Industry Super Australia will embark on a mass-media campaign to protect members’ financial interest and warn them the government is poised to abandon or undermine the boost in the super guarantee to 12 percent – which could blow a six-figure hole in an average couples’ retirement savings.
Despite making an election commitment to not interfere with the legislated super guarantee increase the government is now considering cutting it or making other adverse changes.
These changes could push retirees into having to sell or mortgage their home to get by.
The government’s proposed changes to super would leave millions of workers worse off at retirement and over their lifetime, force them to pay more tax and would add more than $33 billion to the aged pension. Cutting the rate would also put women further behind as more women than men get the super increase.
The mass-media campaign, launching tonight during the Seven network’s AFL broadcast, involves real people talking about how they would have to work longer, retire with less or sell their home if the government messes with super. The campaign will run nationally across free-to-air and on demand TV, online, radio and outdoor.