Super Rate to increase from 9%?

The union movement – courtesy of the ACTU – is making the first soundings of an increase in the Super Rate from the current level of 9% to 12% or even higher.  The increase is proposed to occur over a number of years.

However, unlike the old Accord days of the early 1980’s, there is no suggestion that the increase in the rate from 9% will be traded off against wage increases.  The ACTU secretary is reported in the Financial Press as saying wages should increase in line with inflation.  The increase in the super contribution could be justified on its own merits and (it was alleged) will not fuel inflation!