Print The Association of Superannuation Funds of Australia (ASFA) has welcomed the push from the Government’s reaffirmed commitment to increasing the superannuation guarantee (SG) to 12%, which was announced in the Federal Budget earlier this week, and said it was an important step towards providing adequate retirement savings, particularly for women and younger Australians. ASFA also supported the package of additional measures aimed at boosting women’s retirement savings and increasing flexibility for retirees to make contributions and access income streams which included: Abolishing the $450 a month earnings threshold for the payment of the SG; The removal of the work test (for those aged 67 to 74) for superannuation contributions;