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Wednesday, 4 November 1992
Page: 2657

(Question No. 1109)


Mr Cobb asked the Treasurer, upon notice, on 10 October 1991:

  (1) What total sum has been invested in superannuation funds as a result of the compulsory 3 per cent employer contribution.

  (2) What are the projections of investment in superannuation funds based on the proposed increases to (a) 5 per cent in 1992 and (b) 9 per cent by the year 2000.


Mr Dawkins —The answer to the honourable member's question is as follows:

  (1) Data currently available on employer contributions to superannuation funds do not provide a separate estimate of the sum invested as a result of employer contributions made under award superannuation provisions.

  (2) My statement on superannuation, "Security in Retirement, Planning for Tomorrow Today", released on 30 June 1992, includes projections of the effect of the Superannuation Guarantee arrangements. Section X of the statement projects the possible effect of the arrangements on national saving, over a forty year period, including the increase in private superannuation savings.