Mature Australia Party proposes that the Australian Government set up and operate a National Superannuation Fund for all Australians, to offer gilt-edged security for all investors in the fund.
This would reverse the present trend of superannuation funds being controlled by private interests, or raided by governments.
At present, superannuation funds invest in speculative projects such as palatial shopping centres – and dodgy overseas banks, such as Lehman Brothers in the US, the collapse of which triggered the Global financial crisis of a few years ago.
For older (mature age) Australians in particular, it should be recognised that security is just as important (and often more so) as an extra point or two in interest rate returns.
Such differences bearing on security of an investment may mean little to high-powered big-money investors, but they mean a great deal to smaller, mature-age investors in such superannuation schemes, including wage and salary earners and retirees.
The operation of a publicly-owned and operated Fund would give the national government valuable access to badly-needed (and now scarce) funding for the development and growth of national community services and resource , such as dams and other water resource schemes to meet the needs of rural and city communities ,schools, hospitals , roads, and other vital infrastructure projects.
Many economists and other analysts consider it a major policy error for governments to hand over the retirement savings of Australians to greedy super fund operators and financial advisors, whose
primary interest is purely based on feeding their own profit margins.
It is considered that the operation of a Government/publicly-controlled national Superannuation Fund ( as envisaged ) would take sudden variations out of the equation, for investors, every time the
Reserve Bank of Australia makes a decision on official interest rates.