Retirement, page-9

It is true that current tax payers are funding the lives of many retirees. To argue that current retirees worked all their lives and paid tax, misses the point. People are living longer and the retirement age was too low for too long. People can work until retirement age and then live (almost) the same number of years again in retirement. If you are worried you could do what many other semi-retired males do - become odd job men, lawn mowers and garden weeders, all on word-of-mouth recommendations.

Costello was the Treasurer who made it too good for pensioners - far too good. Now, it is not easily reversed. Pensions in annuity phase do not incur income tax, ex-teachers/telstra etc on defined benefit pensions no longer are taxed on these, people can shovel their funds into superannuation for many years on generous conditions in order to later draw down, tax-free pensions. Also, many concessions which are not available for those who work and pay their taxes. In their 'spare time' these workers can attend the museum, catch public transport etc and pay full price for everything with money already fully taxed, while joining the queues of concession-ticket holding pensioners. I don't get it really. And I'm a self-funded retiree who has elected to keep funds out of superannuation and so pay taxes each year. I don't believe I have ever had it so good.