澳大利亚经济学家提出了一种新的通胀控制方案：通过临时提高强制养老金缴款率来降低家庭支出，从而缓解物价压力 [1]。经济学家Chris Richardson认为，这一措施可以作为央行加息政策的替代或辅助工具 [1]。根据Yarra Capital Management在2023年的建模分析，将养老金缴款提高1个百分点的通胀控制效果相当于利率上升1%，即央行进行四次0.25个百分点的加息 [1]。
这一方案的优势在于能够将通胀压力分散到更广泛的受众。目前澳大利亚约三分之一的人持有抵押贷款，而约40至45%的人通过工作获得强制养老金缴款 [1]。相比之下，单纯依靠加息会集中打击抵押贷款持有人。强制养老金缴款率已从2014年的9%上升至2025年7月1日的12% [1]。
然而，这一建议暂未被纳入政策议程。澳大利亚储备银行发言人表示，"现金利率仍是货币政策委员会影响金融条件和通胀的主要工具"，该行未对临时养老金调整进行过建模 [1]。澳大利亚养老基金协会首席执行官Mary Delahunty指出这个想法"不是养老金部门正在考虑的事情" [1]。任何对强制养老金率的调整都需要经过议会立法批准 [1]。
Some Australian economists are advocating for an unconventional approach to combat inflation: temporarily raising mandatory superannuation contribution rates as an alternative or complement to central bank interest rate hikes.[1] According to economist Chris Richardson, increasing the superannuation contribution rate could reduce household spending and help control inflationary pressures.[1] A 2023 model from Yarra Capital Management suggested that a one-percentage-point increase in superannuation contributions would have an effect equivalent to a 1% interest rate rise—roughly equivalent to four consecutive 0.25-percentage-point rate increases by the Reserve Bank.[1]
Currently, Australia's mandatory superannuation contribution rate has risen from 9% in 2014 to 12% as of July 1, 2025.[1] This approach would spread the burden of fighting inflation more broadly across wage earners rather than concentrating it on mortgage holders, who represent roughly one-third of the population, while approximately 40–45% of Australians receive mandatory superannuation contributions through their employment.[1] However, the Reserve Bank of Australia has rejected the idea, with a spokesperson stating that "the cash rate remains the primary tool available to the Monetary Policy Committee to influence financial conditions and inflation," and noting that the bank has not modeled temporary superannuation guarantee changes.[1] Mary Delahunty, CEO of the Australian Superannuation Industry Association, dismissed the proposal as "not something the superannuation sector is considering."[1] Any adjustment to mandatory superannuation rates would require parliamentary legislation to proceed.[1]