Regardless on where you stand on this kind of policy (I'm heavily against it), I can not believe they would consider introducing it without grandfathering the current retirees who have structured their retirement plans around it. It is flat out ridiculous.
Typical ALP policy though - they believe that all the money we and companies earn is theirs to take, and we should be grateful for what's left over after they've taxed the bajeesus out of it.
