Super & Pension Reform

Superannuation, once heralded as helping Australians retire comfortably, has turned into an elaborate scam used by the big banks and foreign interests to financialise Australia’s economy and fuel land speculation, the primary systemic driver of Australia’s housing crisis.

The Eureka Party supports the abolition of mandatory superannuation, with account holders given the choice to continue using private or self-managed funds, have future contributions paid to them directly as part of their wage, or direct future contributions to a National Age Pension Fund operated by the Sovereign Development Bank, to be invested into domestic reindustrialisation efforts instead of foreign investment and parasitic bank speculation.

Existing superannuation accounts will be left alone, with account holders given the choice to leave their funds in the account, withdraw funds to cover expenses, or redirect all or part of their funds to the National Age Pension Fund.

The Eureka Party supports the raising of the Age Pension to the level of a living wage, the abolition of means testing, and the reduction of the retirement age to 65.