http://www.thepunch.com.au/tags/superannuation/ Politics, political opinion, world news, sports news and the latest news and views updated live, daily on The Punch - Australia's best conversation. en Copyright 2012 The Punch penberthyd@newsltd.com.au penberthyd@newsltd.com.au Sat, 26 May 2012 20:00:40 +0000 Sat, 26 May 2012 20:00:40 +0000 Politics, opinion, world news, sports news, latest news, views, Barack Obama, Kevin Rudd, Julia Gillard, Nathan Rees, Malcolm Turnbull, Peter Garrett, Barnaby Joyce, Australian, federal politics, opinion polls, election, The Punch, thepunch, punch ExpressionEngine 1.6.7 http://blogs.law.harvard.edu/tech/rss 15 http://www.thepunch.com.au/images/punch-logo-rss.png http://www.thepunch.com.au/ 144 70 Politics, political opinion, world news, sports news and the latest news and views updated live, daily on The Punch - Australia's best conversation. Search The Punch keywords http://www.thepunch.com.au/search/ http://www.thepunch.com.au/articles/Deep-down-were-all-unionists-even-the-haters/ Bill Kelty made a memorable speech last week. Addressing the ACTU Congress Dinner in Sydney, the legendary ACTU Secretary who helped shape the Accord in the 1980s and 1990s, explained why he became a unionist. “It was the underdog you always sided with in our family,” he told a hushed audience that included former Prime Ministers Bob Hawke and Paul Keating. “The Aboriginal on death row, the Gurindji people, women not getting equal pay. It was Australia of whom you were proud, but not the Australia who sang God Save the Queen. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/Deep-down-were-all-unionists-even-the-haters/#comments http://www.thepunch.com.au/articles/Deep-down-were-all-unionists-even-the-haters/#item8556 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/some-super-stuff-actually-happens-in-parliament/ I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/some-super-stuff-actually-happens-in-parliament/#comments http://www.thepunch.com.au/articles/some-super-stuff-actually-happens-in-parliament/#item8087 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/youd-think-the-mining-tax-was-all-about-billionaires/ The massive sums and the wealthy characters in the bitter debate over the mining profits tax have swamped discussion of a plan to help the lowest paid Australians. This measure would address the painful worry of hundreds of thousands of working women that they will not be able to save money for retirement. It is a move designed to avoid the unhappy destiny of many unskilled women - there are just over two million in the workforce - who at the end of their working lives face a struggle to survive. It has bipartisan support to the extent that if the Government proceeds with it the Coalition, should it win government, would not wind it back. But it is rarely mentioned because the debate is anchored in the fate of billions of dollars, not in the futures of millions of the low paid. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/youd-think-the-mining-tax-was-all-about-billionaires/#comments http://www.thepunch.com.au/articles/youd-think-the-mining-tax-was-all-about-billionaires/#item8057 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/military-superannuation-pensions-need-protection/ The Deputy Prime Minister, Wayne Swan, spoke at the National Press Club, Canberra, on Monday – the topic, The Rising Influence of Vested Interests in Australia. In a supporting essay Mr Swan wrote: “We’ve always prided ourselves on being a nation that’s more equal than most – a place where, if you work hard, you can create a better life for yourself and your family.”  Members and retirees of the Australian Defence Force champion this principle. The trouble is the veterans have had with successive governments is that they’ve not been fair regarding the indexation of their superannuation. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/military-superannuation-pensions-need-protection/#comments http://www.thepunch.com.au/articles/military-superannuation-pensions-need-protection/#item7961 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/War-is-hell-and-military-life-is-no-picnic/ The reader response to The Punch article, 12 January 2012, “Why have we abandoned our troops?” highlighted a deep misunderstanding of the central tenet of the article, and, more worryingly, a flawed knowledge of the actual conditions of service applicable in the Australian Defence Force (ADF). Some of the more ill-informed myths about what entitlements our military men and women received were: • Tax free salaries – No (but there are some concessions when deployed to war zones). penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/War-is-hell-and-military-life-is-no-picnic/#comments http://www.thepunch.com.au/articles/War-is-hell-and-military-life-is-no-picnic/#item7624 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/punch-qa-whats-happening-to-our-markets/ Global financial markets are going completely bananas. Again.  Financial experts worldwide are calling on leaders for some direct action to bring certainty to the struggling Greek and southern European economies. So what does all this mean for us? Australian treasurer Wayne Swan has described it as a dangerous new phase, while other economists have urged the RBA to take immediate action to avoid being caught up in the recessionary sweep. Eager to find out what all that actually means, The Punch asked Saul Eslake, senior economist at the Grattan Institute to give us the low down. 1. How much could the current crisis affect Australia? How worried should we be? The current ‘crisis’ reflects (first) the increasing likelihood (as markets see it) that Greece will default on its debts, resulting in losses that may render some banks who hold large amounts of Greek government debt insolvent, and that in the aftermath of a Greek default other countries (Portugal, perhaps Spain or even Italy, the latter two being much larger than Greece) will be more likely to default; and (second) the increasing likelihood that Europe and/or the US may slip into a second recession, in which case governments and central banks would have very little capacity to respond in the normal way (by cutting interest rates or doing fiscal stimulus). penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/punch-qa-whats-happening-to-our-markets/#comments http://www.thepunch.com.au/articles/punch-qa-whats-happening-to-our-markets/#item6796 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/we-might-save-more-in-super-if-we-knew-where-it-went/ Not since Paul Keating introduced compulsory superannuation contributions in the early 1990s has there been such an important opportunity to change the way Australians think about saving for their retirement. This urgent need for change is magnified when Australians are asked how much they actually know about their superannuation. A recent survey by Suncorp Life found 49 per cent of us don’t understand our super, and 30 per cent of us don’t believe our super is even our own money. Annual changes to the superannuation system are also a constant and frustrating occurrence. That’s why it’s vital for the Government to get it right this time. The results of the much-anticipated Cooper Review announced last week urge a range of sweeping reforms to superannuation, and herald an exciting new era for the industry. The question is whether the Government is prepared to do what’s needed to simplify the system, and restore Australian’s confidence in superannuation. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/we-might-save-more-in-super-if-we-knew-where-it-went/#comments http://www.thepunch.com.au/articles/we-might-save-more-in-super-if-we-knew-where-it-went/#item3545 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/super-scams-flush-billions-from-retirement-savings/ Forty billion dollars gone; four million Australians out of pocket; fees charged for services that are never delivered. It’s the biggest scam you’ve never heard of, and there’s a very real chance you’re a victim. Indeed, according to the results of a groundbreaking research project last month, a series of questionable practices in Australia’s superannuation industry are gouging close to $80,000 from the retirement savings of many average income earners. Most worryingly, the same report warned that without immediate, decisive action to fix these serious problems $120 billion more could be siphoned off in the next decade alone. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/super-scams-flush-billions-from-retirement-savings/#comments http://www.thepunch.com.au/articles/super-scams-flush-billions-from-retirement-savings/#item2933 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/labor-should-finish-job-keating-started-on-super/ In 1992 Paul Keating’s leadership motivated me to join the Labor Party. Keating provided the labour movement with the leadership, vision and fighting spirit needed to combat the regressive Fightback package. Keating won the election, and Labor celebrated a great win against neo- liberalism. What followed was a period of government where Keating’s great intellect and vision was pitted against his arrogance, exhaustion and electoral indifference. This was a difficult and frustrating period for many Labor supporters and I remember periods of despair at our performance. After 1996 the whole labour movement shied away from defending Keating, his Government and his politics due to the collective scars caused by his defeat. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/labor-should-finish-job-keating-started-on-super/#comments http://www.thepunch.com.au/articles/labor-should-finish-job-keating-started-on-super/#item2176 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage. http://www.thepunch.com.au/articles/juggling-family-life-how-leave-doesnt-add-up/ What the hell was that? As a parent with a child in school for the first time I have just withstood a round of what I suspect will become the regular school holiday juggle. After taking one week’s leave the battle-plans were laid out: a day with said child in the office, play dates lined up, grandparents locked in – and then she gets sick meaning the fragile house of cards came tumbling down. It’s a simple rule of math really, schoolkids have around 12 weeks of holidays each year while their parents average four - that’s a lot of time when households are juggling care. penberthyd@newsltd.com.au (David Penberthy) Article http://www.thepunch.com.au/articles/juggling-family-life-how-leave-doesnt-add-up/#comments http://www.thepunch.com.au/articles/juggling-family-life-how-leave-doesnt-add-up/#item1520 Sat, 26 May 2012 20:00:40 +0000 I sometimes think there are two kinds of politics in Australia. The stuff that gets reported, and the stuff that actually affects people’s lives. The 24-hour news cycle has created constant demand for new content, no matter how trivial. Much of the demand has been fuelled by punditry, pontificating and poll-analysis, rather than actual news. While the political journos are obsessed with the state of Craig Thomson’s stomach, Peter Costello’s Future Fund dummy spit, and Wayne Swan’s Three Stooges jokes, you could be forgiven for thinking that is all Parliament ever does. Conflict, not matter how confected, is the fuel that drives media coverage.