Contact: John Randall
Deloitte
Superannuation Partner
0414 801 984

Contact: Louise Denver
Deloitte
Financial Services Communications
0414 889 857

The Treasurer has missed an opportunity to give an incentive to those on lower incomes to provide more for their retirement, says John Randall superannuation partner at Deloitte.

The Treasurer announced the doubling of the co-contribution entitlement for personal contributions already made in the 2005-2006 year.

 “He should have doubled the co-contribution for personal contributions made this year, rather than just last year, if he was serious about providing incentives for individuals on lower incomes to provide for their own retirement”, Mr Randall said.

“This does not in fact achieve the Government’s policy objective of encouraging additional superannuation savings,” said Randall. “It is a missed opportunity.”

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