Coalition keeps super rise
Opposition dumps plan to rescind superannuation boost from 9 per cent to 12 per cent.
Opposition dumps plan to rescind superannuation boost from 9 per cent to 12 per cent. THE Coalition will not roll back superannuation increases for workers which Labor has tied to the mining tax.The Sunday Age can reveal the Coalition has dumped its plan to rescind the superannuation boost from 9 per cent to 12 per cent by 2020, after a meeting of senior leadership figures on Friday.Instead it will keep the laws if it wins office. ''Essentially this is a fight we don't want to pick,'' a source said.The decision was taken at a meeting involving Opposition Leader Tony Abbott, deputy leader Julie Bishop, Nationals Leader Warren Truss, Shadow Treasurer Joe Hockey, Manager of Opposition Business Christopher Pyne and shadow assistant treasurer Mathias Cormann.Only last week Senator Cormann had reaffirmed the Coalition's plan to rescind the super increases if it won office as part of an austerity drive.Super will increase to 9.25 per cent in 2013-14 at a cost of $240 million, growing to $3.6 billion a year by 2020 once the full 12 per cent is reached.Last week the Assistant Treasurer, Bill Shorten, said the Coalition would have ''rocks in its head'' to claw back retirement savings from 8.5 million people, especially when politicians receive 15 per cent superannuation.