Very happy with my returns from CBUS over the years and this is from someone with a decent handle on investing. So many simple types just won't put anything away for their future so unfortunately have to be pushed.
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Not really hard to do a tiny bit of research to make sure your find is a decent performer either.
Gralin
Super Moderator
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- #7,929
No it's not.Good grief you're a miserable campaigner.
How many numpties would get to 60 years old without a cent to their name if not for Super. Many. Its a good system.
It's a con
The super companies make more off your wages than you do
It's money you earned that the government stops you from accessing
Tough season for Browny.
Still gets paid to put out rubbish tips.
It's the likes of him that should be banned.
NSWCROW
Make me an Admin!
Who writes this shit
CLP are back in the NT,maybe the voters have short memories.
No doubt they'll get another book out of it.
The GOAT Australian politics book
No doubt they'll get another book out of it.
The GOAT Australian politics book
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You have so much control over your super these days…
Name a fund outside of super that could do better??? Including the tax advantages of super.
And guess what… if you suddenly stopped super.. people would have more money to borrow and spend… so house prices sore, and goods and service costs increase and suddenly it’s all gone.
Gralin
Super Moderator
- Moderator
- #7,937
You have no control, you have to use it, it's not an opt in system
10% of your wages kept from you
Yes the ultra wealthy do enjoy dodging taxes via super
Super already negatively impacts housing prices
Funnily enough our housing market really heated up after super not before
We already do, super costs the budget billions
As does negative gearing but landlords will also say they're funding their own retirement when it's tax payers and renters
Super does allow the government to treat pensioners like shit though
Are you suggesting superannuation be abolished altogether?
I look at it as an insurance fund for idiots who'd rather put money into depreciating assets than investing towards their future.
The pension should be a safety net, nothing more. It's not a right.
Honestly one of the strangest gripes I've seen. How could anyone logically be against Super
Could make a case against it if you outperform your fund but that isn't true of 99% of people. "They're stealing 10% of your wages to do do it" is madness. It's giving you a much larger nest egg than if you didn't invest. The idiots would get to retirement without 2 coins to rub together otherwise
My only gripe is it should be accessible sooner to fund going part time as you near retirement
"Companies make more off your money than you do". I'd love to see some stats and facts on this ridiculous claim. Simply untrue
Hence why it is a safety net...
The other option is, abolish super, increase taxes and trust the government to use the money wisely enough so that there is something there for you to draw a pension from when you can't work any more.
Gralin
Super Moderator
- Moderator
- #7,943
no its not like taxes
you get taxed on super
super is your income, from the hours you worked, kept from you as forced savings by the government
while you don't have access to that money its used, you're charged a fee for that, you're taxed on the way in and the way out
the companies that invest it make profits off it
when you get a pay rise the super contribution is factored in
it has a negative impact on take home wages and wage growth
and every time they increase the % of your wages that go into super that gets worse
And how exactly is that not like tax?
Do you honestly believe that the majority of Australians (or even a large minority) are able to manage the long term investment of their funds to look after themselves in retirement better than good super funds?
If it wasn't for super, we'd have higher taxes to pay for all the people who didn't save any money and are reliant on the Govt pension.
There's not many economists who disagree with that statement.
There's not many economists who disagree with that statement.
You pay 15% tax on the way in (lower than the rate for the majority of workers) and since when does it get taxed on the way out?
Gralin
Super Moderator
- Moderator
- #7,948
Tax on super benefits | Australian Taxation Office
Work out the tax that applies to withdrawals or payments from super.
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Is there a possible society in which the government pays you to live from age 65 to as much as 100 these days with no further contributions being made by you? Possibly. Is it even remotely within the realms of possibility given the current frameworks in place? No. Super is a good policy for the times and thinking the government will give you a sweet pension (and it has to be sweet or people will be complaining they are consigning seniors to poverty) for potentially 35 years is real fantasy land stuff.
When they first brought out compulsory super , it was introduced as a cost to the employer.
Then there was a system where you could get more from the employer if you added a percentage of your take home pay.
So technically its not your wages, its a pay rise you never got.
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