National superannuation (letter)by Robert BomNews Weekly
, April 24, 2004
The debate about superannuation appears to be in a void presently. There is some noise from our political leaders about fees, charges, taxes, inadequate contribution levels and a little about age issues.
The Liberal Party has never shown itself to be completely comfortable about superannuation. In addition it has the discomfort of a Senate leaning towards Labor on issues such as these. The Labor Party's policy is driven by market-oriented and union-dominated industry groups, which have more expertise than the Liberal ministers on the subject.
At the moment it would seem that the Labor Party is prepared to be a small target on superannuation and for good reason. Should they regain the Treasury benches, particularly with a friendly Senate, we can expect an explosion of activity into pushing the union industry solution for a National Superannuation Plan.
The Liberals could be bolder and come out with a policy for National Superannuation based on existing structures and freedom of choice. It could be a more acceptable proposition than waiting for the unions to take charge over people's hard-earned savings.Robert Bom