The only way to ensure Australian workers have dignity in retirement is for the Government to deliver on its promise to increase the super guarantee rate to 12 per cent, Industry Super Australia (ISA) says.
In its submission to the Retirement Income Review, ISA argues that with too many Australians – particularly women – retiring with not enough super, sticking with the legislated increase to 12 per cent is central to improving the adequacy of the system.
ISA analysis shows more than 8 million Australians could be worse off in retirement if the super rate is cut, losing more than $14.1 billion in super a year, or around $1,630 a year for the average person.
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