I saw one analysis that said that it would be cheaper to pay everyone a full pension than keep the current level of super concessions.
Personally, I think the super system, by enforcing compulsory saving, has been one of the big drivers of the success of the Australian economy over the last 10 years. However, I also think it is too generous to high wealth individuals, following Howard's last set of reforms. Whilst I agree there needs to be incentives to save via superannuation, the ability to put in $50,000 pre tax and $150,000 after tax each year adds up to $12,000,000 over a 60 year life time.
Will be interesting to see how they go - hope it does not hurt you too much. I lost my job last year and rolled over all that I could to super, keeping the rest as given how long it is taking to find a decent job, I will need it!!!
