Released on Wed 4 Apr 2018: https://youtu.be/UUk_giZ4KnA<br />--------------------------------------------------------------------------------------------------<br /><br />Subscribe Our Channel For Newest Videos !<br />--------------------------------------------------------------------------------------------------<br /><br />Super Risk: The millions of Australians missing out on superannuation.<br /><br />"I think it's a huge problem, and I think we're not dealing with it now...it's going to come back and bite us." Workplace expert<br /><br />Australia's superannuation retirement savings pool is enormous. At two and a half trillion dollars, it's one of the largest in the world. But there are fears that even that huge sum of money won't be enough.<br />"What future are many young people facing? Bleak. They are facing Game of Thrones. Winter is coming." Investment banker<br /><br />Millennials are entering a very different workforce from the one that existed 30 years ago when compulsory superannuation was adopted.<br /><br />"It was pre-internet, mobile phones were the size of a brick, there wasn't big data. So many young people are now working in the gig economy." Financial services industry executive<br /><br />The rise of the gig economy, with work fuelled by apps that summon drivers, deliveries and all kinds of freelance workers, has seen more than a million workers operate in a netherworld where they are not paid traditional entitlements like superannuation.<br /><br />"I look at the next 20, 25 years when a whole generation will not have sufficient funds put aside." Uber driver<br /><br />In the broader economy, it's estimated that between three and six billion dollars' worth of super entitlements per year are not being paid.<br /><br />In some cases workers are being blatantly ripped off by employers who have failed to pay their superannuation entitlements.<br /><br />"Millions of workers are falling between the cracks of the superannuation system in this country." Super fund trustee<br /><br />Despite changes to strengthen the law, there are still sharp practices in the industry which are dudding consumers.<br /><br />"How can I not feel outraged that somebody in my industry is doing something as appalling as that?" Investment banker<br /><br />Now there are calls to take a fresh look at super and make some major reforms to avert financial disaster for the next generation of Australian workers.<br /><br />"If the object is that workers in this country or citizens as I think it needs to become can retire with some dignity, then we have to look at the entire architecture of it." Super fund trustee
