24th Jul 2018
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Research reveals Australians face 12.5-year super shortage
Author: Ben Hocking
Aussies face 12-year super shortage

New research from AMP has revealed a huge disconnect between how much Aussies believe they need for a happy retirement and what they actually need.

According to AMP’s ‘Super Shortage’ research, for Australians to live the retirement lifestyle they aspire to from 65, their savings will last just five years. With the average life expectancy of Australians being 82.5 years old, this creates a super shortage of 12.5 years. 

YourLifeChoices’ research shows that almost 80 per cent of retirees are worried that they will outlive their savings and members articulated those fears in the most recent Retirement Affordability Index.

AMP financial advisor, Dianne Charman, said the findings are worrying as they reveal a big gap between expectation and reality, with Australians currently saving much less than what they need to live out their expected lifestyle in retirement.

“Most of us want to retire early and we want to be comfortable,” Ms Charman explained. “However, with life expectancy continuing to rise, we are potentially leaving ourselves short of cash in our retirement years.

“The research suggests many Australians are facing the prospect of having to push out their retirement plans by at least 10 years.

“The reality is that today we need to make our earnings from 40 to 50 years in the workforce, extend across 80 to 90 years of living.”

Not surprisingly, the research found the super shortage for Australians who retire at 65 years old is greater for women (14 years) than men (12 years).

However, women clearly understand they might be left short when they hit retirement age, with 71 per cent saying they are worried about having enough money to retire, compared with only 50 per cent of men who expressed the same concern. 

Ms Charman said factors such as the fact that women tend to live longer than men and have time out of the workforce made it even more essential that they accumulate enough super to last through retirement.

The research also found that Australians in a relationship had a greater super shortage (14 years) than those who are single (11 years).

“It’s important to think about your retirement goals and whether your super contributions will fund the retirement you want early on in life,” Ms Charman explained.

“Planning early will go a long way towards bridging the super shortage between the retirement we want and the one facing us.”

Are you worried about outliving your retirement savings? What are you doing to address these concerns?

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    COMMENTS

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    patti
    25th Jul 2018
    11:05am
    I was not able to put away enough for retirement, due to many life factors beyond my control. The age pension is not huge, but I am able to manage mostly. If I wanted to go on cruises, live a lavish lifestyle and have all the latest gadgets, it would not be enough. We need to get back to basics, perhaps....nature is free, as is friendship and laughter
    KB
    29th Jul 2018
    10:53am
    patti life does throw curve balls at us particularly for women, You are right un saying that we need to get to basics, You can still enjoy life with the need to live modestly/ Enjoying nature and enjoying social times with family and friend are valuable ways of spending time
    TREBOR
    25th Jul 2018
    11:53am
    Inevitable when policies are pursued of reducing the overall incomes of the peasants, via part-time casual temporary and 'contracted employee' arrangements that militate that hourly rates are lower across the working week and thus any superannuation contribution is lower.

    Then there is the acid spectre of fees and charges eating away at small balances until they no longer exist, all designed as a way of shifting money from the poorest in the land, who were mandated a super contribution in exchange for a pay rise, into the pockets of the investors and fund managers.

    A tax by another name - and if you like - a continuation of social war by other means.... (phrase courtesy of the post-Jacobite Scottish Parliament, which complained that the imposition of laws against the Scots (no kilts etc) was a continuation of war by other means).....

    All the current 'policy thrusts' of 'privatisation', 'socialised superannuation', fat Joe's 'co-contribution to the doctor' and its aftermath, and so forth are essentially taxes on the lowest paid by other means than direct taxation...... simply because the government benefits via 'shareholding' in 'privatised' ventures, and forces people to pay into those regardless of whether or not they ever wanted to.

    Dear Gladys is proposing two more MOTORways (not freeways) for Sydney's North West - we all know what that means... the taxpayer forks out for it,then the taxpayer pays full to extreme tolls to use it... double whammy burger...

    (No this is what I mean - look at this picture... it's three inches thick, juicy and nutritious ... now look at this sorry thing.... flat, tasteless... and costly)...

    https://www.youtube.com/watch?v=XkwQ6EjLdMQ
    Old Geezer
    25th Jul 2018
    12:08pm
    Exactly that is why super may not be a good saving vehicle for retirement at all.
    HarrysOpinion
    25th Jul 2018
    12:20pm
    Agree OG, but you haven't offered an alternative. We all await your words of wisdom on the alternative/s, old boy.
    Rae
    25th Jul 2018
    12:45pm
    HS there was nothing at all wrong with the old system and the 7.5% levy into the Welfare Fund.

    People could afford to buy a modest house and retire at 65. Some also saved extra and ended yup with some extra for old age and travel.

    I agree with OG. Superannuation is a terrible expensive tax minimisation vehicle for the bottom 60% of the wage earners and isn't compulsory for the top 1% anyway.

    There is no alternative now and as TREBOR says it's just transferring 9.5% of PAYG wages into the FIRE industry. Just another tax on the already overtaxed.
    TREBOR
    25th Jul 2018
    1:03pm
    Yes - a folding of the persistent 7.5% levy along with other social security levies as required (read Menzies' statement on this), along with a return of the Future Fund and folding it into the same general fund OUTSIDE 'consolidated revenue' (theft by another name to create a slush fund for political wet dreams - nobody ever said politicians were stupid.. crazy, maybe.. selfish to a T.. but not stupid), then allowing that fund to be managed by an elected body that will determine where and when to invest in infrastructure projects for the nation as a whole, and from whose accumulated cash resources all will receive a basic pension, unemployment/loss of work pension (better term for it), at the appropriate times, with the opportunity for those who can to invest in the same fund and thus secure a 'superannuation' component - but with restrictions on how much you can and beyond that you are into savings from discretionary cash and pay tax on income derived - (stops to draw breath) ...................... is the way forward..... and OUT of the hands of grasping politicians and their mates.
    TREBOR
    25th Jul 2018
    8:50pm
    Anyone considered yet how it is perfectly all right for a 'government' so sideline $130Bn into a non tax paying account Offshore for it's own 'social security' and payout for life - but that the social security for the peasants is forced to be painfully doled out by the same 'government' from 'consolidated revenue, and there is endless argument created by that government over the rate and even the life possibility of that social security for the peasants?

    I think we need a mighty big revolution..... and we might have to invade the Daymans to get our $130Bn back... if Don Pedro
    Castella doesn't ship it out hurriedly first into a Swiss bank account.

    Amazing that a civilised non central American non-dictatorship could even consider that such a move was 'right' and 'fair' and 'reasonable'.... if a Central American dictator shipped $130Bn out of the Treasuria Nacional into a safe haven account, he'd be tried as a criminal in the international courts - and probably be invaded by the US.
    Rae
    26th Jul 2018
    12:20pm
    Yes TREBOR. The NDIS will be the next big scam. Apparently the nSW Government has sold the Disability Department to the private sector and we all know what happens next. A lot of newly wealthy foreigners and struggling disabled who were doing okay before the bright sparks saw the $$$$$.
    Old Geezer
    25th Jul 2018
    12:07pm
    If people want more than the OAP in retirement then they simply have to save for it. Super is only a tax advantaged vehicle for some people to save for their retirement nothing more. This day and age one would have rocks in their head to put into super any more than required. Although one may pay a little more tax saving outside super is preferable and one can get much better returns which makes up more than any tax saved under super.
    Rae
    25th Jul 2018
    12:47pm
    Yes OG. It seems those who didn't pay much tax anyway would prefer to pay more in fees and charges and bank interest for mortgages than pay a bit of tax. It's laughable if it wasn't so very sad.
    TREBOR
    25th Jul 2018
    6:30pm
    And those who really don;t earn enough to pay tax also miss out all round under the OG scheme.
    Anonymous
    26th Jul 2018
    12:01am
    Under the OG scheme, the rich and privileged thrive, gloat, boast, insult and denigrate the strugglers, and condemn anyone not wealthy to misery. Oh, and doesn't he HATE anyone who succeeds in rising above their station and achieving.
    Rae
    26th Jul 2018
    9:30am
    TREBOR Superannuation is bad for those workers as they pay 15% on savings and 15% on earnings when there is no need for them to pay tax at all.

    A bigger problem for the low income earner is the cost of education now. If we had the free education that once existed they could have a chance of retraining for better outcomes. The cost of training now id outrageous.
    Anonymous
    27th Jul 2018
    8:33am
    Yes, Rae. It's a tax dodge for the wealthy and it's plunging the nation into massive debt, but the stinking rich keep claiming it's paying the OAP to people who didn't get fat handouts to build their super fund that is the problem. It's time to overturn the grossly unfair superannuation tax concession system and make the concession a flat 15% discount of the top marginal tax rate FOR EVERYONE, including honouring negative return claims for very low income earners. Then there might be some logic to the system.
    Old Geezer
    27th Jul 2018
    2:49pm
    OGR high income earners already only get a 15% discount on their contribution to super.
    Old Geezer
    27th Jul 2018
    2:50pm
    OGR high income earners already only get a 15% discount on their contribution to super.

    However the wealthy simply don't use super at all as it is too restrictive and too limiting. Better returns elsewhere.
    Old Man
    25th Jul 2018
    12:07pm
    Of course we all fear running out of money, our generation started off with cash in brown pay envelopes, no credit cards and banks that were careful to whom they lent money. That fear doesn't necessarily transfer to the reality and as I posted yesterday, each of us have different lifestyles, different goals and we live in different parts of this great land. Some of us own our homes, some are still paying a mortgage and some are renters. Each of us have a different story to tell so there can never be a "one size fits all" answer. In our case, the return on our super has averaged out higher than the minimum amount we are required to withdraw so, hopefully, we'll outlive our modest super.
    Old Geezer
    25th Jul 2018
    12:22pm
    My greatest fear is that I don't have enough time left to spend all my money.
    Rae
    25th Jul 2018
    12:49pm
    Superannuation is terrific for the top 40% of income earners or those with tax to worry about. But then again so was property purchasing over the same 40 odd years.
    TREBOR
    25th Jul 2018
    12:53pm
    I'll send you a PO box number for what you calculate you can't use, OG....

    Oh, BTW - you can triple your money in no time flat with AMP .... Associates of the Mafia Protection policy investment.....
    KSS
    25th Jul 2018
    1:08pm
    Only too happy to help you out with your terrible fear Old Geyser. Just send your account details and passwords and I'll do my very best to help you overcome your greatest fear. I'd even be willing to share the burden with TREBOR!
    TREBOR
    25th Jul 2018
    1:14pm
    Thank you, suh! All donations gratefully, graciously, and gracefully accepted....

    OM - all true - just one point - it is one thing to fear not having enough in retirement - it is another to be constantly put in fear of having what you have reduced by political moves and thus not having enough for retirement.

    Government here seem intent on reducing the retiree and prospective retiree to a quivering jelly unable to resist the next move downwards...
    TREBOR
    25th Jul 2018
    1:17pm
    Just reading up on the campaign in Tunisia in WW II - apparently the Krauts would fire off odd bursts and shoot odd flares into the sky at night to make it look like another assault was coming in - thus unsettling the Allies no end.... that and constant random bombardment kept the inexperienced Allies quivering like jellies....

    Just saying - I draw allusions everywhere..... sometimes allusions are illusions but nobody's perfect....
    Old Geezer
    25th Jul 2018
    1:41pm
    Trebor agree you will triple your money using derivatives if you invest at the right time.
    Old Geezer
    25th Jul 2018
    1:54pm
    Bank has just sent me a email saying I have doubled my spending and also doubled my saving so it appears the more I spend the more money I make too.
    Rae
    26th Jul 2018
    9:33am
    OG it's good you can trade successfully. It would be very bad if everyone tried to especially those with fear of losing and fear of not winning enough.
    Anonymous
    27th Jul 2018
    8:29am
    It's good you are doing well, OG. But do you really have to be so insensitive as to boast and gloat constantly and imply that those who are struggling are at fault? There are people here who have done it very tough and are struggling. Decent human beings don't rub salt into other people's wounds constantly. Take your wealth and GO AWAY
    Hasbeen
    25th Jul 2018
    12:16pm
    I am sure suitable push polling can get you the type of response that can be claimed to show 80% of people are frightened of running out of money. That is a nice headline to encourage more people to "invest" more savings in companies like AMP.

    From recent exposures of their dealings, many probably illegal, AMP would be one of the very last people you would seek advice from, or put any money with.
    Rae
    25th Jul 2018
    12:25pm
    Not surprising. The son in laws fund with amp made 1.36% last year and cost $2000 in advice never given and fees. So anyone with amp won't manage even the 5 years if they keep up those sorts of losses.
    floss
    25th Jul 2018
    12:40pm
    Hasbeen my thoughts exactly,who would ever take notice of these crooks.Trebor always enjoy your comments you seem to know your subject and at times throw in a bit of good Aussie humour that is getting scarce in this once great country.Yes privatisation and over population will kill this country. To bring more people into Australia when we have climate change is plain stupid after this drought will our stupid pollies wake up.
    Rae
    25th Jul 2018
    12:52pm
    floss do you think they have noticed there is a drought yet? Certainly I doubt the media has. Maybe just starting to notice it.

    I saw a pair of wedge tails hunting over the ocean here yesterday. It's not looking great for our inland dwellers.
    TREBOR
    25th Jul 2018
    12:57pm
    *blushes* ..... (aw, shucks, t'weren't nothin', ma'am, we southern boys is jest like that without fanfare)...

    Oh yes - that drought again - in a way I'm so glad we (the ex and I) don't live on the land any more and suffer through twelve years of water shortages.. even my ducks in their private dam were swimming in a gluey mix of mud and water .... had to wash out in a bath tub filled with water... not spoilt those ducks... not by any means... nah....
    KSS
    25th Jul 2018
    1:12pm
    Actually perhaps the drought has a silver lining.

    Maybe all those foreign investors shoring up their own food supply/security may have second thoughts and Australia can buy back the prime agricultural land it allowed to be sold.

    Nah! Didn't think so. As I said, we can't always have what we want.......
    TREBOR
    25th Jul 2018
    1:20pm
    Been reading and hearing about billionaire Chinese investors here, who just laugh off million dollar fines etc as just part of doing business (like a bribe in some countries).. these guys would just suck all the water out of the stagnant streams and dig illegal bores etc to feed their 'investment' and not give a damn.
    Old Geezer
    25th Jul 2018
    1:43pm
    Just been out west and yes it is certainly very dry and also quite cold. Bore baths at Lightning Ridge were a bit too hot but the hot pools in Moree were just right.
    Rae
    26th Jul 2018
    12:25pm
    Moree is on my list OG. Apparently the ancestors settled in Terrie Hie Hie in the early1800s so I'd like to see it one day when I no longer can do those long haul flights out of Oz. The others settled Wellington NSW and Gulargumbone. Been there already though.

    I have a terrible time trying to get the overseas call centre staff to understand my accent haha.
    KSS
    25th Jul 2018
    1:05pm
    "the findings are worrying as they reveal a big gap between expectation and reality.......“Most of us want to retire early and we want to be comfortable,” Ms Charman explained. “However, with life expectancy continuing to rise, we are potentially leaving ourselves short of cash in our retirement years."
    "....“The research suggests many Australians are facing the prospect of having to push out their retirement plans by at least 10 years."

    How is this new? Weren't these people told they couldn't always have what they want? You might want to retire at 50 or 55 but for the vast majority it is not now (nor ever was) possible. Boo hoo for those who may have to work another 10 years to 65! Poor things, how will they cope in the real world?

    And I question whether the respondents are really worried about running out of money in thier retirement or running out of money to leave the kids? There's a big difference.
    TREBOR
    25th Jul 2018
    1:23pm
    Government is helping by pushing the pension age to 70 - that'll keep a few of 'em in the workforce longer..... oh...... wait a minute........ most of them can't get jobs and are on unemployment and can't get coverage for workplace insurance and are thus having to wind down their existing assets...... meaning they will have a greater demand for Pension money on eventual retirement....... St Julia of the Left gave us that one before she flew the coop on $300k a year plus earnings ..... now the Vultures of the Right are feeding off it...
    Old Geezer
    25th Jul 2018
    1:45pm
    If I was a betting man I'd be betting on a Labor government putting the retirement age up to 70 in it's first time too. Both parties realise that it is a saving to them as it forces people to draw down their savings before they retire instead of hording them on the OAP.
    TREBOR
    25th Jul 2018
    2:21pm
    Feminised gay street cafe uni quadrangle Labor certainly hasn't said a definitive NO to a 70 pension age... for the peasantry......

    Can't appear to be weak and back down from what they said a few years back under St Julia....

    Told yez I stick it to Labrador as much as their lying mates in the opposition - wait until Labrador get into The Chaise Electrique... and start all their feminist shenanigans....
    Cowboy Jim
    25th Jul 2018
    7:46pm
    OG has a point about people hoarding their wealth for the kids and now possibly being forced to draw down on their savings. But people will just put themselves on New Start, after 60 years of age people have to volunteer for charities for x-number of hours per week and no longer are required to look for a job. Plenty of them in my neighborhood and with the rule to 70 the number will just go up. In other countries the plan might work but not here.
    Hey OG I am not hoarding for the kids - haven't got any. But I am still spending.
    TREBOR
    25th Jul 2018
    8:53pm
    No need to hoard for my kids - I guaranteed their future years ago.. at great cost to myself... but then - you can't see around corners..... and it's very hard to see far ahead when some bastard keeps putting huge humps in the road ahead....
    TREBOR
    25th Jul 2018
    8:55pm
    If people wish to hard for their kids, that is their right - politicians and the rich do it without a second thought, and to leave hoarding for the kids as the sole province of these kinds of vultures is to create an endlessly divided society, and one that will inevitably implode and self-destruct due to inequities.

    You simply can;t rob people forever without justice catching up with you.... just call me Wyatt Earp... Justice Is Coming!
    Anonymous
    26th Jul 2018
    8:56am
    Hoarding for kids - no matter how much they may need it or what benefits it might yield for the taxpayer/nation long term - is apparently a crime, punishable by deprivation, but gambling, drinking, partying, holidaymaking, buying an outrageously expensive home, or gifting to the kids 5 years before pension age is quite okay and financially rewarded. What an absurd system we have! And some morons think this is a good idea!
    Rae
    26th Jul 2018
    9:38am
    None of it would be an issue except the Government has made it so by encouraging a greedy overindulged financial industry and also mismanaged revenue and population control.

    It'd the Governments ideology that is at fault not people wanting to save a bit or expecting the old aged pension that was always available under efficient governments back before Fraser took over.
    Jim
    25th Jul 2018
    4:28pm
    I am a big fan of superannuation, it was one of the best things that the Hawke Keaton government did, I have been retired for 8 years now, and have been able to almost fill my bucket list, my wife and I don’t mind roughing it a bit, we never travel first class, as long as accomodation is clean and close to the place we want to see. If it hadn’t been for the extra I managed to put into my super I doubt I would have been able to do the things I have, some say that super is not the best form of investments, I can only relate to my own circumstances, and I certainly didn’t have the know how to accumulate the wealth we now have, my wife has never worked in paid employment, choosing instead to raise our children and working as a volunteer for most of the last 50 years, meaning we only had one income, I worked mostly in heavy industry and part time in hospitality, I guess we were just lucky, some are not, I still thank Hawke and Keating for the situation we are in.
    Sundays
    25th Jul 2018
    6:01pm
    I agree Jim. If it wasn’t for compulsory superannuation, we wouldn’t have a comfortable retirement either. It also helped that we have maintained our health, didn’t get divorced and were able to choose when we retired. I note OG mentions derivatives. Unless you know exactly what you’re doing you can take big losses. I grew up poor and this is perhaps why I am conservative and careful wth money
    Cowboy Jim
    25th Jul 2018
    7:10pm
    Yes Jim and Sundays - Super helped us as well, good thoughts were behind it. Full marks to Hawke and Keating - wish we could have a crop of politicians like it for our times. Was reluctant in the beginning to see the benefit as I preferred to have the money in hand as little as it was then. Glad it was introduced just the same. At that age it was just a help with the pension and never meant to give me SFR status - never aspired to that anyway.
    TREBOR
    25th Jul 2018
    8:58pm
    Yes - super can be a help - but for many these days under the part-time casual temporary contracted non-employee system, is harder and harder to get together and continue to contribute to in a meaningful way.

    How does a serial part-time casual accumulate sufficient super for it to make a difference, when he/she loses it all steadily through the fees and charges mentioned time after time here?

    If you want universal super to be of true benefit - you must first ensure full employment and continuity of employment.
    Greg
    25th Jul 2018
    10:39pm
    Another fan of super here too - enabled retirement at 55. If it was left up to me to save 35 odd years ago it wouldn't have happened. OG and his derivatives - not everyone likes to gamble when you're getting to the downhill stretch of life.
    TREBOR
    26th Jul 2018
    8:05am
    Again, Greg - all well and good if you have a smooth run etc.... trouble is many don't get a smooth run, and all the traditional values of work, loyalty, honesty, integrity mean nothing in this equation..... not in a nation increasingly run by thieves and fools.
    Cheezil61
    25th Jul 2018
    5:10pm
    If this is correct then it's obvious that wages are way too low, because who can afford to put any money at all away with the cost of living bring what it is!. Even less hope after broken relationship payouts & other running & maintenance costs (cars,house maintenanvmce), mortgages, kids to uni etc - the money only stretches so far! Take more away from us & flog us harder to work longer even tho our bodies & minds are stuffed by the time we are 60! Lucky country, yer right!
    Charlie
    25th Jul 2018
    9:51pm
    No surprise when there are some who worked 20 years before compulsory super was invented.
    TREBOR
    26th Jul 2018
    8:07am
    Exaccery ..... peoplw who crowabout their super and how great it was were not in those categories... I'd suggest they were public servants of some kind with a highly preferential system of 'superannuation' - allegedly in lieu of low rates of pay' (LMAO)....
    Rae
    26th Jul 2018
    12:28pm
    TREBOR I have yet to see how anyone earning less than $80 000 a year will be able to accumulate enough by simply saving 9.5% less taxes, fees charges and market corrections. The figures just don't stack up.
    TREBOR
    26th Jul 2018
    12:50pm
    Spot on, Rae. It's just a little bit at retirement time for the peasants and a little less pension for the government to find out of OUR coffers.

    Apart from that, it's a job creation scheme for government mates etc via running the show and a little bit of guaranteed tax revenue that cannot be written off - albeit at a lower rate of taxation.
    Anonymous
    27th Jul 2018
    8:26am
    My partner had super for a while. Employer did a dirty deal with the union and between that and mismanagement of investments, every cent disappeared! A relative should have had $380,000 on retirement but ended up with $60,000! Then partner went on to a low-paid job when compulsory super came in, but the employer contribution was less than the fees so every year they went a bill for the extra fees. Never paid of course, but neither was there ever any benefit for sacrificing a pay increase to ''accrue retirement funds''.
    HappyDaze
    26th Jul 2018
    1:53pm
    AMP would be in the know and one of the causes.
    I worked on a project some years ago and the default super went into AMP Super.
    Between $11-12,000 went to AMP. I did not check my statements due to my wife ending our marriage (wife was a thief but not taking super).
    When I checked a few years later, I found there was approximately $3,500 remaining. I quickly moved it out to an honest company. AMP - the BIG THIEF!!!
    KB
    27th Jul 2018
    11:18am
    My daughter started working and the company used AMP. My daughter took what was left and put the money into her current Super Fund Very little left after AMP extracted fe,AMP are indeed thieves

    26th Jul 2018
    6:45pm
    Most Aussies nowadays would have a nice super nest egg by the time they retire

    Those that dont due to falling on hard times can rely on the pension safety net

    Superannuation is designed to look after Aussies in retirement, The pension is welfare for those who cannot provide fir themselves
    Rae
    27th Jul 2018
    7:53am
    Falling on hard times includes the bottom 60% of all workers who have been done over big time the last 20 years and are still working for less than $25 an hour.

    Superannuation was never designed to look after Aussies in retirement at all. If it was then it's failed because of wage stagnation, overcharging of fees and insurances, outright theft by employers and inflation of living costs.

    Those ending up with only a couple of hundred thousand in super after 40 years or so proves the system doesn't work at 9.5% and no guarantee the employer pays it at all.

    A lot of Aussies will have a nest egg unless they divorced or are joining the growing group spending down super before they even get to the pension aged due to redundancy rates.

    Possibly even as high as 30% may achieve self funding. If you do then you've saved the taxpayer and received nothing yourself from all those taxes you paid.

    Pure inequality on a plate.
    Anonymous
    27th Jul 2018
    8:23am
    You are so right, Rae. Astonishing how some posters here are so ignorant of the reality or so uncaring about the sad state of the nation!

    Boggles the mind how ANYONE could claim superannuation was ''designed to look after Aussies in retirement'' and suggest it's actually fulfilling that objective! 80% of a $65 billion annual bill (rising very fast) is subsidising the retirement of the richest 20% of the nation, while the low-paid get virtually nothing, a lying government claims the aged pension is not affordable at current rates, and the system denies battlers who worked hard and sacrificed to save any benefit for their savings. It's an appalling system designed by the rich to disgustingly over-indulge the rich.
    simo
    28th Jul 2018
    7:56am
    You all need to get a life and stop complaining
    *Loloften*
    1st Aug 2018
    12:42am
    Hahaha......AMP advice? Sorry, still can't trust 'em.
    AverageJoe
    29th Aug 2018
    3:21pm
    Money Investment advice article from AMP... questionable.
    What I did.
    I withdrew my money from AMP.


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