The Pros and Cons of a Floating Superannuation Guarantee Rate

One option that I've heard floated a fair bit is a floating superannuation guarantee rate. The idea is that that number could float depending on macroeconomic conditions and that the decision to move it up or down be given to an independent body. There's probably a couple of issues worth considering when exploring this idea. It bumps up against something called the Timberg Enrude which says you probably need as many policy instruments as you have policy objectives. But these are the pros and cons of the process we have at the moment.