Too much of superannuation has become a tax dodge that massively favours the rich

‘Like negative gearing is a tax dodge disguised as a housing policy, too much of superannuation is a tax dodge disguised as a retirement income policy.’ Photograph: Constantine Johnny/Getty Images

For conservative politicians, it’s never too early to start drinking from the hyperbole cup (the hyperbowl, if you will) over the issue of retirement incomes. We saw it this week as the Albanese government announced a review into superannuation.

The government wants to legislate the objective of superannuation. If you thought the objective of superannuation was clear, you might be surprised to learn that there actually isn’t one.