Where is the futures fund? The better question should be what is...

Where is the futures fund? The better question should be what is the futures fund. It is/was a fund set up purely to fund public servant's (a misnomer if ever there was one)retirement payments. I assume that includes polliticians. It is supposed to make investments on their behalf. Am I right or am I wrong?

Of course the government of the day set up a similar fund the year I started working and paying tax, 1947. The tax was an extra deduction to go into a fund for the purpose of paying EVERYONE a pension on reaching retirement age. In later years another government transferred the fun into consolidated revenue, saying pensions would be paid from consolidated revenue. Later on yet another government brought in the means test.

Now we have the situation where the means test cut out a pension, the bankers have destroyed the assets that are supposed to support us in retirement and some are forced to sell OZL for <60c when they are probably worth >$1 rather than wait 3 months for 82c.

So don't look for help from the futures fund. They are looking after their own. Unless of course they can be convinced they are getting a super bargain.

Enough old age rambling