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Greens circulate amendments to Protecting Your Super Package Bill

Greens Treasury spokesperson, Senator Peter Whish-Wilson, has circulated amendments to the Protecting Your Super Package Bill that is listed for debate in the Senate today, and that makes changes to the provision of group insurance through default super.

 

Senator Whish-Wilson said, "The Greens’ amendments retain group insurance as opt-out for default super.

 

"While there are many problems with the way life insurance is provided through super, the underlying principle of default super, including low-cost group insurance, is good public policy.

 

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Productivity Commission report shows need for super shakeup

Greens Treasury spokesperson, Senator Peter Whish-Wilson, says the Productivity Commission Report into the superannuation industry proves once and for all what the Greens have been saying for years – the super system is rigged in the interests of wealthy trustees and fund managers and needs a major overhaul.

 

"The super system has been operating for years in the best interests of the wealthy trustees and fund managers overseeing it and not in the interests of everyday Australians. Banks simply are not fit to be super trustees," Whish-Wilson said.

 

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Greens disappointed with Super reforms cave-in

Greens spokesperson for Treasury, Senator Peter Whish-Wilson, says the Government has missed an opportunity to pursue substantial reform and raise significant revenue from its proposed superannuation package.

“Today the Government caved in on the substantial reforms needed to address the perversities in the superannuation system that allow the wealthy to use their superannuation as a tax haven. 

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