chappy the average retiree has little idea as to how to ensure they have solid and stable income through their own efforts. sure you are much more likely to manage your super accumulation better than any annuity, but most people would either deposit in an interest-bearing account and draw cash as needed or invest without understanding the full gamut of risks and so may end up with little to live on.
annuities are a safer means of ensuring that income stream.
whatever happens with taxation remains to be seen..... all you have at this point is speculation that they'll "tax the crap out of what is left".
