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Superannuation a “lottery”

A draft report into Australia’s $2.6 trillion Superannuation system shows Australian’s are losing $2.6 billion a year in Superannuation fees.

Finance expert, Ross Greenwood says a key finding in the productivity report, “is really the fact that they call it a lottery.”
“They say when they start work depending on who you start work with will depend on how good or bad your superannuation fund is because it’s often your employer who picks your super fund,” he says.

Steve and Baz questioned what education around Superannuation is given to people entering the workforce.
“This is all about the government now trying to again make people more accountable for their superannuation but also really take some pressure off the system later in people’s lives,” Greenwood told 6PR Breakfast.

 

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Gareth Parker
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