Trillions in savings

The Employment Minister, Bill Shorten, has told investors that increasing superannuation contributions from 9 per cent to 12 per cent by 2019 would push super savings up by trillions over the next two decades. Figures released by APRA yesterday showed value of superannuation funds under management is up 3.6 per cent in the year to end-March to hit $1.38 trillion.

The Employment Minister, Bill Shorten, has told investors that increasing superannuation contributions from 9 per cent to 12 per cent by 2019 would push super savings up by trillions over the next two decades. Figures released by APRA yesterday showed value of superannuation funds under management is up 3.6 per cent in the year to end-March to hit $1.38 trillion.

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