Bill's Media Releases


Heading to Darwin today, the Minister for Superannuation Bill Shorten said Territorians know they should never smile at a crocodile, but they might not know Tony Abbott wants to cut their superannuation to the bone should he be elected in September.

 Tony Abbott’s broken promise on superannuation means he will rip away retirement security from nearly 62,000 Territorians which currently contribute less than 12 per cent to their retirement savings.

 Tony Abbott has also promised to reintroduce a 15 per cent tax on superannuation contributions for around 33,000 low-paid and part time workers in the NT earning less than $37,000.

 It is little surprise that Tony Abbott has promised to attack the savings of employees in the Territory as he’s always thought superannuation was a croc.

 He’s described it as a ‘con-job’ and a ‘confidence trick’, and as recently as last year said:

“We have always as a Coalition been against compulsory superannuation increases."



23 MARCH 2012

In stark contrast to Tony Abbott’s Liberals, the Gillard Labor Government is boosting the superannuation of hard working Australians by increasing the compulsory contribution from 9 per cent to 12 per cent starting 1 July 2013.

Under Labor, a person aged 30 today on average full-time earnings will retire with an extra $127,000 in superannuation savings.

The choice at the next election couldn’t be clearer.

Labor created super and is the only political party interested in growing the retirement savings of hard working Australians.

The only thing Tony Abbott and the Liberal Party are interested in is cutting superannuation to the bone.