SMC welcomes Shadow Assistant Minister’s call to protect super

The Super Members Council welcomes Shadow Assistant Minister Garth Hamilton’s clear-eyed comments today that superannuation should be protected for its intended purpose: to deliver retirement income for millions of everyday Australians.

 “It’s your Super and no government should mess with it,” Mr Hamilton said in a statement.

“Read my lips, no changes to Super.”

His comments reflect the community’s clear views on super. Australians understand that super’s job is to provide greater financial safety, security and dignity in retirement. That is an achievement our world-class super system is delivering for millions of everyday Australians.

With 80 per cent of Australians saying super will be crucial to their retirement, policymakers should listen to the community and protect the savings Australians have earned for their future.

Older Australians with lived experience of the benefits of compulsory super are crystal clear: 89% of seniors say super should be saved for retirement and say they are concerned about early release proposals.

The Council’s CEO Misha Schubert welcomed the Shadow Assistant Minister’s comments.

“These comments reflect what Australians instinctively understand: super will be your pay cheque in retirement – and it shouldn’t be undermined or diverted to other policy problems,” Ms Schubert said.

“Withdrawing super early would just hurt battling Australians by further stoking inflation and interest rates and making it even harder for struggling households to make ends meet.”

“The super system is delivering for millions of everyday Australians. By protecting everyone’s super for their retirement, we can keep building on that success and give future generations even greater financial security.”