Treasurer Jim Chalmers this week declared victory in the 30-year superannuation wars, but now a fresh fight has erupted over the purpose of our $3.3 trillion pool of retirement savings.
Over fluffy omelettes and stacks of smoked salmon, flanked by captains of industry in the private residence of one of Australia’s wealthiest men, Treasurer Jim Chalmers claimed a historic victory for the labour movement.
“The way that we see it is the super wars have largely been won,” the new Labor treasurer told the annual Superannuation Lending Roundtable on Monday morning, referring to the now-bipartisan agreement that superannuation should be compulsory and the guaranteed rate is going to 12 per cent by 2025.
Aleks VickovichWealth editorAleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
Michael ReadEconomics correspondentMichael 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
