The chances are that the average Australian investor is also horribly exposed to local stocks through the seemingly unshakably good national superannuation
A vibrant retail corporate bond market will put competitive pressure on bank lending rates to business and allow us to harness our national superannuation
savings so we can domestically fund more productive investment in our economy and reduce our reliance on offshore wholesale funding markets.
In 1973, the Labor Government under Prime Minister Gough Whitlam set up a Committee of Inquiry into the possibility of a national superannuation
scheme as a 'free-of-means-test' retirement benefit scheme (Kewley 1973: 434; Borowski & Olsberg 2007: 193).
The reason he gives is that Australia is not encumbered with a national superannuation
scheme of the pay-as-you-go, defined-benefits variety, in contrast to the bulk of countries in the OECD.
The Federal Government's plan to introduce legislation later this year to lift national superannuation
to 12% and cut taxes on super contributions will be two important steps towards giving women greater financial security in retirement.