How Australia's superannuation system steals from the poor to give to the rich
Outgoing Westpac chief executive Brian Hartzer will receive more taxpayer support for his retirement than the men and women who clean his former bank’s branches. Far more.
While executives with multimillion-dollar pay packets often receive tens of thousands of dollars a year from other taxpayers, low-income earners such as cleaners, childcare workers and part-time teachers literally receive nothing. In fact, it’s possible for a low-income earner to work their whole life and receive no boost from fellow taxpayers to their personal super account.
