The peak industry super body is backing today's Turnbull Government decision to scrap plans to limit lifetime non-concessional super contributions to $500,000 and to instead reduce the current annual cap from $180,000 to $100,000.
The Productivity Commission is inviting submissions on whether its proposed objectives, criteria and indicators for assessing the competitiveness and efficiency of the nation's $2 trillion superannuation system are "fit for purpose".
The ACTU is calling for the next federal government to reduce the statutory age at which Indigenous workers can retire and access superannuation because they are currently "more likely to die than retire".
The NTEU has called on the UniSuper industry superannuation fund's chief executive officer, to withdraw his public statement opposing Labor's planned $53M royal commission into the finance sector.
The administrators of Clive Palmer's Queensland Nickel Pty Ltd have recommended the company be put into liquidation next week, opening the way for hundreds of sacked workers to be paid under the Federal Government's Fair Entitlements Guarantee.
The Victorian County Court has given suspended jail sentences to two former Cbus employees who pleaded guilty to giving false and misleading evidence to the Heydon Royal Commission.
The Productivity Commission is calling for submissions on the criteria it should use for assessing the efficiency and competitiveness of the superannuation system and its ability to deliver the best results for fund members and retirees.
The primary objective of superannuation is to provide retirement income to "substitute or supplement" the age pension, according to a Government proposal in a new discussion paper.
The Turnbull Government has played down a report that it plans to freeze employer superannuation contributions at the current 9.5%, scrapping the plan to increase the SGC to 12%.
