Mon, 20th May 2024

In this episode of Financial Services Online's Weekly Superannuation News Wrap, Paige Estritori discusses the challenges facing Small to Medium Enterprises (SMEs) due to rising superannuation requirements as identified in the ScotPac SME Growth Index Report. However, the Federal Budget has its fair share of positives too with financial leaders endorsing measures aimed at strengthening the financial service sector's role in economic growth. The budget also emphasizes a transition towards a greener future and plans to redress gender imbalances in retirement funds. Notable fiscal changes are planned for mid-2026, including aligning super contributions with government-paid parental leave. Meanwhile, Shadow Treasurer Angus Taylor urges for prudent budget spending to maintain economic growth and control inflation.n