19 June 2012, 190612, ageing population, Australia’s superannuation scheme, Gerard Noonan, GFC, global financial crisis, super
Gerard Noonan explains why Australia’s superannuation scheme is a shining beacon amongst the world’s retirement schemes.
Australia’s super scheme is unlike any other in the world. Anticipating our ageing population and an unsustainable increase in pension payments, the Keating government introduced a scheme which required financial contributions from workers and employers. With generous tax concessions and 25 years under its belt, super funds are now worth over $1.4 trillion. Australians now have more money invested in managed funds per capita than any other economy.
That doesn’t mean there hasn’t been criticism. With the GFC still biting shares and Europe’s woes likely to contribute to a weakening market, many changes have been mooted by various quarters. Some are calling for more investment in local infrastructure while others are questioning whether there is an overinvestment in the sharemarket.
Gerard Noonan tells 3Q the reasons why super is well worth the investment.
24 April 2012, 240412, 3q, Ep 9, super
Mark Delaney explains how super funds are delivering good returns through investing in infrastructure.
We all rely on energy, communications, transport and dozens of other public utilities.
Traditionally it’s been the role of governments to fund such vital infrastructure.
But the costs involved mean governments are increasingly handing that role to the private sector — and that includes super funds.
If you’re a member of AustralianSuper, you may already be investing in new energy production, airports, ports and the like.
Mark Delaney, Deputy CEO and Chief Investment Officer at Australian Super, tells 3Q that the long term nature of infrastructure funding and the solid returns make it an attractive investment.
02 April 2012, 020412, Polling, polls, super, super payments, superannuation, superannuation increase, superannuation payments
Q. Do you support or oppose the Federal Government’s plan to increase superannuation payments from nine per cent to 12 per cent by 2019-20?
|
23 May 2011 |
Total |
Vote Labor |
Vote Lib/Nat |
Vote Greens |
|
| Total support |
69% |
69% |
80% |
66% |
72% |
| Total oppose |
13% |
13% |
7% |
19% |
7% |
| Strongly support |
21% |
29% |
43% |
25% |
25% |
| Support |
48% |
40% |
37% |
41% |
47% |
| Oppose |
10% |
8% |
4% |
12% |
3% |
| Strongly oppose |
3% |
5% |
3% |
7% |
4% |
| Don’t know |
18% |
18% |
13% |
16% |
22% |
69% support the Federal Government’s plan to increase superannuation payments from nine per cent to 12 per cent by 2019-20 and 13% oppose – no change since this question was asked in May last year. However, the strength of support has increased with 29% strongly supporting the measure (up 8%).
Support is higher for those aged 35-54 (76%), full-time workers (76%) and those earning over $1,600pw (77%).
02 April 2012, 020412, Cost of Superannuation, employer superannuation payments, employers, Polling, polls, super, superannuation
Q. In the next two years employer superannuation payments will increase by 0.25% per year, and then by 0.5% each year up to 2019 when it reaches 12%. Do you agree or disagree that these increases are reasonable and affordable for employers or should employees bear the cost by accepting lower pay rises?
|
Total |
Vote Labor |
Vote Lib/Nat |
Vote Greens |
|
| This is a reasonable and affordable cost for employers |
58% |
68% |
50% |
62% |
| Employees should bear the cost by accepting lower pay rises |
19% |
12% |
26% |
14% |
| Don’t know |
23% |
20% |
23% |
24% |
58% think that the yearly superannuation increases are a reasonable and affordable cost for employers and 19% think employees should bear the cost by accepting lower pay rises.
Those most likely to think the increases are a reasonable and affordable cost for employers were aged 25-44 (67%), full-time workers (66%) and those earning over $1,0000pw (64%).