Should the government top up low income earners' super more?
Advocacy group Women in Super’s new policy platform wants the government to add $1000 each year to low income earners' super until the balance hits $100,000.
The policy is designed to make sure those on low incomes or caring for others are not left behind.
Currently the government can contribute up to $500 a year to your super if you earn less than $57,016 per year.
Women in Super policy chair, Robbie Campo said: “Australia’s superannuation system is built on the inherent gendered inequality that compulsory super is paid on wages. As women earn on average less than men, and are more likely to take time out of the workforce for caring responsibilities, the system doesn’t work for them in the same way.”
Is this the way forward? Will it be cheaper in the long run than having people on the Age Pension?
No! The government should not be propping up low wage earners, employers should be made to pay decent wages. We shp ujld not be paying wellfare to business.