An open letter to Bill Shorten. Dear Bill, First of all I am a swinging voter. In the news it would seem that you are commuted to superannuation. If this is the case may I ask why it was when the ALP was in government default life insurance came into practise ? This default life insurance applies regardless of the member's circumstances. I for instance never have had any dependents . This makes life insurance a complete waste of money. If I had any need for life insurance I would already have it. Common sense and decency would dictate that someone who has no dependents would have no need for life insurance. There is also nothing to stop a new employer setting up a new account with a different fund even if the work is of the same narure the employee is usually engages in, complete wthe with more life insurance. The business plan is clear enough, to minimize the capital value. Over the last ten years I have had some employers who simply did not pay any superannuation at all. I would like to see the following changes made to superannuation. 1. No insurance of any kind to be deducted from superannuation accounts. 2. No new superannuation accounts to be set up for an employee if they already have a superannuation account. The name of the fund and and member number would be registered with the ATO. If a new account is set up and later discovered , all money paid in would be transferred over to the original super fund with compound interest and no deductions allowed. 3. At the end of each financial year superannuation funds would have to issue a statement of contributions received.This statement would be included with the tax return and should equal 9% of gross earnings before deductions.Any employer showing discrepancies would be called to account. I look forward to your reply, alex
