ABSTRACT
The early approach to superannuation provision by Australian employers was largely established in terms of welfarism—that is, of employers feeling a duty to provide for their employees after they had served the government or a private business for much of their working lives. The early funds were usually established legally, either through separate Acts of Parliament, statutory rules or trust deeds, and provided pensions calculated on the basis of length of service and salary at retirement. Welfarism was an approach to retirement savings akin to charity. Good employers offered their most valued staff access to superannuation as a benefit for remaining loyal. Good employers offered their most valued staff access to superannuation as a benefit for remaining loyal.
