29 June 2021

The Intergenerational Report is further evidence of the massive long-term benefits super brings to our economy. 
It is the best weapon we have to deal with the economic effect of our aging population. 
It provides a decent standard of living for millions of retirees at a time when the income tax base is shrinking. 
The $3 trillion retirement savings pool is a powerful engine for long-term investment in our businesses and our infrastructure across the volatility of business cycles, as the past 18 months have shown.
The benefits super provides are more important than ever. 
The IGR shows our population will grow more slowly and age more quickly than previously thought. 
And it shows pressure on the Federal Budget has magnified because of the Government’s trillion-dollar debt, weak growth, stagnant wages and flatlining living standards the past eight long years. 
That’s why it is vital to stay the course on the long-term vision for superannuation. 
The contribution rate must rise to 12 per cent and super must be preserved as the workhorse for generating retirement incomes. 
If super isn’t allowed to do its job, the shrinking tax base will be asked to shoulder the burden. 
The long-term future of the economy demands the attacks on super from within the Coalition must cease.