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UnionsNSW WHS Briefing 2013

UnionsNSW WHS Briefing 2013. November 2013. Important information.

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UnionsNSW WHS Briefing 2013

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  1. UnionsNSW WHSBriefing 2013 November 2013

  2. Important information This material is of a general nature and does not take into account your personal objectives, situation or needs. Before making a decision about AustralianSuper, consider your financial requirements and read our Product Disclosure Statement, available at www.australiansuper.com or by calling 1300 300 273. Investment returns are not guaranteed as all investments carry some risk.Past performance gives no indication of future returns. AustralianSuper Pty Ltd ABN 94 006 457 987 AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898

  3. Why are we talking about Superannuation? Unions stand for a better life - at work and after work Unions fought for and created Industry Super so workers could have a better life in retirement Growth of super 1980 1985 1992 2010 < 40% withsuper ACTU agreement41% with super Most industry fundsset up (to hold 3%) SG legislation 90% with super superannuation is largest asset after family home

  4. Coalition government policies on super • SG increase delay • Repeal of low income earners super concession • FOFA wind back • Default funds in Awards • Governance • Financial System Inquiry

  5. Coalition commits to super scheduleSally Patten, Financial Review, November 14 • Remove default retirement products from the industrial awards system. • " [We will be] looking at issues like the default funds and who can provide a default fund, and again we want maximum competition and transparency in that process rather than a process where they are selected by the Fair Work Commission or some other entity," (Arthur Sinodinos)

  6. Keeping super strong for members

  7. Default funds in Modern Awards • Over the eight years to 2011, default funds in modern Awards have averaged an after-tax return of 6.4 per cent, compared with 5.5 per cent for non-default funds. • Industry funds will campaign to keep super funds in Awards.

  8. Working with unions

  9. We can help you with • Research • Enterprise bargaining • Independent comparisons – fees, insurance, performance • Calculators for members • Communications for members • Support on super issues • Education

  10. In summary • Unions played a key role in securing superannuation for workers • Industry funds can be a great choice • Unions have an important role to play

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