Reported at www.theguardian.com: Australia’s superannuation system disproportionately benefits the wealthiest, granting over $20 billion in tax breaks to the top 10%, while nearly 25% of retirees live in poverty due to low age pension levels.

The government’s proposed tax increase on superannuation earnings above $3 million aims to address these disparities but faces significant opposition fueled by misleading fear campaigns.

See also: Australia Institute backs ‘much needed’ $3m super tax