What is needed is a plan for as many workers as possible to reach a point of self funded retiree by retirement age.
If this isnt created , then just the top few will be self funded and the vast majority will still be collecting 30k per year of Pension for 25 years Plus inflation.
Every time the government boosts one person or couple to the self funded level it saves the government a million bucks in pension.
So it is better for the economy for more people to reach that self funded retiree level by mid 60s, rather than just the top 1% with all the money and the other 99% on Pensions bleeding the economy dry.
Once the self funded level is reached the Tax breaks should stop. There should be more done to get a higher % of the population to the self funded level. Every self funded person saves the Government a million bucks in pension so the more the merrier.
Tax breaks shouldnt be helping people get to 20 million bucks, the tax breaks should stop once 2 million is attained.
The tax breaks should be directed towards getting more people to the self funded level, or else they will cost a million in Pensions.
