Almost $3 billion a year could be returned to the federal budget if Labor opts to rein in tax concessions for 80,000 Australians who have more money in superannuation than they can use in retirement.
The average saver with more than $2 million in retirement savings had a balance of $3.8 million. Robert Pearce
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent. Connect with Tom on Twitter. Email Tom at thomas.mcilroy@afr.com
