Risking together: how finance is dominating everyday life in Australia, by Dick Bryan and Mike Rafferty

Hardin, Carolyn

doi:10.1080/17530350.2019.1570963

Cited by 1 publication

(2 citation statements)

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“…For Australians who face the challenges of everyday life, compulsory superannuation is a welfare policy without a premium on the individual volition and competence needed for making sophisticated financial decisions. Nonetheless, there are dissenting voices that link this policy with the risks of financialisation and neoliberalism (Bryan & Rafferty, 2018). 25 Compulsory superannuation also added a new institutional category to the Australian financial landscape, thereby bypassing savings banks and other established financial organisations with little to offer small account holders.…”

Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

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An economic and financial geography of the Australian superannuation industry

Clark

O’Neill

2023

Geographical Research

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The Australian superannuation industry has grown enormously over the past 30 years. Whereas working people are automatically enrolled at their workplaces, the head offices of many industry funds are in Melbourne rather than Sydney. Melbourne’s dominance of the superannuation industry is explained, in part, by happenstance—the location of major unions and employer groups and their initiatives in response to the enabling legislation. Other factors identified include opportunism, cooperation, and the advantages of growth. Government‐prompted mergers and acquisitions have also reinforced the dominance of Melbourne, notwithstanding attempts by Sydney‐based superannuation funds to out‐compete their Melbourne rivals. Whereas the geographical bifurcation of the Australian superannuation industry has been mediated by the formation of a Queensland‐based superfund “champion,” it is suggested that it faces numerous challenges. In conclusion, avenues for future research are sketched, focusing upon the future of Melbourne as the centre of the superannuation industry, the role of digital platforms in service delivery, pension adequacy, and the increasing importance of Australian funds in global financial markets.

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Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%