2016 Australian Federal Budget l Mercer Australia

2016 Australian Federal Budget l Mercer Australia

2016 Australian Federal Budget

Implications for superannuation funds, employers, and individuals.


Mercer experts across superannuation, retirement, investments, workforce issues, and health have reviewed the 2016 Budget and analysed the implications for Australia’s retirement income system, economy, and workforce.



 

The 2016 Federal Budget claims to be an economic plan to drive jobs and growth, make the tax system fairer and improve the fairness and flexibility of superannuation. 

It was fit-for-purpose with significant implications for superannuation in particular.

We don’t know how many of the proposed changes will eventuate, but implications for super funds, employers and individuals must be understood and planned for, making our report essential reading and expert videos valuable viewing on what you need to be thinking about right now.

Download our detailed analysis of the Federal Budget and what it means for superannuation funds, employers and individuals. 
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Dr. David Knox outlines what the 2016 Budget means for superannuation and Australia’s retirement income system.

What's trending: What Mercer has to say on Australia’s retirement income system

Mercer's Superannuation and Tax Plan

Limiting the balance of account-based pensions to $2.5 million (indexed) and subjecting investment earnings from savings in excess of this to the 15% standard superannuation tax rate, and introducing life-time contribution caps would create a fairer superannuation system and reduce the cost of tax concessions to the Federal Government according to Mercer.
Read more

Objective for Superannuation not Enough

The objective of Australia’s overall retirement income system should be to provide the vast majority of Australians with an income throughout their retirement that enables their pre-retirement living standards to be maintained, according to Mercer.
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Not Enough Choice in Retirement: Says Mercer

There is currently a myriad of choice and complexity in the accumulation phase of superannuation and not enough choice and diversity in products in the retirement phase, according to superannuation experts Mercer.
Read more
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