Changes don't help the young

The superannuation industry has generally welcomed the government's announcement of a five-year halt to changes in the superannuation tax rules. Amongst other things, this commitment, if honoured, provides greater certainty for current and future retirees making their plans.

Nevertheless, younger Australians still face the prospect of totally changed rules when their turn comes to retire and access their super. Continuing improvements in life expectancy have already generated proposals for further increases in the preservation age to at least age 62 and even to 67, the new pension eligibility age.

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