Matt Thistlethwaite (Kingsford Smith, Australian Labor Party, Shadow Assistant Minister for Financial Services) Share this | Link to this | Hansard source

Last night, Senator Andrew Bragg belled the cat about what those opposite in the coalition really think of compulsory superannuation in Australia—that is, that it should not be compulsory. Yesterday Senator Bragg argued that low-paid workers should be able to opt out of compulsory superannuation and it shouldn't be compulsory. We all know that those opposite do not believe in the notion of workers saving for their retirement to avoid being on the age pension. They don't believe in compulsory superannuation for low-paid workers. Senator Bragg's comments come after others in the coalition this week, most notably the member for Goldstein and the member for Mackellar, have been arguing that the coalition government should stop the compulsory increase in superannuation payments from nine to 12 per cent, with the member for Mackellar saying that frustration is building with the government's policy.

Those opposite have never, ever believed in compulsory superannuation. At every stage they have voted against it. When Labor moved to establish compulsory superannuation in the 1990s, they voted against it. Those opposite have voted against every single increase in the level of compulsory superannuation. It comes when Australian workers are facing record low wages growth, families are struggling and now this lot want to rub salt into the wound by saying that low-paid workers don't deserve an increase in their compulsory superannuation. You are a disgrace.