ISA has called for the immediate release of the RIR in order to test and verify its findings, saying that a draft was not circulated for stakeholder comment and relies on modelling using data that is not available to the public or external experts.
“The community knows that government faces a tough task, but we can’t have this review remaining hidden or used as part of a secret plan for super to create an Australia where there are those that can have a dignified retirement and those that can’t,” said ISA chief executive Bernie Dean.
“Super is already a great economic leveller for most Australians but we need to do more to avoid us ending up as a divided nation, with millions of women and low-income earners scraping by just on the aged pension.”
ISA is calling for the legislated increase to the superannuation guarantee to go ahead, as well as the abolition of the $450 monthly threshold on super and the removal of underperforming funds from the system.
The government is due to receive the review today.
More to come.
Exactly how much member’s money found its way into the Trade Unions and associated Labor Party entities from Industry Funds Directors Fees last financial year Bernie Dean ??……..in the name of transparency of course.
Ha ha, I wouldn’t trust the ISA to ‘test and verify’ anything. I reckon the Coalition has had a gut-full of these industry fund heavies. As evidenced by the extension of the early release program.
ISA “raising transparency concerns”. Pot-Kettle?
Sounds like a ‘great idea’ at a time where businesses are trying to stay afloat and retain staff …just slug-em with additional employment costs across the board…
ISA compair the pair we will not release our data lol