Budget 2009 - Big Policy Issues

The Big Policy Issues are:

• The SGC rate will remain unchanged at 9%.  Apparently the Government considers the 9% rate sufficient to provide a reasonable retirement income.
• Age Pension Age will be increased from 65 to 67.  This change will be implemented gradually from 2017 and be completed by 2023.
• The recommendation that the preservation age be increased – possibly matching the Age Pension Age.