Australia’s $1.3 billion superannuation industry has changed the lives of millions of Australians but, until now, very little has been written about the passions and politics behind our world-renowned retirement income system.
A SUPER HISTORY by Sydney financial journalist and commentator, Christine St Anne, more than fills this gap by providing a fascinating and at times controversial account of the shakers and movers behind the industry.
Starting with the union struggle for superannuation, St Anne then follows the political struggle to legislate for the compulsory superannuation, and the phenomenal growth of the industry and in particular the industry funds. Along the way, she shares the inside stories of super pioneers, Paul Keating and Bill Kelty, as well as those of more than 40 other key players – both past and current – all of whom were passionate that the history needed to be recorded.
A SUPER HISTORY also puts Australia’s superannuation system in an international context. While many countries – particularly in Europe – are currently battling enormous unfunded pension liabilities and a disgruntled ageing workforce, our super system is widely regarded as having protected Australia from greater fall-out from the global financial crisis.
Given the current debates on lifting the super contribution limit to 12%, the dramatic impact of the GFC on the retirement savings of many baby-boomers plus the increasing focus on the governance of the super industry, A SUPER HISTORY is a must-read for anyone who seeks a better understanding of why super exists and whether it has been a good thing for all Australians.
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