The Australian retirement savings plan
General Discussion
2
Posts
2
Posters
45
Views
-
-
the program requires employers to make a 12% contribution to a retirement fund on behalf of the employee.
That would be great - my employer invests roughly that amount with a defined pension, and we also get 401K matching on top of that, but they're very unusual in today's work place. It's a good way to ensure that long-term employees don't leave, whether you want them to or not
Implementing it suddenly would obviously put a huge strain on some employers. The additional benefit has to be paid from somewhere. My salary is presumably lower than it could be to cover the pension cost.
