--- title: Superannuation, retirement and politics – time to get back to basics description: Superannuation, retirement and politics – time to get back to basics image: https://www.bluechipcommunication.com.au/hs-fs/file-3403284959-jpg/blog-files/bigstock-basic-math-education-for-kids-13065755.jpg --- [![Bluechip_Logo](https://cdn2.hubspot.net/hubfs/325503/Bluechip%20Assets/Images/Bluechip_Logo.svg "Bluechip_Logo")](https://www.bluechipcommunication.com.au/) ![Search-9](https://www.bluechipcommunication.com.au/hubfs/BlueChip%20website/Bluechip%20Assets/Images/Search-9.svg "Search-9") ![Close Icon (3)-1](https://www.bluechipcommunication.com.au/hubfs/Bluechip%20Assets/Images/Close%20Icon%20(3)-1.svg "Close Icon (3)-1") This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. ** ![Close Icon (3)](https://cdn2.hubspot.net/hubfs/325503/Bluechip%20Assets/Images/Close%20Icon%20(3).svg "Close Icon (3)") ##### Knowledge Shared # Insights ##### All Articles ![](https://www.bluechipcommunication.com.au/hubfs/BlueChip%20website/Bluechip%20Assets/Images/down-filled-triangular-arrow.png) - [Financial Services (168)](https://www.bluechipcommunication.com.au/blog/topic/financial-services) - [Public Relations (133)](https://www.bluechipcommunication.com.au/blog/topic/public-relations) - [Marketing (111)](https://www.bluechipcommunication.com.au/blog/topic/marketing) - [Social Media (101)](https://www.bluechipcommunication.com.au/blog/topic/social-media) - [Integrated Marketing (87)](https://www.bluechipcommunication.com.au/blog/topic/integrated-marketing) - [Reputation Management (79)](https://www.bluechipcommunication.com.au/blog/topic/reputation-management) - [Crisis Management (61)](https://www.bluechipcommunication.com.au/blog/topic/crisis-management) - [Growth (46)](https://www.bluechipcommunication.com.au/blog/topic/growth) - [Profile (41)](https://www.bluechipcommunication.com.au/blog/topic/profile) - [COVID-19 (40)](https://www.bluechipcommunication.com.au/blog/topic/covid-19) - [Protect (14)](https://www.bluechipcommunication.com.au/blog/topic/protect) - [BC Team (9)](https://www.bluechipcommunication.com.au/blog/topic/bc-team) - [Blog (7)](https://www.bluechipcommunication.com.au/blog/topic/blog) - [Leadership communication (6)](https://www.bluechipcommunication.com.au/blog/topic/leadership-communication) - [Cyber Security (3)](https://www.bluechipcommunication.com.au/blog/topic/cyber-security) - [Client In The News (2)](https://www.bluechipcommunication.com.au/blog/topic/client-in-the-news) [Client In The News](https://www.bluechipcommunication.com.au/blog/topic/client-in-the-news) ### [Melos Sulicich shares SME success tips on Money News’ “Let’s Talk Business”](https://www.bluechipcommunication.com.au/blog/melos-sulicich-shares-sme-success-tips-on-money-news-lets-talk-business) Melos Sulicich, CEO of Bank of Sydney was interviewed by 2GB’s Money News "Let's Talk Business" segment with Scott Haywood. He shared tips for family-run businesses to make sure ev... [Client In The News](https://www.bluechipcommunication.com.au/blog/topic/client-in-the-news) ### [Target hostile countries, not us, drug giant CSL tells Trump](https://www.bluechipcommunication.com.au/blog/target-hostile-countries-not-us-drug-giant-csl-tells-trump) This is an extract from an article written by Michael Smith and Jessica Gardner in The Australian Financial Review. Published on the 10th July 2025. “It is weighing on the share pr... - ##### [Financial Services](https://www.bluechipcommunication.com.au/blog/topic/financial-services) ## [Superannuation, retirement and politics – time to get back to basics](https://www.bluechipcommunication.com.au/blog/superannuation-retirement-and-politics-time-to-get-back-to-basics/) ###### By Nicola Michel ###### 21 May 2013 [Social Media](https://www.bluechipcommunication.com.au/blog/topic/social-media) [Financial Services](https://www.bluechipcommunication.com.au/blog/topic/financial-services) [Growth](https://www.bluechipcommunication.com.au/blog/topic/growth) ##### [Reaching High Net Worth Individuals Through Social Media Marketing in 2025](https://www.bluechipcommunication.com.au/blog/how-target-high-net-worth-individuals-social-media) [Public Relations](https://www.bluechipcommunication.com.au/blog/topic/public-relations) [Reputation Management](https://www.bluechipcommunication.com.au/blog/topic/reputation-management) [Crisis Management](https://www.bluechipcommunication.com.au/blog/topic/crisis-management) ##### [The Science of Crisis Communication: Proactive and Reactive Strategies](https://www.bluechipcommunication.com.au/blog/proactive-and-reactive-crisis-communication-strategies) [Profile](https://www.bluechipcommunication.com.au/blog/topic/profile) ##### [Affluence. Effluence. Influence. Do you know the difference?](https://www.bluechipcommunication.com.au/blog/affluence-effluence-influence-do-you-know-the-difference/) [Public Relations](https://www.bluechipcommunication.com.au/blog/topic/public-relations) [Reputation Management](https://www.bluechipcommunication.com.au/blog/topic/reputation-management) [Crisis Management](https://www.bluechipcommunication.com.au/blog/topic/crisis-management) ##### [Introduction to Crisis Communication](https://www.bluechipcommunication.com.au/blog/introduction-to-crisis-communication) # Insights. [Back to all articles](https://www.bluechipcommunication.com.au/blog) - Share - [![](https://www.bluechipcommunication.com.au/hubfs/Bluechip%20Assets/Images/facebook.svg) ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.bluechipcommunication.com.au%2Fblog%2Fsuperannuation-retirement-and-politics-time-to-get-back-to-basics%2F) - [![](https://www.bluechipcommunication.com.au/hubfs/Bluechip%20Assets/Images/linked%20in.svg) ](http://www.linkedin.com/shareArticle?mini=true&url=https://www.bluechipcommunication.com.au/blog/superannuation-retirement-and-politics-time-to-get-back-to-basics/) - [![](https://www.bluechipcommunication.com.au/hubfs/Bluechip%20Assets/Images/twitter-1.svg) ](https://www.twitter.com/share?url=https%3A%2F%2Fwww.bluechipcommunication.com.au%2Fblog%2Fsuperannuation-retirement-and-politics-time-to-get-back-to-basics%2F) [![Basic Math Education For Kids](https://www.bluechipcommunication.com.au/hs-fs/file-3403284959-jpg/blog-files/bigstock-basic-math-education-for-kids-13065755.jpg?width=740&height=496&name=bigstock-basic-math-education-for-kids-13065755.jpg)](https://www.bluechipcommunication.com.au/hs-fs/file-3403284959-jpg/blog-files/bigstock-basic-math-education-for-kids-13065755.jpg) ***The looming issue of adequacy in retirement funding continues to unite and divide commentators, politicians and the superannuation industry. Financial services organisations seeking to boost engagement, educate members and ensure Australians’ long term financial security continue to fight what is, at times, an uphill battle.*** A [statement](http://www.hsbc.com.au/1/2/about/news/13/130221) released by global bank HSBC last week revealed that a study of 15,000 people, including 1,000 in Australia, confirmed what most of us already know. Far too many of us are seriously financially underprepared for our retirement. At the same time, in the Coalition’s [Budget reply](http://www.liberal.org.au/latest-news/2013/05/16/budget-reply-2013-taking-pressure-households) speech last week, Leader of the Opposition, Tony Abbott, declared a ‘budget emergency’ and announced that, if the Coalition wins government in September, to make the savings necessary to retain the tax breaks linked to the carbon tax after the tax itself is axed, a Coalition Government would defer the increase in the Superannuation Guarantee for two years. Not surprisingly, the response was swift and divided. The [Finance Sector Union](http://www.fsunion.org.au/News-Views/Media-release-Abbott-super-delay.aspx) described the delay as an attack on the retirement savings of all Australian workers. The industry body for SMSF professionals, [SPAA](http://www.spaa.asn.au/library/spaa-media-releases/spaa-urges-coalition-not-to-defer-sg-increase.aspx?categoryid=1371#.UZqt_aI3B2A), said it could see no reason for the delay, and that because many employers would have funded the increase from employees’ salaries, the cost to business was not necessarily onerous. Consulting firm [Deloitte](http://www.deloitte.com/view/en_AU/au/news-research/media-releases/c1bcfc3cf31be310VgnVCM1000003256f70aRCRD.htm) agreed, saying that the delay was “understandable, but disappointing, not in the best interests of Australians and that the sooner the guarantee gets to 12% the better it will be for Australians, businesses and the country”. On the other hand, the [Australian Chamber of Commerce and Industry](http://www.acci.asn.au/Research-and-Publications/Media-Centre/Media-Releases-and-Transcripts/Economics-Industry/Small-Business-Not-Ignored) backed the measures as showing a “welcome sensitivity to the plight of small business”, particularly when they are combined with the proposed abolition of the carbon tax and root-and-branch review of competition policy. Enter the [Industry Super Network](http://www.industrysupernetwork.com/super-delay-plus-removal-of-low-income-earners-concession-could-reduce-super-savings-by-55-billion), which said that deferring the increase will result in short-term budget savings of $1 billion per annum over the next seven years, which the Coalition may see as necessary to deal with the “budget emergency”. Labor has accused Mr Abbott of going back on his word by making “unexpected changes to super”, something he had stated the Coalition would not do. Minister for Financial Services and Superannuation, Bill Shorten, highlighted the negatives for women, who typically have less super than their male counterparts, and are more likely than men to be working part-time, particularly if they have young children at home. Superannuation industry body ASFA, took a slightly softer view – saying in a [media statement](http://www.superannuation.asn.au/media-release-17-may-2013) that while it has long been a supporter of an increase in the superannuation guarantee to help ensure adequate retirement savings, the super guarantee is only one tool in an arsenal which should be including aged care, healthcare and access to the Age Pension. Whether or not you agree with Labor or the Coalition about the superannuation guarantee, there are some immutables in the argument, uncomfortable realities that no amount politicking can conceal. First is the premise of the entire discussion: as our longevity increases, Australians are living longer and longer in retirement. Expecting the Age Pension to continue to bridge the shortfall between retirement savings and living requirements is not realistic: we either pay now, or pay later. But at some time we will pay. Thus, a concerted effort to increase the retirement savings of all Australians should be at the forefront of the agendas of Governments of all stripes. It is also universally agreed that encouraging Australians to take an active interest in their super would help increase retirement savings. It’s no secret that most of us don’t pay as much attention as we should, given the balances concerned – let alone have a full understanding of what reforms like [Stronger Super](http://strongersuper.treasury.gov.au/content/Content.aspx?doc=home.htm) mean in practice. The fact that the rules continue to change apace is a likely contributor to this. Who wants to commit to a rule that may change tomorrow – especially when your life savings are involved? Which brings us to another point of consensus: that we need more stability, more consistency and fewer changes if we are to boost trust and confidence in super – surely a vital first step to increasing engagement. So, what’s the answer? Perhaps a paring back to begin with the basics: the points of agreement, rather than difference. Because it’s clear that the current approach is leaving us more than a little short. 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