30 years ago my wife done uni degree for free, state schools were for free.
My son Uni degree he still paying HEX $ 50,000. State schools cost average $ 1,000, but we all contributing to overseas holidays or new SUV of 50% of new retirees, who after the purchase go straight to age pension.
It is not 25 years , even after 50 years 40% of people shouldn't be in the super and probably got direct age pension without the burden of trustees and advisers. Just simple pay tax as they go. 1997:
80 per cent on the Age Pension or equivalent, 67 per cent of those on the full Age Pension
2017:
70 per cent on the Age Pension, 60 per cent of those on the full Age Pension
2055:
60 per cent on the Age Pension, only 40 per cent of those on the full Age Pension
Source: https://www.superannuation.asn.au/ArticleDocuments/359/1711_Mythbusters.pdf.aspx?Embed=Y
