Most back Labor on super

The superannuation industry appears to be backing the Australian Labor Party (ALP) to win the next Federal Election.

The industry also appears to prefer the Australian Labor Party’s approach to superannuation policy to that of the Liberal/National Party Coalition.

In a survey conducted during the recent Association of Superannuation Funds of Australia national conference by Money Management’s sister publication, Super Review, respondents were asked which party had the best policy approach to superannuation, with 57.1 per cent nominating the ALP, compared to 14.2 per cent for the Coalition Government.

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Just as importantly, when asked which party would win the next Federal Election, 71.4 per cent nominated the ALP while 14.2 per cent nominated the Coalition.

A crucial factor in this outcome may have been the Coalition’s approach to the superannuation guarantee (SG), almost 70 per cent of respondents wanting the SG increased to 12 per cent or beyond as soon as possible.

Asked what they believed should happen with the SG, no respondents nominated leaving it at the current 9.5 per cent, while 42.8 per cent wanted it increased to 12 per cent as soon as possible, with only 28.5 per cent wanting it to be tied to the Government’s current timetable of 2025.

Significantly, 28.5 per cent of respondents said they wanted the SG to be targeted to reach 15 per cent by 2025.

 




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Mike seriously? Exceptionally misleading title, expect better from someone of your experience and longevity in this area. We all know AFSA is an offshoot of the ISA, so of course if you survey their conference they will swing left! Whatever happened to real journalism or at least articles written with transparency and integrity, let alone the headlines? A nonsensical effort and one would say probably purposely misleading.

Well done Libs....you could not have done a much better job than you have done on the Life Insurance and Financial Services industry.
For those that pushed and voted for Turnbull's departure in the name of ego and aspiration, you are an utter disgrace.
Malcolm didn't always prove to be answer to everything, but it's sure as hell a better option than Bill Shorten and the Unions.
People like Garry Weaven and Greg Combet must now be just sitting back giggling with anticipation waiting for Labor
to unleash the Industry Super Funds to do as exactly as they please.
There will be union money flowing like a river of gold and Bill Shorten will be bathing in it.

Completely agree with you. The Liberals fought and fought against the Royal Commission and in the end the fear of a couple of Nationals crossing the floor forced their hand. In the upcoming election, all Labor has to do is to remind voters of the opposition of the Liberal Party leaders to the holding of the Royal Commission.
As you say, Malcolm is doing an Abbott on the Coalition in the name of ego and aspiration to rewrite his history.
In the Biblical sense you reap what you sow don't you?

That can't happen Hedware.....you have never agreed with me....it's against the rules !

talk about a self serving response to a "survey".
every Australian worker is to get a 2.5% pay rise ASAP -- but all of it must go into a super fund.
and a further 3% is to be directed to super by 2025.
You only have to look on Sydney Harbour to see where the bulk of those pay rises will end up.
No one -- and especially not the Royal Commission -- is querying why the cost to manage a $100 B portfolio is 1000 times the cost to manage a $100 M portfolio.

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