obviously small change to them , just a small scratch to the performance bonuses , but how much did the super-members lose
All risk on
Super funds drain cash piles to go all-in on frothy markets
Australia’s multitrillion-dollar pension pool is the most bullish it’s been on stocks in over 10 years, leaving little room for error should markets go south.www.afr.com
worth having a plan dusted off , just in case it is , in my opinion
www.zerohedge.com
Trust me, i am your governmentFrom my memory and understanding, I think this is how the pension and super system generally came about.
Someone can correct my if I'm wrong, but everything seems to be going full circle.
*The pension scheme was funded by a levy on income tax in the early 1900's.
*Then the funds were absorbed into consolidated revenue in the name of simplifying it and pensions paid from that, in around the 1950's.
*Then a pension scheme funded by a levy on individuals earnings in 1980's, called the superannuation guarantee, was started.
*Now the ever faithful Gratton Institute is putting forward an idea, let's put super it into the Government's hands and they can pay a pension from that.
Could mandatory annuities solve our retirement woes?
A new report has suggested that a little-known and oft misunderstood financial product might be the magic formula we need.www.smh.com.au
The Grattan Institute has dropped a report this week that’s got everyone talking. It tackles a familiar issue: Australians are nervous about spending their retirement savings.
Most retirees live off the income their super generates, leaving the capital untouched to pass on as a legacy. The problem? Many are living far below the standard they could comfortably afford, simply because they’re too cautious to dip into their savings. And the real purpose of superannuation – to fund our retirements is being neglected.
The report also points out what we’ve all been saying for years: the superannuation system is far too complex, and there’s virtually no support to help people figure out how to navigate retirement once they stop working.
The proposed solution? The Grattan Institute suggests the government step in and start offering lifetime annuities – products that already exist that are designed to provide retirees with a secure, steady income stream for life.
It even floated the idea of making these annuities mandatory, so everyone has some peace of mind in retirement and no one has to worry about running out of money.
From my memory and understanding, I think this is how the pension and super system generally came about.
Someone can correct my if I'm wrong, but everything seems to be going full circle.
*The pension scheme was funded by a levy on income tax in the early 1900's.
*Then the funds were absorbed into consolidated revenue in the name of simplifying it and pensions paid from that, in around the 1950's.
*Then a pension scheme funded by a levy on individuals earnings in 1980's, called the superannuation guarantee, was started.
*Now the ever faithful Gratton Institute is putting forward an idea, let's put super it into the Government's hands and they can pay a pension from that.
Could mandatory annuities solve our retirement woes?
A new report has suggested that a little-known and oft misunderstood financial product might be the magic formula we need.
The Grattan Institute has dropped a report this week that’s got everyone talking. It tackles a familiar issue: Australians are nervous about spending their retirement savings.
Most retirees live off the income their super generates, leaving the capital untouched to pass on as a legacy. The problem? Many are living far below the standard they could comfortably afford, simply because they’re too cautious to dip into their savings. And the real purpose of superannuation – to fund our retirements is being neglected.
The report also points out what we’ve all been saying for years: the superannuation system is far too complex, and there’s virtually no support to help people figure out how to navigate retirement once they stop working.
The proposed solution? The Grattan Institute suggests the government step in and start offering lifetime annuities – products that already exist that are designed to provide retirees with a secure, steady income stream for life.
It even floated the idea of making these annuities mandatory, so everyone has some peace of mind in retirement and no one has to worry about running out of money.
years ago there was some level they could be trusted. now days youd trust the local crack deeler in the zripy track pants & bum bag standing on the corner over 99% of goverment
Wow rextbook experts, don't you love them. Well, no,From my memory and understanding, I think this is how the pension and super system generally came about.
Someone can correct my if I'm wrong, but everything seems to be going full circle.
*The pension scheme was funded by a levy on income tax in the early 1900's.
*Then the funds were absorbed into consolidated revenue in the name of simplifying it and pensions paid from that, in around the 1950's.
*Then a pension scheme funded by a levy on individuals earnings in 1980's, called the superannuation guarantee, was started.
*Now the ever faithful Gratton Institute is putting forward an idea, let's put super it into the Government's hands and they can pay a pension from that.
Could mandatory annuities solve our retirement woes?
A new report has suggested that a little-known and oft misunderstood financial product might be the magic formula we need.
The Grattan Institute has dropped a report this week that’s got everyone talking. It tackles a familiar issue: Australians are nervous about spending their retirement savings.
Most retirees live off the income their super generates, leaving the capital untouched to pass on as a legacy. The problem? Many are living far below the standard they could comfortably afford, simply because they’re too cautious to dip into their savings. And the real purpose of superannuation – to fund our retirements is being neglected.
The report also points out what we’ve all been saying for years: the superannuation system is far too complex, and there’s virtually no support to help people figure out how to navigate retirement once they stop working.
The proposed solution? The Grattan Institute suggests the government step in and start offering lifetime annuities – products that already exist that are designed to provide retirees with a secure, steady income stream for life.
It even floated the idea of making these annuities mandatory, so everyone has some peace of mind in retirement and no one has to worry about running out of money.
Again from memory talking to people over the years, from my understanding the U.K, Canada, Australia and NZ all had a similar welfare/pension system.
grattan.edu.au
Extraordinary unfair indeed and a tax on the savers and a prime to incompetence and irresponsibility.
now i READ this somewhere ( a couple of decades back ) and it could be incorrect
sources change in the new digital age , especially from official agencies
constitutionwatch.com.au
Good point.
ouch
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