RBA documents suggest a rise in superannuation would cause wage growth to stall. 

The Reserve Bank of Australia (RBA) says that up to $8 of every $10 of future wage rises could be wiped out by lifting the superannuation rate.

Super is set to rise by half a per cent each year to reach 12 per cent by 2025, but very few employers want this to happen.

An internal report obtained by reporters says the RBA believes “most of the cost of an increase in mandated benefits gets passed on to employees in the form of lower wage rises”. 

“Any 'wedge' driven between cost to employers and the benefit to employees will fall mostly on employees,” the documents state.

“Historically, the consensus among Australian policy makers has been that super contributions are paid for out of wages growth.”

However, it is not a universally-shared view. 

The Australian Institute of Superannuation Trustees (AIST), which lobbies for the ‘industry super' or 'profit-to-member' sector, says that; “Claims that leaving super at 9.5 per cent will deliver a pay rise to these workers are flawed — there is no mechanism in place to deliver forgone super increases as wage rises to workers on awards”.

The Federal Government has been under pressure to delay the rate rising, though the pressure to maintain the plan is immense as well.