Australian PM promises to increase superannuation at Labor Day rally

14:37, May 03, 2010      

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Australian Prime Minister Kevin Rudd said here on Monday he would not let the workers retire into poverty, and promised the Labor government would always give the workers a fair go.

While addressing supporters after thousands of trade unionists rallied for a Labor Day march through Brisbane in the east state of Queensland, the prime minister said his government would increase compulsory superannuation contributions employers must pay from nine to 12 percent between 2013 and 2019.

"We've moved from three percent, to six percent, to nine percent and this Labor government now delivers 12 percent on superannuation" for the retired workers, Rudd told cheering trade union members.

"When I looked at what working people are supposed to retire on to give them comfort and security in their retirement years - right now, it's just not enough. We need to build on that so working people have a decent amount of money to retire on - 12 percent is a huge step in this direction, a fair go on super," he said.

Source: Xinhua


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