Access EAP data shows a 15 per cent increase in people taking stress leave.
John Wasiliev
Trustees of self-managed superannuation funds (SMSFs) are furious at the proposed changes to super in the Federal Budget. They feel they've made serious efforts and sacrificed lifestyle to self-fund their retirement and are especially disappointed at those changes with a retrospective element.
"I am livid. We have been encouraged by government to save for retirement in an attempt to be independent. Now we are at risk of being dudded for trying to be responsible," says SMSF trustee Diane*.
Trustees Tom* and Cathy* are particularly angry about the $1.6 million cap on how much can be used to start a pension, proposed from July 1, 2017. Earnings tax of 15 per cent being slapped on to transition to retirement (TTR) pensions is another sore point.
"The retrospectivity in relation to the imposition of a $1.6 million cap in pension mode and the removal of the tax-free provisions of those currently in transition to retirement has put paid to the vision that Australians could invest in superannuation without the threat of the state expropriating retirement savings under the guise of fairness," they say.
