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Keating pushes to merge Centrelink with superannuation
Former prime minister Paul Keating – the architect of the nation’s sprawling $4.5 trillion superannuation sector – has told the government to integrate its public social security system with the private retirement savings sector, in what would be the single biggest shake-up of the aged pension in decades.
The radical proposal to merge parts of Centrelink into the big superannuation funds came as Aware Super chief executive Deanne Stewart told a meeting that a growing number of retired Australians were drawing down only minimal amounts from their nest eggs because they feared running out of money.
A previous version of this story cited Wayne Swan as saying there was merit in Paul Keating’s idea to merge Centrelink and super. This has been clarified to reflect that Swan only agreed that super funds needed to provide more guidance in retirement.
Keating pushes to merge Centrelink with super; Dimon says this is ‘as good as it gets’; Strategy turns $10,000 into $354,520
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In today’s news, Paul Keating pushes to merge Centrelink with superannuation, Jamie Dimon says this is “as good as it gets”, and a “sweet spot” super strategy makes $10,000 grow to $354,520.
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