What was the proposed increase in the superannuation rate?

The proposed increase in the superannuation rate from 9% to 12% reflects a significant policy decision aimed at enhancing retirement savings for workers. This increment is part of a broader strategy to ensure that individuals have adequate funds to support themselves in retirement, addressing concerns regarding the adequacy of the superannuation system.

Increasing the superannuation guarantee rate to 12% serves to boost the overall savings workers accumulate over their careers, ultimately providing them with greater financial security in retirement. This change aligns with recommendations from various economic reviews and advisory bodies that emphasize the need for improved retirement income.

Other options presented suggest different rate adjustments that do not align with the current policy discussions and reforms surrounding superannuation. Thus, the answer highlights a key shift in government policy focused on building a more robust superannuation framework for future retirees.