As a taxpayer from birth I would see it as my absolute right to receive some monetary recognition when I retire if only because I have helped support a plethora of mendicants who have never contributed anything in their entire lives. It is a huge all of Govt problem, made more so by incompetent Govt who should of years ago set up a future fund to have addressed this problem, ffs what is the point of having a census every 5 years if not to for see this massive problem we have now. My part Solution, bank deposits by retirees should receive 3% over and above the reserve bank interest rate, so on todays market they would get 6%, it is ludicrous that someone with $1million would only get $30,000 in interest on todays rate, the banks can afford it with their credit card rates at 18% or thereabouts, these monies invested would have to be there for a fixed period, would take an enormous strain off the system, any further thoughts ?
