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Ageing council urges govt on super reforms

Council on the Ageing CEO Ian Yates says it's laughable that the prime minister is under pressure to reverse his plans for superannuation tax concessions.

2 min read

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Source: AAP


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The Council on the Ageing is calling on Monday's coalition party room meeting to reject pressure to water down superannuation reforms.

Chief Executive Ian Yates says the fact the prime minister and treasurer are under pressure from backbenchers to reverse sound policy based on election results would be "laughable if it wasn't so serious".

Mr Yates says any negative impact at the polling booth associated with the super reforms was due to misinformation about how the policy affects the vast majority of voters.

"The fact is only those at the very top end will lose out, the vast majority in the middle wont be impacted and those at the lower end will be better off," he said in a statement.

Mr Yates said the coalition now has an obligation to the majority of the electorate that voted it in and supported a superannuation policy that "finally puts an end to wasteful, unfair tax expenditure".

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Prime Minister Malcolm Turnbull has flagged changes to his controversial plans for superannuation tax concessions, insisting he has already listened to people's concerns.

But Labor says it's just further evidence of a "haphazard" approach from a "hopelessly divided" government.

The grumblings within coalition ranks include putting a lifetime $500,000 cap on super contributions.


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