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| Super Contributions Boost |
Today the federal government introduced legislation into the House of Representatives to increase the superannuation guarantee from 9 per cent to 12 per cent. The objective is to try and provide for more Australians to self-fund their retirements from their superannuation funds.
The bill will also abolish the age limit for when people can make contributions to their superannuation. This significant change will mean Australians can make contributions throughout their whole working life.
The introduction of the bill is the first step for the legislation. The debate on the legislation has been adjourned and is likely to be resumed early next year, 2012.
