Media Releases

New Data: Super Swells Union Piggybank

New data reveals the super funds have paid $10m to trade unions in the financial year 2019-20.

This will balloon to $30m by 2030. This is based on the latest aggregated data from the Australian Electoral Commission.

Superannuation is not supposed to be a piggy bank for unions or for the financial sector.

It is a fat and happy system without an objective that is wholly focused on itself.

As union membership has collapsed, super funds have filled the Labor Party and coffers.

This must stop.

We have legislation before Parliament to ensure trustees run super funds for the benefit of members.

These reforms are essential to stop vested interested plundering workers’ savings.

MEDIA | John Mangos | 0401 392 624

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