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Ok, that’s it. I’ve had enough of the Government spreading misinformation about super to further their ideological attacks on your retirement savings. Here are some of the most common false arguments I've seen, and the truths that you deserve to know:
1.“Young people should be able to use super to buy a home.”
Nonsensical. This would just push up the price of housing & leave young people worse off in retirement. Convenient that most politicians won’t be around by then to be held responsible for such dangerous policymaking.
Nonsensical. This would just push up the price of housing & leave young people worse off in retirement. Convenient that most politicians won’t be around by then to be held responsible for such dangerous policymaking.
2. "The early withdrawal scheme is harmless + necessary."
Absolutely not. The Gov wanted to cut corners on JobKeeper and JobSeeker by making people (mostly young!) fund their own crisis response. A 25yo who withdraws $20k now could be up to $95k worse off by retirement.
Absolutely not. The Gov wanted to cut corners on JobKeeper and JobSeeker by making people (mostly young!) fund their own crisis response. A 25yo who withdraws $20k now could be up to $95k worse off by retirement.
3. “We have to choose: wage rises or super increases.”
No. The last time they froze super, wages didn't increase. If they freeze it again, there's no way to get bosses to pass on a pay rise. Since they froze the legislated increase of the SG, wage growth has stagnated.
No. The last time they froze super, wages didn't increase. If they freeze it again, there's no way to get bosses to pass on a pay rise. Since they froze the legislated increase of the SG, wage growth has stagnated.
4. “Super is unaffordable for business.” Not having it. From 1 July, under the SG increase, an employer would have to pay a full-time retail worker an extra $4.16/week in super. For a 30yo this means an extra $62,540 in retirement. For the cost of a cup of coffee for the boss.
Enough of the misinformation. Australian workers deserve the truth. We’ve got one of the best retirement systems in the world.
