Treasurer Considers Adding More Flexibility to Superannuation System
Treasurer Josh Frydenberg is considering whether to introduce more flexibility into the nation’s retirement saving system.
Speaking on Feb. 27 at a retirement income forum hosted by the Council on the Ageing (COTA), Frydenberg signalled that the government would like to see more “flexibility” in the sector to allow people to better balance their working life and their retirement income.
He noted that while the current system provided options for people who wanted to save more for retirement, it was “very limited” for people who wanted to save less to maintain their quality of life now.