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One In Four Workers Missing Out On Their Super (Read 1025 times)

Gnads

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Re: One In Four Workers Missing Out On Their Super
Reply #15 - Aug 30^th, 2024 at 6:19pm

Carl D wrote on Aug 30^th, 2024 at 5:51pm:

There wouldn't have been any need for all of this superannuation BS if Australia still had a pension fund where a small part of everyone's wages went into the fund every week.

The UK has such a fund worth trillions of pounds and it's there to ensure everyone can access the age pension when they reach pension age.

And it's been set up in such a way that all of the money in the fund can only be used for pensions, nothing else.

The reason why Australia no longer has such a pension fund is because it wasn't set up with the same 'security' as the UK one and the pollies (I believe it was the Menzies government in the 1950's) found a way to get their grubby little hands on all the money and spent it on "other things".

They did have ... & it wasn't Menzies & his Govt who did this it was Peter Costello in the Howard Govt that put that nest egg(funding) into "internal revenue" to be spent on whatever.

Does the Futures Funds introduction in 2006 ring any bells?

The Rudd/Gillard/ Rudd govts did nothing to rectify that ... in fact Rudds solution was to put the retirement age up to 67 for any one born after 1957.

So both parties are as responsible for the situation as the other.

« Last Edit: Aug 30^th, 2024 at 6:27pm by Gnads »

"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais

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UnSubRocky Gold Member Offline Crocodile Hunter: Origins Posts: 24940 Rockhampton Gender:	Re: One In Four Workers Missing Out On Their Super Reply #16 - Aug 30^th, 2024 at 9:17pm Daves2017 wrote on Aug 29^th, 2024 at 10:58pm: Compulsory super is the worse thing ever to be created in this country. Paul Keating should go flush his head down a toilet! Unless you are over the age of 60, you should be happy with compulsory superannuation.
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Daves2017

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Re: One In Four Workers Missing Out On Their Super
Reply #17 - Sep 9^th, 2024 at 10:02pm

“Superannuation is wage theft. Workers should be able to keep their superannuation and use it according to their needs. Almost 70% of retirees still receive a pension. This figure has hardly declined in 30 years of compulsory superannuation. While the cost of the pension is $53 billion, superannuation tax concessions cost $50 billion and most of these concessions go to the highest 20% of income earners. “

“ Senator Gerard Rennick

Thomas A. Edison said as early as in 1931, “I’d put my money on the sun and solar energy. What a source of power! I hope we don’t have to wait until oil and coal run out before we tackle that.”

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