Political tribalism is holding Australians back from taking control of their retirement nest eggs, according to economist Cameron Murray, who says superannuation has no noticeable benefit for retirees.
Murray, a research fellow at the Henry Halloran Trust at the University of Sydney, is calling for the government to take a close look at the necessity of compulsory superannuation (retirement) funds in the country, which he says is being propped up by the Labor Party because it is an integral part of its legacy.
“Having studied superannuation and housing for a decade, it seemed obvious that the super system was failing, and taking super out for other purposes might be good,” he told The Epoch Times. “Who’s to tell someone whether buying a house is better than sending their kids to daycare, or fixing their car, or paying rent?…