Why Superannuation Should Be Axed

Published on March 14, 2024

Commentary Australia’s superannuation saga began in July 1992, when Prime Minister Paul Keating enacted the superannuation guarantee. This audacious plan ensured employers chip in for their employees’ super, a stark contrast to our Kiwi cousins who, when faced with a similar proposal, collectively shot it down in a referendum with 91.8 percent voting against it. Senator Gerard Rennick—part accountant, part economic crusader with a Masters in taxation—has declared that superannuation is the economy’s bête noire, an unforgivable sin against fiscal management. He told ADHTV, “Superannuation was the worst thing to ever happen to the economy in this country.”...

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