Gays and lesbians have been given little hope of achieving the same rights over their partner’s superannuation assets as heterosexual couples, despite the introduction of legislation designed to remove discrimination against homosexuals in super laws.
Labor member Anthony Albanese has re-introduced the Superannuation (Entitlements of same sex couples) Bill into the federal Parliament, but holds little hope for its success, after three previous attempts to pass the legislation failed when the Government refused to allow time for it to be debated and voted upon.
“Discrimination against same sex couples regarding their superannuation is just too blatant. A civilised society committed to human rights cannot possess legislation as discriminatory as the current legislation is,” Albanese says.
In practical terms, Albanese’s private member’s bill seeks to remove discrimination against gay and lesbian couples in superannuation law by redefining the term ‘spouse’ to include same-sex partners who are financially dependent on one another.
In April last year, a Senate Select Committee on Superannuation report into the Albanese proposal concluded that prejudice against same sex couples in superannuation could no longer be tolerated.
However, the Bill floundered after Government senators on the Committee argued that superannuation should not be the ‘lead vehicle’ for the implementation of significant social change.
Albanese says same sex couples have little hope of getting equal access to their super benefits as long as John Howard remains Prime Minister.
“I have no problem with the Prime Minister personally wanting to live in a society in which there are nuclear families living behind white picket fences, as they did in the fifties, but there is no reason why he should demand that the rest of Australia stay back with him to keep him company.”
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
Super balances have continued to rise in August, with research showing Australian funds have maintained strong momentum, delivering steady gains for members.
Australian Retirement Trust and State Street Investment Management have entered a partnership to deliver global investment insights and practice strategies to Australian advisers.
CPA Australia is pressing the federal government to impose stricter rules on the naming and marketing of managed investment and superannuation products that claim to be “sustainable”, “ethical”, or “responsible”, warning that vague or untested claims are leaving investors exposed.