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Q: It is reported 75% of Australians over the age of 65 receive the full or part pension from the Government.
Compulsory superannuation was introduced into Australia in 1992 (26 years ago) for employees to have a percentage (now 9.5%) of their income invested into a superannuation fund to help fund their retirement years. The desired outcome was for people to be self-funded retirees as opposed to being reliant on government pensions.
The superannuation industry is a $2.6 trillion dollar industry with something like $26B of fees paid annually.
If after 26 years, 75% of Aussies over 65% are still reliant on the government it begs the following questions
1. Is the current superannuation policy working?
2. Who is really benefiting from the compulsory superannuation regulations?
3. Should superannuation be compulsory or voluntary?
We’d love to get your thoughts and opinions.
A: It is my opinion that it must and should remain voluntary because many folks receive bad investment advice and without the pension they would be homeless and begging for food. Indeed, there would be a lot more homeless without the pension to fall back on. Superannuation only works for a small percentage of people, usually the ones who are already in a certain income bracket. I feel the revisions to the taxation system along with the succession of governments have produced an Australia which is no longer egalitarian as it was in the nineteen eightees. Many (not all) of the revisions favour the private sector or those in upper income brackets but do not pay out wisely or fairly to the poor. Some of the supernannuation giants like the pyramid scheme have collapsed and investors have lost confidence. I feel personally that superannuation is a 'risky business' only for the bold or very well informed.
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Q: Dear John,
I wish to put in a second towel rail because I'm disabled with neck arthritis. My landlord is unresponsive. I am straining my neck to reach down to the low rail and wish to put one above it more suitable for my height. Would i be in breach of my contract if i have one put in? Can they evict me even if its identical to the one below and adds value to the property? Thank you for your reply :-)
A: Thank you very much John!
I did not think to include in my emails the reassurance that I would plug the holes myself, although I did offer to pay for everything myself and state that it would include the property value. I am a good tenant and have solid references and have paid 5 weeks in advance but still they give me a hard time.
If i have another question, would it be okay to ask?
I do appreciate your time and so quick too!
Kind Regards,
Petrice
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Q: Dear John,
I wish to put in a second towel rail because I'm disabled with neck arthritis. My landlord is unresponsive. I am straining my neck to reach down to the low rail and wish to put one above it more suitable for my height. Would i be in breach of my contract if i have one put in? Can they evict me even if its identical to the one below and adds value to the property? Thank you for your reply :-)
