Powered by MOMENTUM MEDIA
lawyers weekly logo
Advertisement
News
12 September 2025 by Maja Garaca Djurdjevic

When perception holds the power

Money, markets, even central banks – what really gives them power isn’t substance, it’s belief. Op-Ed That lesson plays out vividly in the Spanish ...
icon

Royalties deliver on diversification but scalability remains uncertain

As royalties investing reaches record highs overseas, market experts in Australia are divided on its potential

icon

Brighter Super scales membership through mergers and successor fund transfers

Brighter Super has expanded its footprint in the superannuation sector through a combination of mergers and successor ...

icon

Rising costs and data centres cast doubt on AI returns

Artificial intelligence continues to reshape global markets, driving significant investment flows while leaving tangible ...

icon

ART, UniSuper and Aware Super secure gold amid sector challenges

A ratings firm has placed more prominence on governance in its fund ratings, highlighting that it’s not just about how ...

icon

APAC family offices lean defensively in portfolio construction with higher cash allocations

Family offices in the Asia-Pacific have maintained higher cash levels than regional contemporaries, while global ...

VIEW ALL

Super body takes aim at Abbott

  •  
By Christine St Anne
  •  
4 minute read

The opposition leader's lack of support for super reforms is jeopardising people's retirement savings, AIST says, while IFSA is calling for the coalition to reverse its position on super.

The Australian Institute of Superannuation Trustees (AIST) has taken aim at opposition leader Tony Abbott's lack of support for the superannuation reforms announced by the government.

The move follows the opposition continuing to say it would to block the resources super profits tax (RSPT), which would subsequently affect a number of the reforms.

"Superannuation policy must not get lost in the debate in the mining industry," AIST chief executive Fiona Reynolds said at the association's breakfast in Sydney yesterday.

The superannuation reforms include an increase in the superannuation guarantee (SG) to 12 per cent.

 
 

"Tony Abbott has called the extra 3 per cent SG a big fat payroll tax. Well, Tony Abbott will also get a big fat parliamentary pension of $80,000 a year that will be paid for by the taxpayer," she said.

"Yet Abbott will deny voters an increase in their retirement savings."

She said the industry must stay focused and maintain one voice so that in the end "good policy will win out".

AIST's comments follow those of Investment and Financial Services Assocation chief executive John Brogden, who called on the opposition to reverse its decision to oppose the 3 per cent increase in the SG.

Brogden was responding to a speech by opposition treasury spokesman Joe Hockey to the National Press Club yesterday.

Brogden claims that Hockey announced that the coalition's savings measures included rejecting the increase in the SG from 9 per cent to 12 per cent.

"The coalition must reverse its position on the SG. This is a bad outcome for Australians and their retirement incomes," Brogden said.