25 Oct 10 Release of national survey into community attitudes and values towards superannuation
In media release No 2010/007, issued 24 October 2010, the Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, announced the release of research into community values and attitudes towards superannuation.
The research, by independent market research company Colmar Brunton, found there is universal concern that 9% of salary is unlikely to be sufficient to allow people adequate funds for retirement. There is recognition that people are living longer and are incurring higher medical costs.
"This research underscores the need for the Government's wide-ranging reforms to boost Australians' retirement savings, a cornerstone of which is increasing the superannuation guarantee from 9% to 12%," the Minister said.