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“We don’t want to see another class of poverty in retirement”

The Federal Government wants to increase compulsory super from 9.5% to 12% but not every Liberal MP is on board. NSW senator Andrew Bragg used his maiden speech to say super should be voluntary for anyone earning less than $50,000. He believes the system isn’t working and people would be better off choosing for themselves whether to pocket the cash now or not.

Australian Institute of Superannuation Trustees CEO Eva Scheerlinck spoke to Oliver Peterson to hit back saying this only consigns them to years of poverty in retirement.

 

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