"...are held in my Superannuation and with this new High Balance Cap they are talking about..."
The way they are talking about it, it will be a long term death for superannuation (is already designed to be that for the pension conversion portion) since they will almost certainly index the $3 million to CPI (as was done for Medicare). I know the last few years wage increases have fallen below CPI but that is not the long term norm.
Everyone has seen how medicare has fallen from a decent proportion of medical costs to now being a small proportion. When medicare was introduced by Whitlam (good idea, no disputing that) I remember saying to my wife "it has been designed to fail in the long term" and it is on the verge of that (if not already there). The blame lies with Treasury who don't understand the long term effect of compounding.
Similarly, the CPI indexation written into super will cause it to fail long term. It will have significant effect for the under 50's.
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