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This is the down side side with Superfunds working hand in glove with a political party IMO and does highlight why your super, isn't thought of as your money.In the Superannuation a Government cash cow thread we have always said that when those drawing down, exceed the contributions being put in and the super funds have to generate their own earnings, the ponzi will implode.Well it looks like that time is fast approaching, all the members with all the accrued earnings may well ask for them, I think the funds would find that somewhat embarrassing and as I said in the other thread we may well end up back at the RBL's and minimum/maximum drawdowns.Things are certainly moving along, I wonder how long before this morphs into, the super has to be spent before someone qualifies for any pension.History repeating, we were the same as the U.K, NZ and Canada where a part of income tax was set aside for pensions, then it was decided to pay pensions out of consolidated revenue, then means testing, then superannuation was started and the income tax associated was removed and a new income tax started, then asset and income testing, next ? I certainly hope they throw the family home into the mix, or everyone will be removing their super to upgrade the home, which will put more upward pressure on house prices. [ATTACH=full]161372[/ATTACH]
This is the down side side with Superfunds working hand in glove with a political party IMO and does highlight why your super, isn't thought of as your money.
In the Superannuation a Government cash cow thread we have always said that when those drawing down, exceed the contributions being put in and the super funds have to generate their own earnings, the ponzi will implode.
Well it looks like that time is fast approaching, all the members with all the accrued earnings may well ask for them, I think the funds would find that somewhat embarrassing and as I said in the other thread we may well end up back at the RBL's and minimum/maximum drawdowns.
Things are certainly moving along, I wonder how long before this morphs into, the super has to be spent before someone qualifies for any pension.
History repeating, we were the same as the U.K, NZ and Canada where a part of income tax was set aside for pensions, then it was decided to pay pensions out of consolidated revenue, then means testing, then superannuation was started and the income tax associated was removed and a new income tax started, then asset and income testing, next ?
I certainly hope they throw the family home into the mix, or everyone will be removing their super to upgrade the home, which will put more upward pressure on house prices.
[ATTACH=full]161372[/ATTACH]
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