new super rules, page-11

"I think better times will return and as a community we will be able to afford the things that need to be done, including providing a reasonable retirement for people when they get older."

Ubi, but I don't see your retirement as something I am responsible for. Talk to anyone under 30 (with a job): we aren't interested in paying for you folks. Not that such an attitude should bother you, because you sound like a self-funded retiree, which I find admirable.

People - especially older people - are going to have to get reacquainted with the concept of living within their means.

Have you checked out the ABS population distribution? It's old and ageing fast. The personal income tax take is only going to go down unless we fill up the country with skilled migrants.

This is a serious problem not just for Australia, but for every industrialised country. Worst case is Japan.

"My generation has had a better life in material terms than our parents, and I suspect the same will apply to our children and grand children."

I agree. Living standards compound about 2% pa thanks to capitalism. It's great.

Unfortunately, if you're not working and you have few savings, you're relying on someone else to pay for you. My parents will probably have to work part time forever. They are in the low income earner 'soon to be retired' category. Five-digit superannuation is not a pretty thing.