“Labor is the party of superannuation; we established super and we continue to improve it,” said the Minister.
“The fact is Australians are living longer and they will need to be encouraged to have adequate savings to retire comfortably.”
Today the majority of working Australians are retiring with lump sums of just under $40,000 and the average balance in super is just over $150,000 for men and $90,000 for women.
The Roundtable brings together representatives of the superannuation industry, small business, employees and the community sector, as well as technical experts and academics.
The Roundtable discussion will build on the significant superannuation reforms announced by the Gillard Government, which include;
- Increasing universal super from 9 per cent to 12 per cent, and
- Cutting contributions tax from 15 per cent to zero for the 30 per cent of workers who earn less than $37,000
“Our superannuation system needs to be fair, consistent, stable and it needs to be sustainable in the long term.”
“That is what I have been talking to the industry about during this reform process and that was the focus at the Super Roundtable today.”
“In complete contrast, Tony Abbott has promised to cut up to $500 a year from the super accounts of the 30 per cent of Australian workers earning $37,000 and under.”
*A list of the Super Roundtable members is below.
Mr Shorten’s Media Contact: Jessica Lindell 0408 642 804
Superannuation roundtable members
Name |
Organisation |
| Bill Shorten | Chair Minister for Employment and Workplace Relations Minister for Financial Services and Superannuation |
| Hazel Bateman | School of Risk and Actuarial University of New South Wales |
| John Brogden | Chief Executive Officer Financial Services Council |
| Everald Compton | Chair Advisory Panel on Positive Ageing |
| Tom Garcia | Chief Executive Officer Australian Institute of Superannuation Trustees |
| Paul Gerrans | Business School University of Western Australia |
| Dr Cassandra Goldie | Chief Executive Officer Australian Council Of Social Service |
| Melinda Howes | Chief Executive Officer Actuaries Institute |
| Tim Lyons | Assistant Secretary Australian Council of Trade Unions |
| Alex Malley | Chief Executive Officer CPA Australia Joint Accounting Bodies representative |
| Mark Rantall | Chief Executive Officer Financial Planning Association |
| David Richardson | Senior Research Fellow Australia Institute |
| Nick Sherry | Sherry Int. |
| Andrea Slattery | Chief Executive Officer Self Managed Superannuation Funds Professionals’ Association |
| Peter Strong | Executive Director Council of Small Business of Australia |
| Pauline Vamos | Chief Executive Officer Association of Superannuation Funds of Australia |
| David Whiteley | Chief Executive Industry Superannuation Network |
| Cate Wood | Chair Women in Super |
