The Government should focus on supporting families and not pursing “their pet political issues” when it comes to superannuation, the Australian Council of Trade Unions (ACTU) believes.
The ACTU said super members should not have to choose between owning a home and a dignified retirement but that was a choice the Government had given Australians from their demands that super could be used for first home deposits.
ACTU president, Michele O’Neil, said: “This idea also makes no sense it will simply increase house prices and decrease the amount that superannuation funds have to invest in housing and other infrastructure projects.
“Without a decent superannuation system we’ll go back to a world where most people retire on a on pension that barely puts food on the table.”
O’Neil said super needed to be protected to provide Australians a dignified retirement, and should not be used “as a Liberal Party piggy bank to be dipped into whenever the Government decides”.