29 November

The real reason the feds are so interested in super is in that first line, industry super is set to control half of Australia’s economic output within 5 years. Industry super is the 21st century version of unions in a way. It’s working peoples’ money. And that money is starting to talk, forcing massive changes to things like climate change policy. It also regularly outperforms private super, administered by banks and other private providers. It’s not-for-profit, so nobody needs to take a big cut of your money. Also why the federal LNP was delighted to let people raid their super in the pandemic, they’ll encourage anything that undermines it.