continuing the scheduled increase in superannuation, due to increase from 9.5% to 12% by 2025, at the last election, but has since walked back that pledge, signalling it now needed to be “carefully considered” given…

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