The ACTU has backed a campaign initiated by the Queensland Nurses Union aimed at protecting the superannuation of lower paid Australians, particularly women.
The campaign relates to a recommendation by the Business Regulation Taskforce to increase the monthly threshold for employer superannuation contributions from $450 to $800.
The unions are arguing that if the Government were to adopt the recommendation, hundreds of thousands of lower paid workers, including casual and part-time employees, would not be eligible to receive any superannuation payments from their employers.
The Government is expected to respond to the Business Regulation Taskforce recommendations by the end of next month, with the unions lobbying the Prime Minister, John Howard, against accepting the proposition.
The unions are not only arguing for the rejection of the recommendation, but also for the complete abolition of the income threshold.
Following the roundtable, the Treasurer said the government plans to review the superannuation performance test, stressing that the review does not signal its abolition.
The Australian Prudential Regulation Authority (APRA) has placed superannuation front and centre in its 2025-26 corporate plan, signalling a period of intensified scrutiny over fund expenditure, governance and member outcomes.
Australian Retirement Trust (ART) has become a substantial shareholder in Tabcorp, taking a stake of just over 5 per cent in the gaming and wagering company.
AustralianSuper CEO Paul Schroder has said the fund will stay globally diversified but could tip more money into Australia if governments speed up decisions and provide clearer, long-term settings – warning any mandated local investment quota would be “a disaster”.