Disputes over superannuation continue between the major parties, with shadow minister for superannuation Mathias Cormann calling on his government counterpart Bill Shorten to "step up on super."
With changes to superannuation rumoured to be part of the May federal Budget, Mr Cormann has said that any tax increases on super would impact the wider economy.
"Super tax concessions are not inappropriate perks for the rich," Mr Cormann said. "They are designed to encourage as many Australians as possible to lock up more of their money now [so it's] available for them in retirement.
"To increase taxes on super is very short-sighted because it means to increase pressure on the aged pension in the years ahead."
Mr Shorten hit back, saying one of Tony Abbott's senior frontbenchers, Kevin Andrews, repeatedly refused to commit to increase employer super contributions from 9 per cent to 12 per cent should the Liberals win the election on September 14.
"Tony Abbott and the Liberal Party voted against increasing universal superannuation to 12 per cent in the parliament," Mr Shorten said.
"The Liberal Party has voted against increasing superannuation every time a Labor government has done so.
"We already know Tony Abbott will attack the superannuation of 3.6 million low-paid and part-time workers, including 2.1 million women, by imposing a new 15 per cent tax."
Meanwhile, the industry continues to speculate on the effects of federal Budget changes to superannuation.
Rice Warner last week said that with the low income tax rebate in place and in search of an additional $1 billion in savings, an increase to the concessional contributions tax from 15 per cent to 17.5 per cent could be on the cards at the Budget.
The Association of Superannuation Funds of Australia chief executive Pauline Vamos said that to ensure a sustainable retirement system, more changes to superannuation may be required, but it was important they be carefully considered and based on facts.
