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Nicola Willis: Finance Minister on the OECD report looking at the impact of our current superannuation settings on the economy
Published 1 month, 2 weeks ago
Description
The Finance Minister says the Government's going to have to do something about Superannuation.
An OECD report warns if current policy settings continue, we could be spending 5% more of our GDP on health, long-term care, and pensions by 2060.
Minister Nicola Willis says the cost for superannuation is going up billions of dollars, while there are fewer workers for every pensioner.
She told Mike Hosking the cost is also rising as a proportion of taxes.
Willis says it will soon account for 20%, and every dollar spent isn't available for education, health, and infrastructure.
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