Wednesday, July 4, 2012

Contributions through compulsion: 'The Market' in Australia

Admittedly, not all superannuation contributions made by workers in Australia are involuntary but the vast majority would be.  There's been loss of wealth on the Australian stock market since 2010 by the way:

"...Super fund investments accounted for nearly 30 per cent of total market capitalisation of the ASX in the 2009-10 financial year. Super funds are the largest contributor to managed funds. As at the June quarter 2011, super funds accounted for around 70 per cent of all consolidated assets in managed funds..."  *

Speech to the Financial Services Council Breakfast, Sydney
Australian Prime Minister, Julia Gillard
WED 31 AUGUST 2011

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