Comments by The Hon Bill Shorten MP

The Hon Bill Shorten MP in a Press Release dated 29 May 2013 made the following statements concerning the incumbent Prime Minister.

Mr Abbott has described superannuation as a ‘con-job’ and a ‘confidence trick’, and as recently as last year said:

“We have always as a Coalition been against compulsory superannuation increases.”

TONY ABBOTT

PRESS CONFERENCE

23 MARCH 2012

The Press Release can be found here.

Bill Shorten was referring to statements made by Tony Abbott back in 1995.

In September 1995, a young Tony Abbott rose in the House of Representatives.

Compulsory superannuation had been introduced just three years earlier, and debate was still raging about its value as a policy.

Political momentum was with the Howard opposition, of which Mr Abbott was an enthusiastic junior member.

It was six months before Australians went to the polls to kick the Keating government out of office.

Mr Abbott warned Australians, via Parliament, that compulsory super was a bad policy.

“Compulsory superannuation is one of the biggest con jobs ever foisted by government on the Australian people…” Mr Abbott said on September 25, 1995.

“The basic objective of compulsory superannuation is that the government is taking our money now so that it does not have to pay us a pension when we retire.”

The Hansard record is as follows:

“Compulsory superannuation is one of the biggest con jobs ever foisted by government on the Australian people. If the Prime Minister (Mr Keating) was a private businessman, chances are that he would be before the courts for false and misleading advertising.

“The basic objective of compulsory superannuation is that the government is taking our money now so that it does not have to pay us a pension when we retire. The government is making us worse off now so that it will be better off in the future.

“This is the fine print that the Prime Minister never tells you about—the fees, the charges and, above all, the taxes. I say to the voters of Australia, `Beware! There is no pot of gold at the end of the superannuation rainbow. Any money you put in is your money and you are certain to get back less than you put in’.”

More information on this statement can be found here.

Hansard for 26 March 2015 has Tim Watts stating:

The current Prime Minister, who has called our compulsory superannuation scheme ‘one of the biggest con jobs ever foisted by government on the Australian people’, is following in the footsteps of his self-proclaimed paternal figure, John Howard, who on its introduction called it a ‘job killer’.

From the experience of members of one of Australia’s oldest superannuation funds, the Prime Minister, the Hon Tony Abbott MP, is 100% correct. Superannuations is indeed a “con-job’ and a ‘confidence trick’.

Members of superannuation funds have ZERO protection of the law and superannuation funds are a ‘playground’ for white-collar criminals who know how to exploit Australia’s legal system with the assistance of corrupt Australian Public Servants.


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This tab updated on 30 March 2015