Quote:
Originally Posted by AndrewJ
Gday Morton
The current "semi privatised" system means each "individual" is subject to the vagaries of the state of the market ( and their particular fund ).
If we believe the guff that over the long term, things average out, then we need something that holds the funds of all people, and will pay out an "average" amount, probably based on amount input over time, irrespective of the short term fluctuations.
The govt "forces" us to invest in super, and many people have no real idea of what then happens in the background, so why should one person who has paid say 200,000 into a super fund that is badly managed lose 100,00 or more due to a short term blip in the markets, with no hope of recovering over time????
Thats what the old govt pension scheme was supposed to do, but somehow, all the money got spent on other stuff first.
Andrew
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I'm in
capital guaranteed with Aussie Super so
the above can't happen - theoretically.