RIDOUT: Politicians Should Keep Their Hands Off Super

Heather Ridout has come out swinging.

Just hours after being appointed the head of Australia’s biggest superannuation fund, she said that changes to the system undermined confidence in it and that politicians should just leave it alone.

Senior government figures have repeatedly refused to rule out changes to the superannuation tax structure, particularly the tax concessions for high income earners which, if removed, could save billions from the federal budget bottom line.

The Coalition has warned that it may not be able to wind back any changes.

Ridout told the AFR:

“Confidence in the system has been greatly damaged by tinkering but also by the global financial crisis.

“It is not a good time to be fiddling around with super.

“I would strongly urge both sides of politics to let the system mature and grow.”

Mathew Dunckley and Gretchen Friemann have more here.

Ridout, who was a formidable advocate as chief executive of the Australian Industry Group, was picked to succeed Elana Rubin as the chair of AustralianSuper, will be leading the fund as potential superannuation changes look set to become a high-profile political issue over the coming months.

NOW READ: Unstoppable Ridout To Chair Australia’s Biggest Super Fund

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