Should super stay at 9.5%
Dixon Advisory Executive Chairman Daryl Dixon speaks with Ross Greenwood on 2GB Money News about whether compulsory superannuation should stay at 9.5%.
Daryl and Ross discuss the outcry to the federal government's decision to defer the progressive increase of compulsory super contributions to 12%. Suggesting the response may be overstated and driven by large industry super funds that focus on funds under management.
Daryl addresses the criticism to Senator Nick Xenophon's limited proposal to allow first home buyers to use their superannuation to help achieve home-ownership, reviewing the impacts on mortgages and access to super in retirement.
With many more Australians with mortgages facing the threat or reality of redundancy, to have money tied up in super (apart from limited access to up to $10,000) is a far from pleasant prospect. Being forced to build up large super balances that are untouchable until a late age is not an attractive idea for many people.
The interview runs for ten minutes. Listen to the full interview here