The Super Members Council is proud to have supported the launch of Parliamentary Friends of Superannuation at Parliament House in Canberra last night, bringing together an excellent turnout of MPs and Senators from right across the political spectrum in their shared stewardship of super to deliver for 17 million everyday Australians.
The non-partisan friendship group was newly formed last year with wide representation of MPs and Senators from across the Parliament by co-chairs Senator Lisa Darmanin, Senator Nick McKim and Pat Conaghan MP – who has now handed the co-chair baton to newly-appointed Shadow Assistant Treasurer Kevin Hogan.
Australia’s super system is the envy of the world, playing a key role in strengthening household financial security, delivering higher retirement incomes for millions of Australians, and driving economic growth.
The latest research report by the Council released this week shows wealth levels for middle Australia have tripled in 20 years for recent retirees, with super the key driver of that strong growth in prosperity.
And a ‘silver tsunami’ of 2.8 million Australians is now racing towards retirement in the coming decade. This demographic influx will double the number of Australians newly retiring each year from 150,000 to 300,000.
These trends underline the importance of all Parliamentarians and the super sector working closely together to ensure policy settings continue to keep super strong and secure so it can deliver for millions of Australians in retirement.
Parliamentary friendship groups are a highly effective and well-established mechanism for Parliamentarians and their staff to engage with systems, sectors and policy areas that are hugely important to everyday Australians.
Super Members Council CEO Misha Schubert said the formation of the new Parliamentary Friends of Super reflects a valued shared commitment from right across Parliament to ensure the super system continues to work in Australians’ best financial interests.
“Super is one of Australia’s shining economic and social policy achievements, and it’s crucial that policymakers from across the full breadth of the Parliament have a valuable forum to engage with sectors and organisations on how to protect and strengthen it for current and future generations,” Ms Schubert said.
“We’re delighted to have supported the launch of the newly formed Parliamentary Friends of Superannuation, just as countless other member associations and groups in other sectors support these types of forums in a wide array of policy areas.”
