Paul Howes had an extended op-ed in the AFR Review on Friday talking about compulsory Super. In it he relates this anecdote:
I can’t recall the member’s name, but she was a middle-aged woman who just started working part-time in an automotive components plant in western Sydney. She was confused and irate about her boss withholding a section of her wages. She was certain it must be a mistake.
We talked it out and it became clear that her problem was her compulsory superannuation contribution. I told her that was actually fine and legitimate. She was not reassured.
“No, the government pays my superannuation,” she said. “It can’t be up to my boss to take money out from my wages without asking me.”
No, I explained, that was exactly how it worked.
I think a lot of people still think that – certainly a lot of people got that impression during the 2010 mining tax debate that included increasing Super contributions.
What I don’t understand, however, is why the current government doesn’t make more of the fact that ALP anti-business sentiment and policy is undermining the retirement incomes of those millions of Australians that have a large chunk of their life savings tied up in Super.
Also read the Howes op-ed – he has come a long long way since joining the corporate world.