Superannuation & retirement

Yesterday it was reported that HESTA, the industry superannuation fund dedicated to workers in health and community services, sold its Transfield Services shares. The ASU supports this decision by HESTA, which represents many of our members in the social and community services sector, as the Union has been lobbying for…

The Federal Government’s proposed changes to the governance of superannuation funds will undermine Australia’s high preforming Industry Super Funds and could see millions of Australians retire with less in their super. The ACTU submission on the Treasury Department’s Reforms to Superannuation Governance exposure draft outlines the threat to Industry Super…

In all the talk of age pensions, political deals and savings measures, we often forget the group in our society most negatively affected by cuts to safety nets: our women. Click here to read this article on Working Life It is no news that women struggle to gather enough savings…

The Abbott Government's proposed changes to Australia's world leading not for profit superannuation system are nothing more than an ideologically driven attack on workers.Not-for-profit industry super funds have lower fees and have outperformed the for-profit retail funds owned by the big banks over any time period comparison. As Industry Super…

Complexity, choice overload, low levels of financial literacy, lack of planning, procrastination and high search costs, among other behavioural factors, are influencing Australians' approach to their superannuation savings, says Industry Super Australia. Originally published on the ISA website 5 February - click here to read it there "This is the…

The Abbott Government has sent a clear message it intends to put the interests of the big banks ahead of working Australians by attacking industry super funds - the best performing area of the superannuation industry. "It's astounding that new Assistant Treasurer Josh Frydenberg's first public comment on superannuation is…

The Australian Council of Trade Unions today condemned the political attack on industry funds, and said that workers' retirement savings should be protected from the predatory and profit driven banking sector. ACTU Assistant Secretary, Tim Lyons said that media reports today that the Financial Services Inquiry would recommend changes to…

Unions will push workplace claims to claw back the superannuation increases Tony Abbott and Clive Palmer traded away leaving huge holes in the retirement savings of millions of Australians. "Australian workers cannot afford any delay in increasing the superannuation guarantee from 9% to 12% so we'll fight to lock these…

Industry Super Australia (ISA) is dismayed at a short sighted deal in the Senate today that will mean that millions of Australians retire with tens of thousands of dollars less in their superannuation accounts. Read this on the ISA website here - originally published 2 September 2014 The Government has…

Clive Palmer's disgraceful deal with the Federal Government over the mining tax repeal will cut the retirement savings of millions of Australians. ACTU President Ged Kearney said Mr Palmer's back down on the Low Income Super Contribution (LISC) and Superannuation Guarantee targets the lowest income earners. "The low income super…