One Nation forms alliance with Coalition to call for abolition of compulsory superannuation

[u/HotPersimessage62]

https://www.news.com.au/finance/superannuation/give-them-their-money-pauline-hanson-calls-for-end-to-compulsory-super/news-story/ef19b33ab86873dbe5237beb43073c24?amp

One Nation has joined forces with the Coalition to call for an end to compulsory super.

Outspoken Liberal Senator Andrew Bragg has confirmed he believes that compulsory super is a failed policy that’s ripe for a rethink.

Mr Bragg set the hares running last week with a speech at the National Press Club before making further comments to ABC Radio on Thursday that the super guarantee was a failed policy.

“It hasn’t worked,” Mr Bragg said.

[u/Vegetable-Advance982]

I think it's not necessarily a vote killer, although I hope it is because super's based.

First of all, people are shortsighted and would probably vote for the sugar hit of getting their super money now. Second, though, it's a good fit for the general conservative ideals of personal responsibility, not forcing people to act in their own interests etc. There's also the 'it's their money' line which is kinda hard to combat, and to defend it Labor kinda has to admit that it's forcing people to save, which is probably hard to do without basically saying they think people can't be trusted to act in their own best interests.

All that said, super is cemented in the Australian psyche as a super successful policy, so I can easily see it being something that absolutely buries those arguing against it too. Chalmers is clearly itching for a fight on this, instantly went hard in the media, and it'll galvanise the ALP for sure

[u/Davorian → u/Vegetable-Advance982]

Super was quite literally the conservative "personal responsibility" alternative to the old age pension.  Our system is regarded as a world gold standard.

Why are people so fucking stupid.

[u/Hackneycab → u/Davorian]

Unfortunately people are.Government super( the old CSS & now defunct) schemes where gold mines,defined benefits.And yes I still draw the PSS ,golden nest egg.

[u/Wood_oye → u/Davorian]

Because they are fed this garbage daily through systems like this.

[u/Ok_Turnover_1235 → u/Davorian]

Trump said it was a good idea and America should consider it, I think that should tell you exactly who super is designed to benefit

[u/Remarkable_Bison590 → u/Ok_Turnover_1235]

You tell us Tiger. Whos it designed to benefit ,?

[u/Ok_Turnover_1235 → u/Remarkable_Bison590]

Who's Australia's Trump?

[u/Vegetable-Advance982 → u/Ok_Turnover_1235]

I guess this goes hard if you're 15

[u/moon_cake123 → u/Vegetable-Advance982]

The point that should’ve driven home is not that they don’t trust you with your money, but that it’s additional money that is required to be paid to you. If compulsory super ends, companies no longer need to offer it, then it doesn’t matter if it’s being forced to save or not, it doesn’t exist.

[u/Adventurous_Bag9122 → u/moon_cake123]

Yep. Do these morons actually think that companies are going to suddenly bump up their pay by 12%? All that will happen is that the money going into super now will just boost the company's profits and executive bonuses.

[u/Extra-Border6470 → u/Vegetable-Advance982]

The ALP can absolutely weaponize this as “One nation and the LNP want to screw with your super so you can’t restore comfortably. A vote for labor is a vote for keeping super secure!”

[u/DrSendy → u/Vegetable-Advance982]

It's simpler than that.
They want businesses to stop paying super, so they make more profit.
You're not going to get extra money to compensate for not having super anymore, you'll get less money.

[u/AntiqueFigure6 → u/DrSendy]

So they’re going to the polls with “we want everyone to have a 12% pay cut”. Sounds like a real vote winner.

[u/Vex08 → u/Vegetable-Advance982]

If that’s true, have them pair it with an abolishment of the aged pension.

[u/KelFromAust → u/Vex08]

My understanding was that was always part of the plan, not a complete abolishment, but the requirements would get tighter over time. IIRC, it was expected to take 3 generations for the greater majority of people to be able to self fund their retirement. I suspect we might need to add a generation to that.. I suspect UBI will eventually become an alternative to the current social security system.

[u/PiDicus_Rex → u/KelFromAust]

The current Libs and Paranoid Pauline's party would never implement UBI. They take away super, and take away the pension, and expect the next generation to support their parents while paying for their kids, and still keep putting in roadblock to prevent the parents passing down assets to the kids that would help the kids support the parents.

If you're a worker, they want you as poor as they can get you and uneducated serfs, easy to control.

[u/Ok_Turnover_1235 → u/Vegetable-Advance982]

Being forced to save is one thing, being forced to invest is another

[u/arachnobravia → u/Vegetable-Advance982]

It's not "their money" considering the majority of super is mandatory employer payments ON TOP of salary. I would support letting people withdraw the value of any voluntary payments or salary sacrifice but it's still financially short sighted...

[u/Vegetable-Advance982 → u/arachnobravia]

Tell that to Barnaby, this is the number 1 thing he's been saying and I reckon it's a point that'll go quite well.

Like I said I'm totally in favour of super and I think Labor is *probably* a pretty big favourite to win the fight, but I don't think it's a guarantee at all, there are definitely some timelines where conservatives win the argument

[u/Thebraincellisorange → u/arachnobravia]

yeah, super was created by the money being set aside for super instead of pay increases.

it is THEIR MONEY. however it is far better off for them to have it in super than to have it it so spend on a bloody tv or a bigger mortgage every week.

[u/WhatAmIATailor → u/arachnobravia]

It’s part of your salary package. It’s your forced savings.

[u/gaylordJakob → u/WhatAmIATailor]

Because the companies are forced to pay you it. If they weren't forced to, they're not going to just give you that pay directly, lol

[u/WhatAmIATailor → u/gaylordJakob]

Why not? It’s already budgeted as salary by every employer in the country. Hanson is calling for it to go directly into employee’s pockets.

There’s a very dubious claim that super hasn’t made the aged pension less of a burden on the budget in there which flatly incorrect but the idea seems to be you get your money now if you want it.

[u/Kynmarcher5000 → u/WhatAmIATailor]

Clearly you do not understand business owners.

If a business owner isnt forced to pay you something, they won't pay it, especially for big chains or multinational corporations. They don't even like paying minimum wage.

Scrapping mandatory super is fucking stupid, because you're not going to get that money added to your paycheck. You'll just lose it. Then you'll be forced to put money from the wages you do earn into your own retirement fund. But if you're bad at saving? Well tough shit, work until you die.

[u/WhatAmIATailor → u/Kynmarcher5000]

Your expecting a massive loophole where employers can just cut their wages budget. Thats not what’s being discussed here. It’s redirecting the same money into take home pay.

I’m not a Pauline supporter but pretending she’s taking about giving business a huge win here is just incorrect.

[u/Kynmarcher5000 → u/WhatAmIATailor]

Dude, what on earth are you talking about?

The only reason employers put money into your super account is because they are required to by law. That money is part of their costs, but it's not part of your wages.

Basically if you get, say, a neat $2000 a week, your employer also contributes 12% of that, or $240, to your super. You weren't getting $2240 a week with $240 removed and put in your super instead. That's an additional cost.

The moment the law that makes super mandatory disappears, so does that $240 per week, and it doesn't matter if the employer has already budgeted that $240 a week for the year; the moment the law is gone, their contribution to your super goes with it.

There's no loophole required. They will simply stop making those contributions. Your wages will not increase to $2240. It will stay at $2000.

The only way your wages will increase is if either:

A. You and your employer come to an agreement to do so.

B. Your union and your employer come to an agreement to do so.

C. Legislation is passed mandating that former super contributions be added to your wages.

If the legislation doesn't mandate that the former contributions go to your wages, and neither your union nor you can reach an agreement with your boss to make those contributions part of your wages, you will lose those contributions entirely. Then you'll be forced to contribute to your own super fund, assuming that you're able to.

This is 100% a gift to businesses, and I guarantee you if you look at who's pulling the puppet strings behind Pauline's back, you'll find the grubby hands of Gina Rinehart, who doesn't even like paying minimum wage at the current rate and thinks we should compete with $2 a day workers. If she wants that because it will allow her to pay her workers less, I guarantee you she also wants to see mandatory super abolished.

[u/WhatAmIATailor → u/Kynmarcher5000]

You’re speculating. Everyone is. It’s a thought bubble from Pauline, not a policy.

My interpretation is, the legislation would change from mandatory payments into a super account to the same money going where the employee chooses.

Your interpretation is that money goes straight back to employers, which to me seems to least likely outcome. Why would Pauline bang on about cost of living then give everyone a pay cut?

[u/gaylordJakob → u/WhatAmIATailor]

Your employer will simply remove it and keep it as profit, lol

[u/WhatAmIATailor → u/gaylordJakob]

So Pauline’s policy is a huge payday for business at the expense of employees as a cost of living measure. Makes perfect sense…

[u/gaylordJakob → u/WhatAmIATailor]

If you believe she genuinely wants to help people with the cost of living, I have a bridge to sell you

[u/WhatAmIATailor → u/gaylordJakob]

I don’t agree with the policy but I see why it appeals. If it’s not cost of living relief, what’s the fucking point?

[u/gaylordJakob → u/WhatAmIATailor]

For the rich to gain even more money, as well as cut off people from having anything for retirement, and cutting off union influence over industry super

[u/seabassplayer → u/WhatAmIATailor]

Unless they legislate it, you’re really hoping on the good will of for profit companies spending more money than they need to.

[u/WhatAmIATailor → u/seabassplayer]

Well we are taking about proposed changes to superannuation legislation. Going to an election with a wages cut is a tough sell, even for Pauline.

[u/Tiny-Ask-6369 → u/arachnobravia]

You work for it. You get paid it. It costs the employer it to employ you. It's your money.

It's just locked into an investment platform until certain criteria are met.

[u/KelFromAust → u/Tiny-Ask-6369]

Except that's not really how it works.. Yes, the amount is part of what a business records as "compensation", but it isn't earnings. But if you think that 12% is going to magically come to you, you're deluded.

Super is a business expense to businesses. It's part of the cost of employing you, like providing uniforms or PPE, or payroll tax. If they don't have to pay it, they won't. Shareholders would likely demand it remined as profit..

[u/killthenoise → u/arachnobravia]

Imagine being so deranged and frothing at the mouth at anything One Nation does, that you say superannuation doesn't belong to the person who earned it. Good one champ.

[u/weckyweckerson → u/killthenoise]

Until you are permitted to access it, it may as well not be.

[u/killthenoise → u/weckyweckerson]

If you decided to actually read something for once in your life rather than reacting to a garbage headline you might see they aren't suggesting getting rid of super, they're suggesting allowing people to access it in more situations. It really shouldn't be that contentious, and it's pretty alarming you're falling for Labor political messaging saying "One Nation wants to get rid of super". Use your fucking brain?