ASFA: Raising contributions best way forward

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AUSTRALIA - The Association of Superannuation Funds of Australia (ASFA) have released a report concluding raising the mandatory contribution rate to 12% from 9% would result in stronger retirement adequacy than would proposals to reform the country's tax system.

Last year, off the back of a wide-ranging Henry Tax Review, the government committed to increasing the so-called superannuation guarantee (SG) starting in the 2013 financial year. But the Henry Tax...

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