The coalition will revisit concessional superannuation caps if it wins the next federal election, provided the budget bottom line comes back into surplus.
The opposition also said it would address the issue of 'excess contributions' to make sure Australians were not excessively penalised for unintended errors when making superannuation contributions.
While revealing the coalition's superannuation agenda for the approaching election, opposition assistant treasury spokesman Mathias Cormann criticised the government's super reforms.
"Labor has increased taxes on superannuation savings by stealth through dramatic reductions in the concessional super contribution caps from $50,000 and $100,000 down to only $25,000," Senator Cormann said.
"The government has also failed to address the excessive and disproportionate penalties imposed by the ATO when people make inadvertent errors, breaching their superannuation contribution caps."
He laid out the coalition's election agenda on super following Australian Taxation Office (ATO) research he claimed proved Australian investors had lost confidence in the superannuation system.
"A future coalition government will act decisively to rebuild confidence in our super system, after research showed that only 45 per cent of Australians have confidence in their ability to make informed decisions about their super," he said.
"After more than four years of constant chopping and changing and increased taxes on superannuation by Labor in government, the ATO research also found that 43 per cent of Australians do not have any interest in super and 69 per cent have no knowledge about the government's latest proposed changes."
The coalition will also seek to improve superannuation governance by implementing a series of corporate governance reforms recommended by the Cooper review.
But Cormann did not give a dedicated timeline upon which the coalition would implement its super changes.
