This was always the end game for this scheme imo. Right back when Keating first brought it in there was a plan.
Get people to put their own money into a long term scheme and when it got big enough, the government would swoop in and take it all.
Best you can hope for is they give you a fair valuation for your portfolio and commute that into a lifetime pension based on that value.
It will be paid to you and your partner if you have one, but once both dead, it will cancel out and not form part of your estate.
The greatest theft of assets ever carried out in the history of this country is coming soon imo.
The young ones entering the workforce now will never know any different it will be like the Singaporean scheme. Cradle to grave with almost total control over their lives.
Sad to see what is coming but this is what happens when there are too many hands out and not enough lending a hand.
