Women Across Australia March Against Sexual Violence And Inequality ibtimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibtimes.com.au Daily Mail and Mail on Sunday newspapers.
Superannuation Minister Jane Hume has spruiked the Morrison government’s economic pandemic response – citing positive national accounts figures released this week as evidence of its success.
The nation’s economy increased by 3.1 per cent over the December quarter, surpassing economists’ projections of 2.3 per cent.
“It was a quarter where we saw federal government support … halve, economic support halve but at the same time we saw 320,000 new jobs created and over two million people begin to be graduated off JobKeeper,” she said.
“I think what we saw was those economic initiatives that we put in place to assist with recovery beginning to take hold and . manifesting.
“I don’t think you’d want to be in any other country than Australia, we’re growing at a rate now that’s faster than all major advanced economies … this is a very positive sign I think for Australia”.
Ms Hume also pointed out next week would mark a year since the federal government ann
Optional pay rise with âflexibleâ super
Save
Share
The Morrison government is considering allowing workers to dip into superannuation for expenses such as housing, or to choose a pay rise over extra super contributions above 9.5 per cent, as part of a âmore flexibleâ retirement savings system.
The potential changes could be used as a trade-off to proceed with the legislated rise in the superannuation guarantee to 12 per cent between July 2021 and 2025.
Treasurer Josh Frydenberg says the current superannuation system is âvery limitedâ for people who want to save less to maintain their quality of life today.Â
Alex Ellinghausen
Ministers also indicated employees such as public servants and university workers who already received more than the minimum super guarantee rate may be able to opt to take the extra amount as take-home pay.
Make retirees spend their super - MacroBusiness macrobusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from macrobusiness.com.au Daily Mail and Mail on Sunday newspapers.
Liberal backbencher and House economics committee chair Tim Wilson has signalled he won t back down on his campaign to allow super to be used to buy property, saying that consumers deserve choice i