A bill, which overturns the superannuation rebate along with the mining tax and other spending measures including the School Kids Bonus and the Regional Development Fund - passed the House of Representatives last night and has now moved to the Senate.
ACTU president Ged Kearney said workers will be negatively affected if this Bill passes the Senate. “These workers, the majority of who are women, cannot afford a cut to their superannuation savings.”
“Just the superannuation aspect of this Bill alone will hurt 3.6 million workers who are set to lose $1 billion each year,” she said.
“The majority of these low income earners – 2.1 million – are women who collectively will be $500 million worse off in 2013-14 alone,” she said.
“Every other week a new report is released confirming that women are getting paid less, losing opportunities and retiring in poverty.”
“It’s the Government’s role to try and fix this issue not to shrink the retirement savings of workers who already will not have enough.”
“There is no doubt that this push will exacerbate what is already an unacceptable situation where women retire on just 64 per cent of a man’s retirement savings.”
“This is another example of a policy that is against the interests of workers. The Government is making no secret that they will protect big business at the expense of workers.”
Ms Kearney said there were large pockets of the workforce who should be deeply concerned about the repeal of the superannuation rebate.
“Unions are very worried about the outcomes for workers under a Government who doesn’t think twice about cutting retirement savings for low paid workers and women who have spent their lives juggling work and caring for others.”
Following is a list of occupations that will lose most from the scrapping of the superannuation rebate.