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Showing 1 - 7 of 7 results for "Age Pension outlays"

SMC says 'reckless' plan could cost taxpayers $1tn

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... governments may have to increase taxes or cut services to offset the extra fiscal pressure created by the bigger age pension outlays, SMC said. At its peak, the capped super for a house policy could cost taxpayers an extra $8 billion per year, while ...

Product modernisation will strengthen retirement outcomes: FSC

CHLOE WALKER  |  MONDAY, 20 NOV 2023
... "A product modernisation regime would support the government's fiscal position, by lowering government Age Pension outlays and raising new tax revenue, by almost $1 billion in the next decade, without having to raise new taxes on superannuation consumers," ...

Industry bodies attack SG freeze speculation

MARK SMITH  |  FRIDAY, 5 FEB 2016
... savings by more than $900 billion by 2055. ISA modelling also shows the government would need to pay 6% more in age pension outlays to make up for the shortfall in superannuation savings, which would increase pressure on taxpayers and the long term budget. ...

Government should super seed low income earners

DARREN SNYDER  |  MONDAY, 7 SEP 2015
... legislated, Super Seed is expected to see aggregate superannuation balances climb $440 billion by 2055 and reduce age pension outlays by $1.7 billion in that year. "Combined with increased earnings taxes on the higher level of savings around half of ...

Demography must drive reform

ANDREW BRAGG, FSC DIRECTOR OF POLICY AND GLOBAL MARKETS  |  FRIDAY, 27 FEB 2015
... contribution rate is not yet high enough to provide fully-funded retirement incomes. While super has begun to reduce age pension outlays by $5.7 billion in 2013-14 according to NATSEM, it can further reduce age pension costs with the right settings between ...

Super is working but can be improved: Ripoll

MARK SMITH  |  FRIDAY, 20 FEB 2015
... Association of Superannuation Funds of Australia (ASFA)'s estimate that more than $7 billion a year is saved from Age Pension outlays because individual superannuation savings. At the same time, he added, Treasury estimates that the cost to the tax system ...

Advisers must fight for the future, not the past: AFA

ALEX DUNNIN  |  MONDAY, 25 OCT 2010
... message has political upside because it's in the national interest for consumers to get good advice and reduce age pension outlays, said Chikarovski. To achieve this, advisers must be proactive, said Daly. "Our greatest threat is not fee for service ...
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