The Federal Government has again used superannuation policy in an attempt to differentiate itself from the Coalition, claiming the Opposition leader, Tony Abbott, would cut the superannuation contributions caps and fail to increase the superannuation guarantee to 12 per cent.
The Minister for Financial Services, Chris Bowen, used a visit to a Sydney electorate to make the claims, saying the Opposition had announced that it would cut the superannuation contribution caps to $25,000 for all over-50s from 1 July, 2012.
He said that, by comparison, the Government intended to keep a $50,000 contribution cap for over-50s with up to $500,000 already in superannuation.
