The peak body for working people has backed calls for all workers to receive superannuation.
A joint submission to the Senate select committee on the future of work by two of Australia’s largest industry super funds, CBUS and AustralianSuper, found that 2.3 million Australians are missing out on superannuation.
Self-employed contractors, people on low incomes and people working more than one job are not getting the compulsory 9.5% superannuation payments that are compulsory for people in more traditional employment arrangements.
The ACTU said that the current 9.5% threshold should be upped to 12% as soon as possible – a planned move that had been frozen by the Abbott/Turnbull Government.
Quotes attributable to ACTU Chief of Staff Ben Davison
“Superannuation is for everyone.”
“Working people fought for superannuation so that all workers could enjoy a future with dignified, secure retirements.
“Millions of working people are missing out because people in contracted work and the gig economy are falling through the cracks of our superannuation system.
“People are going to retire in poverty unless we take the necessary action to make sure that superannuation is for everyone.
“It’s time for employer-contributed superannuation to be extended to every worker so that a comfortable and dignified retirement is a right for working Australians.”