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Supplementary Submission to Senate Standing Economics Committee Inquiry into the Superannuation (Objective) Bill 2016

February 19, 2017

Supplementary Submission to Senate Standing Economics Committee Inquiry into the Superannuation (Objective) Bill 2016

John Daley and Brendan Coates, Grattan Institute (February 2017). Understanding how people really save for retirement matters. Given the differences in how households save, no policy will strike the optimal balance between working and retirement income for every household. The best that policymakers can hope for is a reasonable balance between the different situations of a diversity of households. To achieve this, any objective for superannuation must acknowledge the diversity of savings behaviour, and the substantial savings outside of super that exist to support the retirement of many Australian households.