Superannuation & retirement

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…

The Abbott Government's announcement that it will scrap the 15 per cent tax on superannuation income above $100,000 a year, while at the same time removing superannuation tax breaks for workers on less than $37,000 per year, shows the new Government is intent on rewarding the wealthy and holds workers'…

The Abbott Government has begun its attack on ordinary workers by drafting laws that cut taxes for big mining companies but scrap programs, including the Low Income Superannuation Contribution, that benefit low and middle-income workers. The draft of the Minerals Resource Rent Tax Repeal and Other Measures Bill 2013 released…

Unions will forcefully oppose any moves by the new Government to put ideology and politics ahead of retirement savings. Media reports today suggest the Coalition is prepared to gut Australia's world-leading industry superannuation system purely for political reasons. In the ten years to 31 August 2013, industry funds delivered a…

ACTU President Ged Kearney will today call for closer engagement between unions and business over the economic challenges facing Australia, and for the business lobby to overcome its opposition to reforms in the national interest. Speaking at a symposium on The Accord 30 Years On in Sydney this afternoon, Ms…

The Australian Institute of Superannuation Trustees (AIST) and Women in Super (WIS) have announced the recipients of the Super Springboard scholarships. A joint initiative of AIST and WIS, Super Springboard is a 12-month program for women interested in becoming directors of superannuation funds. It offers a comprehensive training program, mentoring…

The best boards were diverse and made up of generalists, said David Gonski in his Plenary session on Governance. The experienced board member and current Chairman of several boards including the Guardians of the Future Fund said, "It is my contention that large publicly listed companies and their governance models…

Opening ASFA 2012 former Prime Minister Paul Keating has called on the Federal Government to address longevity risk by increasing superannuation contributions by a further three per cent, or alternatively establishing a government pooled insurance fund. In a thought-provoking speech, short on the political rhetoric for which he is known,…

Australia must better harness its huge pool of superannuation assets to drive investment in nation-building infrastructure, ACTU Secretary Dave Oliver told the ACTU Investment Forum in Sydney today. Mr Oliver told the conference that Australia faces an estimated 'infrastructure investment gap' of around $700 billion over the next decade, which…

A Productivity Commission draft report has reinforced that the primary criteria for default superannuation funds in modern awards should be how they serve workers, not commercial interests, say unions. The draft report from the inquiry released today confirms that the investment returns of not-for-profit default industry funds have exceeded those…