Vaccination program becoming even more confusing, page-146

  1. 25,098 Posts.
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    The gig jobs were always a crock from day one it was BS.
    The industry funds are increasing their fees ,they are regulated differently to the retail ,IMO most of the retail funds are dogs, the reason industry funds are doing ok is because more money is going in than coming out because the have only been going since the mid nineties,when the time comes that 50% will be drawing pensions then the performance will fold,the industry funds do not segregate their funds and this is an important difference to the retail funds,my fund has our kids as members but it has to be segregated.
    The directors fees are money for jam and union directors draw fees and that goes to the union and then flows to the Labor party.
    IMO we should have never gone down this path even though I have done extremely well out of the system,we should have a universal pension set at a percentage of average weekly earnings,the tax forgone by the federal government now is equal to the amount payed out on pensions around $30 billion,with the increase to 12% will be less tax for the government,then fees last year was $39 billion all this to support a system that is grossly in favor of high income earners,when super was devised house prices were around 3 to 4 time average earnings ,now houses are around 10 time average earning, I think super contributions should be capped at 10% and that should earn enough over 40 years for a good retirement .at the moment most people will retire and pay out their home loans and be left with SFA and then be on the pension,with the present system there is a guaranteed amount we must put in but you never know what you will get out when you do retire at least when you buy a house its yours to live in.Imo I think the present system will eventually turn in to a giant ponzi scheme.
 
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