Stronger Promotion Of Workplace Super Needed
The Council of Trade Unions calls for stronger promotion of workplace super schemes.
Sunday, November 11th 2001, 10:12PM
Council of Trade Unions President Ross Wilson says that greater promotion of workplace superannuation would assist employers in recruitment and retention of employees."The CTU has worked actively with the superannuation industry to promote changes in prospectus requirements to reduce red tape," he said.
"The government has supported this change and wording to put the change in place is drafted in the proposed Business Law Reform Bill."
Ross Wilson said the government was also considering changes in the tax treatment of superannuation contributions.
"However it is important that employers re-examine the value of superannuation as a workplace benefit to address recruitment and retention issues," he said.
"The CTU believes that security of income in retirement is achieved partly through direct Government provision, and partly through employer and industry-based superannuation schemes."
Ross Wilson said it was disappointing to see that workplace superannuation had fallen even further to cover only 15% of the workforce.
"Now is the time to get to work on lifting the level of workplace superannuation so that many more workers are covered."
This is a press release from the Council of Trade Unions.
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