"A giant allocated annuity fund with billions of dollars in it – effectively a super fund in pension phase – is one tax payer. One taxpayer out of the million taxpayers affected by Bill Shorten’s changes.
But that allocated annuity fund might have thousands of people invested in it - people who are lower and middle income earners, who rely on that fund for their retirement income. And Shorten’s move has the potential to reduce their returns.
Which is why the unintended consequence of Bill Shorten’s plan will hit many, many more people with lower returns than he will ever give a hint about in his speech today."
