LETTERS: by Robert BomNews Weekly
Superannuation and the ALP (letter)
, October 19, 2002
The idea of a National Superannuation Scheme sits well with people and the Labor Party is fully aware of this issue. There is a sticking point. The ALP is rock solid on one condition for such a plan. It has to be controlled by the union movement or there will be none at all.
It was that one single demand on which Mr Hawke's Superannuation Bill foundered back in 1983. Since that time, the unions have established their industry and award based superannuation funds on the back of the life insurance industry, subject to industrial laws.
It is this union-based system that the ALP wants to back and reform into a national superannuation plan.
A number of superannuation initiatives are now part of the ALP policy platform adopted at Hobart. Industrial laws and therefore the union-dominated industry superannuation system will prevail over all other legislation.
The influence of the Trade Practices Act over industrial laws will be removed. Any other choice, no matter how good, will be barred if it undermines well-run union industry funds.
The question for the electorate at the next election will be if they will allow the ALP and the unions to go ahead with this blatant piece of feather-bedding.Robert Bom,