Why rightwing critics are wrong to say the Australian super system is broken
This analysis defends Australia's compulsory superannuation system against criticism from conservative politicians who claim it is a policy failure. The author argues that the system remains fiscally stable and is a model for retirement savings globally.
Why it matters
It addresses a significant debate in Australian economic policy regarding the long-term sustainability and effectiveness of mandatory retirement savings.
Forcing workers to have part of their salary invested for retirement is a policy envied by other countries. Photograph: Lukas Coch/AAP Forcing workers to have part of their salary invested for retirement is a policy envied by other countries. Photograph: Lukas Coch/AAP Superannuation Analysis Why rightwing critics are wrong to say the Australian super system is broken Patrick Commins Spending on aged pension will be stable for decades to come, experts argue, despite claims by Bragg and Hanson
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Is Australia’s superannuation system “one of the biggest policy failures since federation”? Is “the whole system broken”?
Australia’s $4.4tn compulsory super regime is generally considered among the best in the world, yet conservative politicians such as Andrew Bragg, the Coalition’s putative shadow housing minister, and Pauline Hanson , One Nation’s leader, seem to hate it.
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