In a way, I can understand your thinking simply because we can never be certain what gov'ts might do to, or change with our super. You might be correct with your figure of $500K and to a 26 year old, that can be a very daunting sum.
In my opinion, what will very likely change over time, will be the eligibility for the gov't aged pension. I do not refer to current "means testing" - for those that have plenty to survive. I am of the view that those that have been employed over many years and squandered their super, or perhaps redundancy money etc, with the deliberate aim to get a gov't pension might be in for a rude awakening.
We don't need to even think Libs or Labs in gov't (althought the latter under Keating introduced compulsory super) but in my opinion, those that do not make adequate plans for retirement NOW, are very likely to regret it in the future for many varying reasons. It is in either govt's best interests to see all Australians make adequate forward thinking plans for retirement and not for them to be a burden on gov't coffers.
I don't want to go into great detail, but I for one never, ever, thought (not in my wildest dreams) I could attain my current SMSF worth and all without any handouts.
I for one, am not in the slightest bit worried about what may or may not happen as a result of gov't changes. If I had let that bother me in the years past, I would be yet another lining up for the aged pension when my time comes, but then, I might be told "the computer says no"
Cheers and you should think seriously at topping up whenever you can. BEFORE YOU KNOW IT, you will have reached retirement age.
