As the government continues to ponder its next moves on taxation, debate has yet again turned to the issue of superannuation tax concessions.

At the National Press Club this week, the chief executive of AustralianSuper made the case that fiddling with the tax settings on super (yet again) would not be the panacea for intergenerational issues that some claim.

While obviously the head of a super fund is the definition of a vested interest, he isn't wrong.

First, the fact that some economists hotly dispute the very high estimates produced by Treasury is often forgotten in the debate over the cost of superannuation tax concessions.

The Treasury methodology shows that the cost of concessions is growing much faster than the cost of the age pension .

However, this relies on the assumption

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