Labor wants more than nice words on super

The federal opposition is urging action on reining in superannuation concessions before the cost outstrips pensions.

File image. Source: AAP

Federal Labor is chuffed the government could be warming to the idea of tackling the superannuation concessions of wealthy Australians.

Prime Minister Malcolm Turnbull has told parliament the government will consider Labor proposals on the issue, reversing the stance of his predecessor Tony Abbott.

Labor frontbencher Ed Husic told reporters in Canberra on Wednesday now was the time for substance not "spin and nice words".

Treasurer Scott Morrison, answering a question from his opposite number Chris Bowen, said the prime minister had made it very clear the government would be looking at superannuation issues.

"But what the Australian people can be confident about is the coalition's record when it comes to superannuation - we know that it's their money," Mr Morrison told parliament.

Mr Bowen had increased uncertainty around superannuation investments by focusing his "greedy tax initiatives" on the retirement phase.