Superannuation & retirement

Unions welcome today's publication of the interim report of the Financial System Inquiry. ACTU Assistant Secretary Tim Lyons said unions have long argued that Australia needs a more efficient financial system. "Australia needs a financial system geared to supporting job-rich investment and better retirement incomes rather than generating huge profits…

The retirement savings of almost 3.6 million workers, including 2.2 million women will be spared from Tony Abbott's cuts following news today that the Palmer United Party will vote to save the low income super contribution. ACTU President Ged Kearney welcomed Mr Palmer's announcement and said it was a huge…

The retirement savings of millions of low paid Australians is under threat from Tony Abbott's harsh cuts. Each year the Government pays a small amount into the superannuation accounts of low paid workers earning less than $37,000 pa. It is called the Low Income Super Contribution (LISC) and while the…

The bank owned super funds have continued their efforts to undermine and dismantle consumer protections which ensure a transparent quality filter will apply for selection of default funds. Click here to read this on the Industry Super Australia website The Financial Services Council, on behalf of the bank owned super…

Industry Super Australia today launched Funding Australia: Superannuation and the Financial System, a groundbreaking study that charts the course of super’s rise and rise over the last twenty years. Click here to read this on the Industry Super Australia website Underpinned by new and innovative analysis, the paper comprehensively illustrates…

Superannuation funds are increasingly flexing their muscle through considerations of ESG in investment decision making as a result of lobbying from trustees and members themselves (ESG refers to environmental, social and corporate governance issues). Tobacco companies are not the only ones seeing investors depart their firms as a result. Recently,…

You may have seen that in The Australian today we're letting people know that our trustee system is not only the envy of the world, but an economic and public policy success story that has bipartisan and community-wide support. Arguably it is its compulsory nature that has made super what…

The ASU is continuing to voice its opposition to regressive changes to superannuation being delivered by the new Abbott Government. Today the Senate Economics Legislation Committee is hearing submissions on the repeal of the Mining Tax, which includes removal of the Low Income Super Contribution (LISC) and a delay to…

The ACTU today rejected a recommendation by the Federal Government's top policy agency to lift the retirement age to 70, as out of touch with the reality of life for Australian workers. ACTU President Ged Kearney said the proposal by the Productivity Commission ignores the reality that while life expectancy…

Sales assistants, checkout operators, receptionists and clerical workers are among workers set to bear the brunt of the Coalition's attack on superannuation. A Bill, which overturns the superannuation rebate along with the mining tax and other spending measures including the School Kids Bonus and the Regional Development Fund, passed the…