Fund members still resisting super engagementBY ALEX DUNNIN | THURSDAY, 17 OCT 2013 12:00PMDespite the considerable work by super funds to engage their memberships, two just released consumer surveys have again affirmed the difficulty they face in gaining traction among members. Related News |
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This issue will remain despite the efforts of funds. The reason is simple - the members simply do not see it as their money until they get older. The fact that they do not have to contribute and be involved in funding their retirement is the primary fact. Money would be better spent on lobbying Governments to introduce compulsory member contributions, including a compulsory increase in taxation of self-employed persons with the increase being their contribution to their retirement. The fact that self-employed individuals can "usually" find far greater tax deductions than employed persons means that they become a "drag" on future taxpayers having to fund their Age Pension "entitlements". The other fact that many conducting business in many industries these days force employees to obtain ABN's & become "self employed" sub-contractors to escape SGC obligations, despite the "rules" and the absence of any serious action by the ATO to successfully address this issue causes an imbalance in tax revenue, community obligations and forces greater obligations on tomorrow's taxpayers who actually pay it!