A$500bn to flow into super funds after rate increase

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AUSTRALIA - The Rudd government has committed to raising the employer contribution to superannuation funds from 9% of salary to 12% by 2020, a move that will mean an extra half a trillion dollars in superannuation assets under management by 2035.

The recommendation is part of a sweeping taxation review. The superannuation industry responded to the announcement, made Sunday, with enthusiasm. "We're delighted that they're going to increase...

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