Our catastrophic superannuation system

July 2, 2025

Australia’s compulsory superannuation system, a $4 trillion behemoth, is, in my opinion, a catastrophe. In its essence, it serves to effect massive transfers of wealth from the less well-off to the most well-off.

It ensures that your socioeconomic status during your working years will continue inexorably into your retirement years – the antithesis of the Australian “fair go”. Think, just for a moment, of those who didn’t actually work much or at all (in the paid sense) during those years — carers, disabled people, life’s battlers — condemned to get by solely on the old age pension – whose inadequacy we ignore because we believe that super has retirement funding sorted.

I could go on, but why take the word of an amateur? Some experts to look at include Cameron Murray, Robert Lechte and The Australia Institute.