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Super wars are all about power – and far from over

The purpose of superannuation should be retirement savings. But in practice it’s about bringing Australians to heel as serfs to industry funds.

Tim Wilson and Jason Falinski

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At last week’s superannuation lending roundtable, federal Treasurer Jim Chalmers carried the bravado of George W. Bush’s “Mission Accomplished” moment, proclaiming “the super wars have largely been won”.

It’s insightful that a debate about how Australians use their own money is deemed a “war”, but it should be welcomed that Treasury has been tasked with developing a legislated purpose for the system.

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Tim Wilson is a former Liberal MP and author of 'The New Social Contract'.
Jason Falinski was a federal Liberal MP and former president of the NSW Liberal Party.

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    Original URL: https://www.afr.com/policy/tax-and-super/super-wars-are-all-about-power-and-far-from-over-20220829-p5bdp3