The latest Super Fund ‘smash & grab’ strategy from Canberra is quite predictable.
What else could you expect from a government who has already ‘spent the profits’ (from the mining boom), long before the mining companies and their shareholders even received any of the ‘anticipated profit’.
Now Canberra looks longingly at the Super Funds that have been prudently accumulated by Australians who accept the responsibility of caring for themselves as they slip into old-age.
The proliferation of Super Funds was a result of previous greedy governments who had spent earlier funds set aside to replay taxpayers, in the form of ‘aged pensions’.
So, before their government profligacy could be discovered, the unsuspecting ‘punters’ (you and I) were encouraged to ‘take care of ourselves, because the pension cupboard is bare’).
Sounds a bit like the ‘Future Fund’ trick.
The politicians and public servants set themselves up with pension plans , well beyond the dreams of the ‘workers’ (this is where the word ‘unsustainable’ was invented), and then having realized that the ‘cupboard was bare’, decided to loot ‘our Telstra[i]’.
Nice work if you can get away with it, but try this immoral solution in the ‘private sector’ and it’s straight to a prison cell!
So it’s greed that ultimately brings all criminals unstuck, so will they get away with it this time as they plunder your Super Funds?
[i] Treasurer, Wayne Swan, if defeated this year, is entitled to a parliamentary pension of $168,106 per year. A worker not on such a ‘political’ pension, would need to build up a superannuation lump sum of $5.6 million to secure the same amount.