Retirement income review: The battle for your retirement

On the side of themselves, the Coalition would have you believe, are millionaire fund managers, super trustees, stock brokers, asset consultants, lobbyists and other highly paid members of the superannuation industry, alongside their clandestine if unlikely fellow-travellers in the trade union movement.

If the government fails, the always-difficult cause of tax reform will be set back considerably. It would be hard to see the Morrison government taking on other powerful vested interests, at least before the next federal election, which must be held by September, 2022. "The weight of evidence suggests the majority of increases in the SG come at the expense of growth in take-home wages," they write. "The view is based on empirical research, economic theory, evidence across a number of countries and the original policy intent of SG.”pensioner loan scheme

Super was meant to pay for retirement, not become a mechanism to preserve inter-generational privilege. Most Australians die with 80 per cent of their super savings intact – and their homes mortgage free.To win the argument, Frydenberg and Hume must, and are trying to, shift the discourse. Bragg is perhaps the most outspoken member of a growing but still minority group of Coalition MPs agitating to have superannuation assets opened up for the purposes of home ownership.

Former Labor minister Greg Combet is chairman of Industry Super Australia, which wants compulsory contributions to increase., Industry Super Australia is one of those with most skin in the fight and unsurprisingly, one of the most ardent defenders of the rise to 12 per cent.

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