For superannuation fund investors, the Abbott government at least stuck to its promises of no new adverse changes in its current term. But the super industry now needs to stay alert and prepare for almost certain variations, especially as several major government inquiries loom.
And investors need to be realistic in their expectations: the Coalition has in the past shown it is antagonistic to super in general and to the industry funds in particular.
Already, much to the delight of many employers, the timetable for taking the contribution rate to 12 % of salary has been extended by a three-year pause: the 9.5% in the coming financial year doesn’t rise to 10% until 2018-19. (The Coalition has form in this area; Peter Costello famously reneged on a promise about contributions before the 1996 election.)