Unionists have known this on the ground since super was introduced. The '83 super/wages trade off set the precedent. Another byproduct is that people are gradually borrowing against their super (using equity in their house) and using it to pay off mortgages when they retire.
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It doesn't mean to say that if workers get a 2.5% increase in super they won't get a pay rise, or that they will get any more than only the 2% pa increase they're getting now. Whatever wage increase combined with 2.5% super increase they get they will be better off.
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Where do you think the 2.5% for an increase in Super will come from? From an employer perspective wages/salary and super all come from the same bucket. Mandating an increase in compulsory super means the slice of the pie for wage/salary increases is going to be smaller
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I don’t see how this a surprise? Apart of the accord in 80s and 90s was workers trading pay increases for things like compulsory super. This helped keep a lid on inflation. The question is will an increase in super subtract from wages in the next few years?
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Real wage growth is forecast to be zero? So why not increase super?
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Please find my contribution I think Brendan ( poor bugger) was sent my submission https://treasury.gov.au/consultation/c2019-36292/submissions …
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Did someone say that higher super would somehow result in higher wages? I always thought it was about savings and social security...
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Sloppy assumptions. Poor understanding of Australian economic history.
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Čini se da učitavanje traje već neko vrijeme.
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