Dave Bell

I can understand Brian Boyd’s frustration concerning the Superannuation Guarantee Scheme (SGS) in “Superannuation: A Generation Betrayed” (Green Left Weekly #1144 and #1145).  The original promise was short on delivery.

He is right to point out the inequity that existed in providing superannuation for workers prior to 1992.

Twenty years ago, superannuation was an employment benefit enjoyed only by public sector workers and management level employees in the corporate sector. Most workers had no access to superannuation.

Today “super” is an “industry” of great value and interest to finance capital. The $1.3 trillion in superannuation funds came in handy when the ongoing “great financial crisis” (GFC) began in 2008. It was a lifeline for Australian corporations caught short.

What happened to create this behemoth?

This will come as little surprise to most workers, but their workplace superannuation is being systematically rorted and they are on the losing end of the “bargain”.

ASIO: The Enemy Within

Written & published by Michael Tubbs, 2008

275 pages,$25

Available from the Search Foundation, lvl 3, suite 3B, 110 Kippax St, Surry Hills, NSW

Ph 9211 4164, fax 9211 1407

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