When will politicians learn that superannuation is not a public piggy bank for them?
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Australian retirees have suffered a number of serious financial setbacks in recent years with historically low interest rates, adverse changes to the pension asset test and crazy world share markets.
It must feel terrible clinging to a savings life raft and trying to keep head above water while our greedy politicians circle like sharks looking for an easy meal.
In fact, adverse changes to superannuation disadvantage all Australians who work and have a superannuation account that is contributed to if only by their employer.
These accounts rely on the accumulation of earnings in order to grow in value. So if for example, the earnings from Dividend Imputation Credits was to be taken away; that would be a very bad thing for all Australians.
It’s little wonder that many young people do not want their savings tied up in anything risky like superannuation. Politicians must learn that dismantling our superannuation framework is political suicide and bad for them, too.
Go ahead Bill - make my day.
Tony Dewhurst, Kangaroo Flat
Private health tomfoolery
Once again that ominous day of the year is about to remind us of our never ending increasing private health insurance premiums and what better day for this information to arrive than on " April Fools Day."
But it is not simply a reminder of this continual cash grab, it also highlights the problems in the system again.
These premiums have risen 30 per cent over the past five years, but the taxpayer is also handing out a $3 billion dollar buffer to keep this system afloat.
So just what is going to happen when the fan is completely stopped by consumers declaring "enough is enough" and abandoning the private system in numbers that make it completely unsustainable.
It’s already evident that this is effecting the viability of the private system, so what is the government’s approach?
On present indications, absolutely nothing.
The claim by the present Health Minister that this year’s rise was the lowest in recent times, but still 3.95 per cent, doesn't help people stretched to the limit, hence the drop out rate skyrocketing.
Sooner rather than later the powers that be are going to have to tackle this problem, price rises are going to have to be curbed by all players for the system as we know it to survive.
And what better time for it to change than on April Fools Day.
And the possibility of that says it all.
Ken Price, Eaglehawk
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