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9 Jan 11:31pm

Labor rejects call to freeze superannuation rate until flaws fixed

The Guardian
Productivity Commission report proposes major changes to super system that could see workers retire with an extra $500,000 Labor has rejected a recommendation to freeze the compulsory superannuation rate at 9.5% until flaws in the super system have been fixed, saying the rate could still be increased to 12% while the system is being reformed. It has also pushed back against a proposal to create an official list of the top 10 performing superannuation funds to help workers better navigate the super system, saying the idea could have unintended consequences.
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