Abbott’s broken promise on Super will cost workers billions in lost earnings
The Abbott Government’s dirty deal with the Palmer United Party to slash the retirement savings of millions of Australians is another broken promise that this time will cost our members and the Australian workforce billions in lost earnings.
Abbott pledged that his Government would not introduce any changes to superannuation that would adversely affect workers retirement savings.
Under Labor, the Superannuation Guarantee was to be lifted from the 9% it had been stuck on for years to 12% by 2020 through a series of 0.25% annual increases. To date, it had risen to 9.5% and will remain frozen there until at least 2017.
Treasurer Hockey says it will save the Government more than $10 billion. That’s $10 billion on his figures that will be stolen from workers retirement accounts.
Continue reading this article, first published in Common Cause
Join IndustriALL Global Union in using social media to boost the global campaign day ‘STOP Precarious Work’ on 7 October.
Through the message-boosting tool Thunderclap, together we will take a stand against precarious work.
Korea-Australia Free Trade Agreement will force local workers to compete against badly exploited Koreans
The Construction Forestry Mining and Energy Union has slammed a trade deal with South Korea which could allow imports from the North Korean dictatorship.
CFMEU National Secretary Michael O'Connor said the free trade agreement would also see the removal of labour market testing requirements for employers taking on Korean nationals.
"If Parliament votes up the Bill to implement this deal, which is likely to happen tonight, it will be putting local workers in direct competition with badly exploited Korean workers," Mr O'Connor said.