Bill's Media Releases

SIXTH SUPER ROUNDTABLE

Minister for Financial Services and Superannuation, Bill Shorten, today hosted the sixth Super Roundtable as part of the Gillard Government’s ongoing reform agenda.

“Labor is the party of superannuation; we established super and we continue to improve it,” said the Minister.

 “The fact is Australians are living longer and they will need to be encouraged to have adequate savings to retire comfortably.”

 Today the majority of working Australians are retiring with lump sums of just under $40,000 and the average balance in super is just over $150,000 for men and $90,000 for women.

 The Roundtable brings together representatives of the superannuation industry, small business, employees and the community sector, as well as technical experts and academics.

The Roundtable discussion will build on the significant superannuation reforms announced by the Gillard Government, which include;

  • Increasing universal super from 9 per cent to 12 per cent, and

  • Cutting contributions tax from 15 per cent to zero for the 30 per cent of workers who earn less than $37,000


“Our superannuation system needs to be fair, consistent, stable and it needs to be sustainable in the long term.”

 “That is what I have been talking to the industry about during this reform process and that was the focus at the Super Roundtable today.”

 “In complete contrast, Tony Abbott has promised to cut up to $500 a year from the super accounts of the 30 per cent of Australian workers earning $37,000 and under.”

 *A list of the Super Roundtable members is below.

 

Mr Shorten’s Media Contact: Jessica Lindell 0408 642 804

 

Superannuation roundtable members


















































































Name



Organisation


Bill Shorten Chair
Minister for Employment and Workplace Relations
Minister for Financial Services and Superannuation
Hazel Bateman School of Risk and Actuarial
University of New South Wales
John Brogden Chief Executive Officer
Financial Services Council
Everald Compton Chair
Advisory Panel on Positive Ageing
Tom Garcia Chief Executive Officer
Australian Institute of Superannuation Trustees
Paul Gerrans Business School
University of Western Australia
Dr Cassandra Goldie Chief Executive Officer
Australian Council Of Social Service
Melinda Howes Chief Executive Officer
Actuaries Institute
Tim Lyons Assistant Secretary
Australian Council of Trade Unions
Alex Malley Chief Executive Officer
CPA Australia
Joint Accounting Bodies representative
Mark Rantall Chief Executive Officer
Financial Planning Association
David Richardson Senior Research Fellow
Australia Institute
Nick Sherry Sherry Int.
Andrea Slattery Chief Executive Officer
Self Managed Superannuation Funds Professionals’ Association
Peter Strong Executive Director
Council of Small Business of Australia
Pauline Vamos Chief Executive Officer
Association of Superannuation Funds of Australia
David Whiteley Chief Executive
Industry Superannuation Network
Cate Wood Chair
Women in Super