How half our retirement savings went missing

Regardless of specific tax brackets, our super system ignores half the country's retirement nest egg. Its serious structural failings are cheating Australia.

The stink over the Abbott government’s decision to scrap a planned 15 per cent tax on retirement earnings over $100,000 won’t clear quickly. Indeed, it will haunt the Coalition at the next election.

The planned tax was expected to impact around 16,000 retirees and was part of the funding model for a low-income super top-up payment that is also now being scrapped.

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