Scott Morrison and Josh Frydenberg have consistently promised the Australian people that they would not attack their superannuation. In a shocking interview this morning on ABC Radio National, Senator Jane Hume – the Assistant Minister for Superannuation – confirmed that she was “ambivalent” about sticking to the Government’s promise and called the decision “political”.
 
If Scott Morrison goes back on his commitment to the long-promised, legislated, and overdue Superannuation Guarantee increases it will be an attack on workers and their standard of living in retirement. 
 
The last time the Liberals and Nationals froze the Superannuation Guarantee, wages growth didn’t pick up, we got record low wages growth instead.
 
If Scott Morrison breaks his promise – Australians will be losing out on billions of dollars in retirement savings.
 
And with wages stagnant or frozen for the vast majority of the workforce – a rise in super is the only increase in remuneration most Australians are likely to see.
 
This is business as usual for the Liberals – who have opposed every single dollar that has been put into a superannuation account since 1993.
 
We are calling on the Government to come clean about their plans to cut the Superannuation Guarantee.
The Treasurer should release the secret 650-page Retirement Income Review that he has been sitting on since July.
 
Labor are not ‘ambivalent’ about retirement outcomes.
 
Now more than ever Australians need the legislated increase in the Super Guarantee to help rebuild their retirement balances.
 
Labor is committed to helping every Australian enjoy a dignified retirement by sticking to the legislated schedule super increase.