No plan to stall super rise: Turnbull

Prime Minister Malcolm Turnbull has dismissed reports the government is considering stalling a mandated rise in compulsory superannuation contributions by employers.

"The government has got no plans to change the rise in compulsory super," he told reporters in Canberra on Friday.

"There is no proposal to cut or restrain the rise."

Earlier, Finance Minister Mathias Cormann labelled a report in The Australian as "entirely speculative".

"It is not something that is in front of us as we speak and it is not something that we have decided to do," he told Sky News.

The Australian said the government had proposed a permanent halt in the super increase out of concern that it would cost too much without doing enough to build the retirement savings for millions of workers.

The move to cancel the scheduled rise in compulsory super from 9.5 to 12 per cent would recoup billions of dollars for the federal budget while sparing employers an even greater expense.

Shadow treasurer Chris Bowen said any such move would be a very dramatic blow to retirement incomes.