Having any law that is retrospective in nature – reaching back into the past - should concern all Australians as it sets a precedent for any economic and social vandals that come into power in the future.
In 2013 the Coalition promised greater stability and certainty on superannuation, that they wouldn’t move the goal posts. They promised they would “ensure that no more negative, unexpected changes occur in the superannuation system so that Australians planning for their retirement can do so with confidence."
With the changes to superannuation back dated to 2007, and with the $1.6 million cap, the Coalition has opened the door to a Labor/Greens government reaching even further and deeper into the long term savings of a growing number of Australians.
Why would Australians work hard to build up their super funds that they can’t access for many years knowing the government of the day might go and raid those funds at any time?
Family First does not support retrospective laws, or government policy that creates public uncertainty in the superannuation system.
Rod McGarvie, Senate Candidate Family First