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COMPULSORY SUPERANNUATION MUST END - WE MUST STOP WEAPONISING OUR ENEMIES AND START EMPOWERING WORKING AUSTRALIANS Yesterday Pauline Hanson quite rightly said that people should be able to access their superannuation only to then clarify her remarks by saying she still supports compulsory superannuation. You can’t support both positions....

35,362 views • 15 days ago •via X (Twitter)

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“In 2023 alone, Australians paid more than $32 billion in fees to super funds, according to Rainmaker data. While regulatory guidelines exist for disclosure documents, there is no standardised way for super funds to present fees on websites, social media, or advertising materials. This inconsistency makes it difficult for consumers to compare funds and make informed choices.” •••••••••••• In light of today’s interest rate rise we need to ask which political party has the actual skill set to balance the books in this country. It’s People First and here’s why. The 6% interest you pay on your home loan is after tax. That is equivalent to around 8.5% pretax if you pay 30 cents in the dollar tax, and almost 12% pretax if you’re on the top bracket of 47%. Do you think the average superannuation funds pays that sort of return - no way. And don’t forget that superannuation fees cost another 1% of your balance. People First is going to let Australians keep their superannuation so they can pay their mortgage off faster. The current system only favours the financial industry which get to clip both your home loan and your superannuation. Australia doesn’t need any more financial engineers in this country - we need real engineers- civil, mechanical and electrical - which is why we are going to bring back the military apprenticeship scheme. Because at the end of the day you can build a financial system with paper promises, but you can’t build a better future for our children if they don’t own their own home.

Gerard Rennick

29,445 views • 7 months ago

Unsurprisingly Labor has rolled out the fear campaign around keeping your wages. Never tried to get between the Labor Party and their rivers of gold from superannuation. No one does fear like the Labor party so if you’re going to threaten their grifting you need to come prepared. One Nation have left themselves wide open to Labor’s fear campaign by not having a clear policy alternative to compulsory superannuation. Labor are claiming house prices will rise if people can access their super. Whilst this may be a possibly it doesn’t have to occur if the right guardrails are put in. The easiest way to solve this issue is by lifting the minimum deposit required to buy a house. By doing this home buyers will end up with greater equity rather than more debt. Currently people can buy a house with a 5% deposit, meaning you only need $50,000 to buy a million dollar house. If the minimum deposit was increased to 10% you would need $100,000 to buy the same house. The increased equity can come from superannuation rather than taking on more debt. Minimum deposits used to be a lot higher to stop people from over leveraging into housing. Unfortunately lending standards were relaxed which has resulted in many people being unable to pay off their mortgage by the time they are retired. This of course ensured the working class stay entrapped to never ending mortgage payments. People First intends to slowly increase the minimum deposit required for a loan once superannuation becomes voluntary to stop people from borrowing too much money. The upside to this is that by keeping all of your wage including superannuation you will be able to save for the deposit much quicker, ensuring you have greater equity in your home and less debt to tie you down over your working career. If you want a political party that understands monetary policy and can use that to empower you and your family financially then please sign up at today.

Gerard Rennick

16,137 views • 11 days ago

It’s time the people took back control of their money. Superannuation is centralised wealth controlled by a few boards who aren’t elected by the people. Nothing encapsulates just how dumb witted the neoliberals in the Liberal party are than superannuation. At the same time neoliberals like Howard and Hewson were sprucing free market ideology, the communists in the Labor party introduced Superannuation. A very clever way to get control of most Australians savings whilst enslaving them to even more debt. Rather than defend the right of people to control how they spend their money, when Howard and Costello took office in 1996 they actually increased the rate of superannuation rather than abolish it. By 2002 the rate of Superannuation had jumped to 9%. They did this because of pressure from the big banks who also saw the money that could be made by clipping the ticket on superannuation. CBA bought Colonial Mutual, NAB bought National Mutual, Westpac bought Bankers Trust and ANZ did a joint venture with ING. In short both parties sold out to the big end of town - big unions and big banks. Today 40% of people retire with a mortgage (up from 10% in 1992) yet the same percentage of retirees (50%) are still on a full pension. A trillion dollars of your superannuation is invested offshore. The only winners out of this are the paper shufflers in the big city ivory palaces who skim $30 billion a year out of superannuation in fees and use the $3 trillion of your capital to promote ideology not productivity. The losers are the people. #auspol

Gerard Rennick

66,879 views • 2 years ago

People are drowning in debt “Australia’s retirement system has been based on the presumption that the overwhelming majority of people would own their homes outright upon retirement. However, due to declining homeownership rates, Australians buying homes later, and carrying larger mortgages into retirement, that assumption is clearly crumbling. Westpac notes that people over the age of 40 accounted for around 20% of mortgage loans issued to first-home buyers in 2025. As a result of people purchasing later and taking out larger mortgages, Loan Market Group has found that 40% of respondents do not expect to have paid off their mortgages by the time they retire. This analysis aligns with warnings from the Super Members Council of Australia, which estimated that more than 40% of Australians will retire with mortgage debt, up from 16% two decades ago.” ••••••••••••••••••••••••• People First has been the only party talking about the fact that 40% of people who retiree haven’t paid off their mortgage. This figure is based from ABS numbers now five years old so the figures are probably worse. These people end up cashing out their super and going on the pension this wasting billions on Superannuation fees for nothing. No other party wants to tackle our financial system except People First. We will: • Reintroduce capital controls to stop house inflation • Bring back a public bank • Start an Infrastructure Bank • Bring back a Government Insurance Office • Allow young people to keep their superannuation so they can buy a house • Cut immigration It’s time to put the Australian People First.

Gerard Rennick

13,494 views • 4 months ago

This conversation has generated a fair bit of conversation so I think it’s worth elaborating on. There is a common misconception that superannuation is decreasing the number of retirees on the pension. As per ASFA figures attached in comments - the median balance for men and women aged 60-64 is $220k and $164k respectively. That is nowhere near enough to get off the full pension which starts to reduce when a home owning single person has assets of $321k. The pension cuts out entirely if a home owning single person has assets of $714k. In other words, well over half of people about to retire have barely half the level of assets needed to get off the full pension. This is worse than when Superannuation began in 1992 when 77% of retirees were receiving a pension. 50% were receiving a full pension and 27% were receiving a part pension. Furthermore as per the ABS figures attached in comments below, 40% of people now retiree with a mortgage up from 10% in 1992. These figures are over five years old so the figure is probably worse. That means that most people have to cash in their super when they retire to pay off their mortgage and then go onto the pension anyway. Then there is the whole return on investment scenario - if house prices are growing the same as or faster than superannuation returns, then yet again it becomes a false economy. In other words Superannuation is not achieving its stated aim. The Productivity Commission estimates the cost of running Superannuation is around 1% of funds under management or $40 billion per year. Australia doesn’t need more financial engineers in this country, we need real engineers building real assets not paper assets. Nor should we be investing superannuation money overseas in foreign infrastructure when our own country desperately needs more infrastructure investment.

Gerard Rennick

44,183 views • 5 months ago

Stop lying Albanese “The Australian Labor Party has formally enshrined support for Welcome to Country and Acknowledgement of Country ceremonies in its updated draft national platform." V "Foreign investors and superannuation funds will typically pay much lower capital gains tax on non-property assets in Australia than local individuals, as a result of the Albanese government’s budget changes which widen the tax gap between different investors. As Treasurer Jim Chalmers on Tuesday continued to defend the proposed changes to CGT, saying Labor was about “a fair go for first home buyers”, local investors said the government was offering a better deal to big super funds and investors living abroad compared with individuals at home." ••••••••••• This word salad from Albanese really goes to show why he is unfit to lead the country. After saying he has never focused on culture wars he then goes on a mind bending semantic word salad about entering countries and welcoming people to their own homes. In other words he contradicted his initial statement by engaging in culture wars. Albanese has always been a culture warrior for the simple reason he has no real solutions to fix the economic malaise the Australian economy is in. In fact he seems determined to punish hard working Australians by imposing higher taxes on them than foreigners and his mates in the Superannuation industry. As Prime Minister for Australia he should rise above the culture war rhetoric and instead unify the nation by focusing on what all Australians want - greater prosperity and a better life for their children. He should focus on lower taxes, less regulation and more efficient government spending. At People First we know that the best way to make people welcome in their own country is to through better economic management of the economy so they can own a home. Sign up today at if you agree.

Gerard Rennick

24,364 views • 1 month ago

“The Australian National University (ANU) is one of the nation’s key purveyors of immigration propaganda. Jill Sheppard, a senior lecturer at the ANU School of Politics and International Relations, let the mask slip on the latest ANU Democracy Sausage Episode when she argued that donations and lobbying from big business on immigration are a “good thing” because they sway politicians to keep immigration high against the wishes of Australian voters, who overwhelmingly want lower immigration. Essentially, what Sheppard has said is: “Screw what voters actually want. They don’t matter. Politicians should represent the lobbying interests of Big Business”. Sheppard has confirmed that the ANU is an open-borders migration cult that will say anything to keep the numbers flowing.” •••••••••••••••••••••• Another example of how the “elites” don’t respect the will of the people, this time in regard to immigration. Big business has formed an unholy alliance with universities and superannuation funds that avoids scrutiny by shareholders and the public. This is happening because none of these institutions hold democratic elections. My previous post touched on how the major parties use the taxpayer to fund them instead of being accountable to its members. Superannuation funds have grown so large they now control corporations, who along with governments, fund universities. Because superannuation boards don’t hold elections, people have no say in who runs superannuation funds or the companies they control. The same goes for University boards that are also selected, instead of elected by students. Because higher immigration means more customers and more profit, big business and universities support high immigration, despite the public being against it. Until such time as public funding for political parties is cancelled and compulsory superannuation is abolished, taxpayer money will continue to be weaponised against the people.

Gerard Rennick

28,391 views • 5 months ago