Super - Where is it going under Labor?

There seems to be growing speculation – from the super industry and from the trade union movement – that the 9% compulsory super should be increased to 15%. 

This increase would occur over a number of years and may be part of a wages trade-off.
 
This would be welcome news to the funds management industry and will allow trade unions to show their presence.  The Government may be attracted to the prospect dampening the inflationary impact of any wage increases.

This change would also address a significant design flaw of the current super system – 9% compulsory super will generally not provide sufficient retirement income – even assuming a full working life of 35 to 40 years.