An article on the website Super Review talks about a lifetime caps that could come to replace the annual concessional contributions ceiling. This way, individuals would be able to make greater contributions at the closing stages of their working lives without fearing penalties.
The Association of Superannuation Funds of Australia (ASFA) has already forwarded its proposal to the federal government. People closing on their retirements have got their home mortgage past them in a majority of cases and can add a lot to their retirement nest egg if allowed to do so. It is here that lifetime cap promises new openings.
You can read the original article here.
