5 August 2019
At the heart of the debate over higher compulsory superannuation sit big trade-offs that are too rarely acknowledged. Grattan’s work on retirement incomes shows that raising compulsory super would be bad for workers, pensioners, and taxpayers.
29 July 2019
Most new migrants to Australia are low-skill, and they may be slowing wage growth for unskilled labour
Most new migrants to Australia are now low-skill – a substantial change from 10 years ago. Because of their visa conditions, and weak enforcement of minimum wages, some employers pay them much less than the minimum wage – and then do the same for low-skill permanent residents. If Australia is committed to a minimum wages regime, then employers who substantially and deliberately underpay minimum wages should face more serious consequences.
22 July 2019
The response from Australia’s peak superannuation lobbies to our latest research has been predictable, disappointing — and wrong.
10 July 2019
The typical worker would lose about $30,000 over their lifetime if compulsory superannuation contributions are lifted from 9.5 per cent of wages to 12 per cent, as has been legislated.
20 June 2019
Compulsory superannuation saves the government money on pensions — but nowhere near enough to pay for the accompanying tax concessions. Lifting compulsory contributions will make things worse, for a century.
11 June 2019
The Morrison Government confronts a big agenda when it comes to retirement incomes. They need to implement the superannuation recommendations of the Hayne Royal Commission and respond to the Productivity Commission inquiry into superannuation costs.
28 May 2019
Treasurer Josh Frydenberg should be commended for announcing plans to review Australia’s retirement incomes system. But to do better, we first need to set up the goalposts. Even though governments spend $50 billion each year on the age pension and another $30 billion on superannuation tax breaks, our retirement incomes system has never had a formal objective.
22 May 2019
Scott Morrison did not promise big policy changes in the election campaign. But on several issues inaction will be politically unwise. Economic growth is slowing, private health insurance is in a death spiral, home ownership is falling and homelessness rising, and energy costs and emissions are too high.
21 May 2019
Rethinking the scheduled increase to the Superannuation Guarantee is now a distinct possibility. There’s no obvious reason to increase compulsory contributions — and workers would be the winners if compulsory super contributions were not increased.
14 May 2019
Changing rules on negative gearing and capital gains tax is more likely to increase home ownership than guaranteeing part of the deposit. But no policy proposed in the 2019 federal election affects the really big lever for home ownership: increasing housing supply.