Thursday, September 22, 2016

ACTU – Government’s bias has potential to hurt super system

21 September 2016

DOWNLOAD SUPPORTING DOCUMENTS

Governments bias has potential to hurt Super system.pdf

Turnbull Government  superannuation  industry superannuation funds  retail funds  Australian retirees

“The default super system that has been in place in Australia for the last 30 years is world class and delivers great results for all Australians.”

“Analysis over the last 19 years shows that Australians would have been $105 billion better off overall if retail funds had matched the returns of industry funds, so it’s difficult to work out why the Turnbull Government wants to push more Australians into funds that give poorer returns.

“Australians shouldn’t have to suffer because this government is blinded by its own anti-union bias, to the point that it no longer feels it can support a system that is designed to place the interests of Australian retirees above those of the banks.”

“The Turnbull Government should stop playing politics with people’s retirement, and acknowledge that the system we have in place is one of the best in the world, because of – not in spite of – the fact that it is designed to prioritise retirement savings over profit.”

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