Australian Parliament

The Finance Sector Union is calling on finance workers to support the push for employer superannuation contributions to be increased to 12%.

We, the undersigned, seek your support to increase employer superannuation contributions to 12%.

This month, the Federal Government introduced a bill into Parliament which seeks to incrementally increase superannuation to 12% by July 2019. Financial experts, unions, and the Association of Superannuation Funds of Australia (ASFA) say that the current legislated superannuation contribution of 9% is not enough for Australians to secure a comfortable retirement. This bill is a vital step in helping Australian workers achieve a financially secure future.

The bill is also critical to help Australia cope with some of the pressures of our ageing population. There are currently 5 people of working age to support each Australian aged 65 years and over. By 2050 this will reduce to only 2.7 people of working age to support each Australian aged 65 years and over. Our ageing population will increase demand for age-related Government payments and services. Increased employer superannuation contributions will help more Australians become self-reliant in their retirement, easing pressure on Government expenditure.

Your petitioners urge you to support the bill to increase employer superannuation contributions.

The Increase employer superannuation contributions to 12% petition to Australian Parliament was written by Leanne Shingles and is in the category Employment at GoPetition.