Hmmm. What can be said.
warned the Retirement Income Review to keep its hands off the legislated increase in the superannuation guarantee to 12 per cent.
Keating should me more concerned about the superannuation contribution rate falling to NIL what with all of the unemployment from the current recession the Government chose to have.
For the unemployed, 12% or even 9% of nuffin is still nuffin. But hey. Keating won’t notice with his defined benefit pension and ex-Prime Minister office, both funded by tax payers.
But here is a cracker from PJK:
It is a breach of the preservation rules to just let anyone take out their money willy-nilly.
Right. Anyone who spends their money without prior government approval will be punish.
Some more perhaps:
Instead, support for citizens experiencing financial hardship should have been an entirely “fiscal” response financed by the public purse or central bank.
Hey Paul. Whose money is in the public purse?
But this one is the best:
Every dollar which came out of young peoples’ super balances could have been funded by one press of the computer button at the Reserve Bank.
Thanks Paul. As he would have said, all tip and no iceberg. But perhaps the iceberg has melted because of global warming. Sorry, climate change.