Anthony Albanese snaps at pension crickets: Prime Minister on tax breaks for the rich

Anthony Albanese has insisted there will be no major changes to retirement plans amid renewed debate over whether tax breaks for wealthy Australians’ retirement savings should be changed.

The prime minister said the government has “taken no decisions” on changes to Super, beyond the previously announced plan to enshrine in law a target for the nation’s $3.3 trillion pension system.

However, he said there will be no major changes to the way Australians’ retirement savings are managed.

“We’re not considering that,” he told reporters in Adelaide on Thursday.

“What we’re doing is getting the goal of retirement provision right, which is something that’s needed.”

Anthony Albanese (pictured) has insisted there will be no major changes to the pension

Anthony Albanese (pictured) has insisted there will be no major changes to the pension

Anthony Albanese (pictured) has insisted there will be no major changes to the pension

Mr Albanese made similar comments at the National Press Club in Canberra on Wednesday.

Treasurer Jim Chalmers earlier this week unveiled Labor’s proposed wording for a definition of old-age pension, which would make it more difficult for governments to introduce policies allowing Australians to withdraw their super pension early.

dr Chalmers introduced the goal in a speech to the financial services industry, in which he also said he was eyeing a super-tax-break restructure ahead of the May budget.

The coalition has accepted the statements made by Dr. Chalmers and attacked the government by saying it was reversing its pre-election promises not to make any changes to the system.

About $36 billion of Australian pensions have been withdrawn under early redundancy schemes introduced by the Coalition during the pandemic.

Treasurer Jim Chalmers (pictured with his wife Laura) this week unveiled Labor's proposed wording for a definition of old-age pension, which would make it more difficult for governments to introduce policies allowing Australians to withdraw their super pension early

Treasurer Jim Chalmers (pictured with his wife Laura) this week unveiled Labor's proposed wording for a definition of old-age pension, which would make it more difficult for governments to introduce policies allowing Australians to withdraw their super pension early

Treasurer Jim Chalmers (pictured with his wife Laura) this week unveiled Labor’s proposed wording for a definition of old-age pension, which would make it more difficult for governments to introduce policies allowing Australians to withdraw their super pension early

Source: | This article originally belongs to Dailymail.co.uk

https://www.soundhealthandlastingwealth.com/celebrity/anthony-albanese-snaps-over-superannuation-grilling-prime-minister-on-tax-concessions-for-wealthy/ Anthony Albanese snaps at pension crickets: Prime Minister on tax breaks for the rich

Brian Ashcraft

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