How Keating's super plan missed its target

Super funds invest hundreds of billions of dollars in Australian firms, make a handsome profit, and then return dividends to fund owners. So how can a third of retirees be living below the '60 per cent poverty line'?

There is a paradox at the heart of the superannuation guarantee set up by the Keating government in 1991. On the one hand, it has unquestionably made Australia richer overall. On the other, it is failing many Labor supporters it was intended to help.

That’s a problem for former-PM Keating’s legacy, because many of those let down by the scheme are the very people to whom it was promised as part of the ‘social wage’ trade-offs between 1983 and 1991.

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