Original article by Adam Creighton
The Australian – Page: 12 : 23-Jul-19

Australia’s superannuation system is now valued at $2.8 trillion, but parliament has yet to agree on what it is for. The current federal government tried a few years ago to enact a bill that would define the purpose of superannuation, but it was never passed. The main aim of superannuation should be to help people to provide for themselves in retirement, but cynics would suggest that the ‘real’ beneficiaries include fund managers, superannuation and financial planning associations, the union movement and the Labor party. It is little wonder that all these groups want the superannuation guarantee to be increased to 12 per cent, as has been legislated, although some government MPs are now against this idea.

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