Finance & Fury Podcast

Welcome to Finance and Fury, The Furious Friday Edition Today, the episode is delving a little deeper into superannuation I Work as a financial adviser – see a lot of changes to the legislation of superannuation since I joined the industry in 2011 – Today - Episode on my theory of superannuation from a viewpoint you might not see anywhere else History of Super – From 1970s - superannuation arrangements were in place were set up under industrial awards negotiated by the union movement – nothing like currently – they were union/company run 1983 - A change to superannuation arrangements came - through an agreement between the government and the trade unions Called “Prices and Incomes Accord” - the trade unions agreed that their members (workers) forgo a 3% pay increase to instead direct into the new superannuation system – important point of forgoing salary increase – come back to later This 3% was also matched by employers' contributions the employees' income – Though there is general widespread support for c