Tuesday, 1 December 2020
That the Senate—
(a) notes Prime Minister Morrison's commitment to the Australian people at the 2019 federal election to deliver the legislated increases to the superannuation guarantee for all Australian workers;
(b) endorses the legislated increases to superannuation guarantee for Australian workers beginning on 1 July 2021 with a 0.5% increase to 9.5%; and
(c) supports the universal and compulsory nature of Australia's superannuation system.
The Retirement Income Review was recommended by the Productivity Commission, and it comes 27 years after the establishment of compulsory superannuation. As the government has stated, it will now carefully consider the observations made in the review and will make a decision on the superannuation guarantee before its scheduled increase.
Question agreed to.