Minister Bowen Confirms the Importance of Superannuation

The Minister responsible for Superannuation, Chris Bowen, at the recent SPAA conference has confirmed the Government’s view that Superannuation is a vital mechanism for national savings.

In particular, the Government will not remove the tax concessions for super in order to pay for the removal of the means test on the age pension.

The Minister noted that the current Super system had very significantly contributed to the $88b in equity raisings in the 2008/09 year.