Tinkering in Super by politicians should be banned.
The system as compulsory super designed for the average working man/woman has only been in operation for 23 years. No one it was designed for has actually ever retired as yet we are all coming up to finally get the benefit.
People retiring now that weren't in the public service or some high paying white collar job haven't had a full working life to make the most from it and now after these people followed the rules dutifully put extra into super on the promise that it's all 100/ tax free once you retire post 60 are now to be told oh maybe now will tax you.
Who cares if they $1m or $5m or $20m they followed the rules they could have chosen other investment options but didn't and have had that money locked away invested for 23 plus years in the hope the big pay day would come at 60 tax free.
Go to Hell Canberra it's our money we played the game we squirrelled it away as you asked us too.
It was the great promise it's Tax Free the more you salary sacrifice the more you will have Tax free.
I gave up that holiday house dream & trips to Europe.
I risked it all on a potential lie!
I saved it all to do those trips & beachside living when I retire in my self funded retirement.
I joined a gym kept myself fit & healthy so I can enjoy life post 60 being active to travel & volunteer work.
I played the game I have been a PAYE wage earner non Govt worker my whole working life now 7 years from 60 they want to change the rules bullshit I say!
Who cares how much I have put away I Use NAB Super Lever to sensibly gear my SMSF as the rules allowed yes I have more than the experts say you require but that will allow a comfortable retirement self funded & I can help my family, friends & contribute to worthy causes & donate my time to things like meals on wheels etc.
What is wrong with that!
I was 30 years old when it started at 3/ now it's at 9.5/ I missed out on app 10-12 years of possible income but have still managed to save it by following the rules in the belief I would be able to retire at 60 tax free as a self fund retiree.
Tax it be damned.
These are the same people on guaranteed life time pensions with free travel etc paid for from our taxes & now after 23 years the biggest lie of the Australian govt will be oh that super your been saving away dutifully for the last 23 years thinking it was going to be tax free in 7 years time well no were a bit short of cash seemed to have stuffed up the numbers old chap so will take some of those $$$ as well.
Get Stuffed I say it's mine I worked for it I sacrificed and took risk to build this nest egg.
I balanced my budget every year saved some for the retirement paid my bills kept my health put kids through private school paid the mortgage if only the Govt could manage to do the same thing but when you see $900 checks getting sent out from Kevin Rudd to your stay at home wife and two teenage part time working kids you realize they haven't got a clue.
My wife & kids didn't need that $900 Kevin I put it into out family SMSF maybe the Govt should have done the same thing.
No one over 50 coming up to retirement that has done the right thing will be voting for a tax on our super $$$ post 60 or a limit on how much we can have.
You want to change the rules then you need to give people some notice & up until now I had 23 years of notice it was Tax free.
