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More than half of older Australians support increasing taxes on high superannuation balances.
Despite outcry from the opposition, about 57 per cent of seniors endorse the change, according to a survey of 3,000 people aged 50 and older conducted by National Seniors Australia for the Super Members Council.
‘Strong sense of fairness’
“There seems to be broad Australian understanding about the importance of equity and sustainability in the super system, and a strong sense of fairness as the starting point,” said Super Members Council chief executive Misha Schubert.
Schubert said the survey results appear to track with broader public sentiment on Labor’s bill.
Lower confidence in fairness among some Australians
While a significant majority of those surveyed believed the super system was strong and sustainable, comparatively fewer thought it was equitable.
Women, those with poorer health and Australians with less formal education had lower levels of confidence in its fairness, the report found.
Many of these demographics do not have equal access to the benefits of superannuation because of a lack of employment opportunities or disrupted work histories.
But overall, older Australians almost universally understand the importance of super with 89.5 per cent believing it must be saved for retirement.
One in four respondents supported early release of funds beyond current rules.
Coalition’s housing plan
“Policy ideas that propose early release are dangerous and they make Australians poorer,” Schubert said.
