I don't pretend to fully understand the super changes of recent years but from what I have read they really only significantly benefit the top two or three percent of superannuants and are of little worth to the rest.
Whilst superannuation is a good idea in principal as nobody knows what the future holds it may not solve the problems as expected. For instance if there is a severe economic downturn then a persons super fund may decline in value or even be lost. It is also impossible for most wage earners to make contributions at a level that would support them comfortably over a long retirement and as we saw in another post the average super payout today is around $200,000 which would not last for long.
Therefore the government pension will be necessary to support nearly all our aged for the foreseeable future. Despite the comments of some that the government will not be able to afford it I am sure they will because they will have no choice. Any government which interfered with our aged pension would be ousted at the next election because nearly all the baby boomers will be receiving a part or full pension and would form a huge voting block.
