Normal
Some aren't. Never feel sorry for anybody who is on a defined benefit pension which is indexed to the CPI. I know a few of them but I'm not one of them having my funds rolled over to the SMSF.Quick way to calculate their notional worth. Divide the annual pension by the RBA cash rate. That's how much you'd need in the bank earning that interest rate to receive the equivalent amount. Even a "modest" $25k pa equates to approximately $7m. Thank God, I'm now out of the industry dealing with some of the blighters.
Some aren't. Never feel sorry for anybody who is on a defined benefit pension which is indexed to the CPI. I know a few of them but I'm not one of them having my funds rolled over to the SMSF.
Quick way to calculate their notional worth. Divide the annual pension by the RBA cash rate. That's how much you'd need in the bank earning that interest rate to receive the equivalent amount. Even a "modest" $25k pa equates to approximately $7m. Thank God, I'm now out of the industry dealing with some of the blighters.
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