Sponsor a disadvantaged millionaire, page-6

  1. 7,467 Posts.
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    Robert is a public servant in Canberra since graduating in 1985
    He does very little actual work all day in Canberra .
    However he attends many important meeetings and has many days away at woke and diversity training sessions.
    He finds it hard to define his role in useful or understood terms but it involves checking carefully a lot of forms.
    He has been steadily promoted because he flies a green flag on his desk and has the correct opinions (good solid chap !)
    His mates convinced the government that a defined benefit scheme for super was good for the public service and country and Robert has taken advantage of this scheme which now has estimated unfunded liabilities of over $500 billion.
    He will retire this year aged 55 having reached a salary through above diligence of $300,000 ( not big by Canberra mandarin standards) and his defined benefit scheme indexed pays 70% of his final salary i.e. $210,000 as a pension each year come rain or shine on the share market.
    Theoretically to support Robert`s "well earned" super at average 6% earnings per year the taxpayer needs a pool of $3,360.000 indexed per year.
    Robert has contributed over the years roughly $500,000.

    POOR Robert!
 
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