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Bragg Calls Compulsory Super Policy Failure, Treasury Warns Costs

8/18/2026

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Summary

Story summary

Shadow housing minister Andrew Bragg called compulsory super a policy failure, citing the Treasury’s 2023 report that age-pension spending will stay at 2 % of GDP through 2063.
He warned that super tax concessions are projected to surpass age-pension spending as a share of GDP in the 2040s.
Treasury forecasts the retirement-income system will cost about 4 %-4.5 % of GDP for the next 40 years.

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Story summary

Shadow housing minister Andrew Bragg called compulsory super a policy failure, citing the Treasury’s 2023 report that age-pension spending will stay at 2 % of GDP through 2063.
He warned that super tax concessions are projected to surpass age-pension spending as a share of GDP in the 2040s.
Treasury forecasts the retirement-income system will cost about 4 %-4.5 % of GDP for the next 40 years.