Voluntary Superannuation

Australia is the only country in the world with compulsory superannuation.

New Zealand held a compulsory retirement savings scheme referendum in 1997 and it was rejected with an against vote of 92%.

The Keating Government introduced the Superannuation Guarantee at a mandatory 3% in 1992. This has incrementally increased and
Australia’s 13 million workers are now forced to contribute 12% of their income.

As at 2025 there are $4.1 Trillion dollars of funds under management. The largest allocations of funds (30%) are invested in companies listed on overseas securities exchanges.

Board members of superannuation funds are not elected and
award themselves $37 Billion/year in management fees.

Compulsory superannuation is undemocratic and assumes the
Australian worker does not have the ability to make financial
decisions in their own best interest.

It is wage theft and places the financial future of millions of Australians at the mercy of international financial markets.

Australian superannuation assets lost 27% during the GFC of 2008.