Hi Yogi,
A lot of the problems you highlight are a function of the interactions between the pension means test, super and taxation.
The odd structure of the franking credits exacerbates the problems, and does make it sensible to make sure you have a part pension, at least, if at all possible.
I would take issue with the 794k figure, not that it doesn't represent a 3% return equivalent to the pension, but we really should be using a figure which represents that lump sum, which produces such a pension , and produces nil residual after average life-expectancy.
But , apart from that, and the fact that a reasonable percentage of our piles contains money that wouldn't be there without tax concessions, you are right, people in the middle are pissed, and today's 50 year old will plan his or hers future accordingly.
I am worried that they will have damaged super's credibility with those younger as well.
So, clumsy.
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