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The Forum > General Discussion > Of Pensions and Pigs

Of Pensions and Pigs

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Just musing on some figures regarding the so called Age Pension problem, which really is not a problem at all as we spend only 3% of GDP on it, almost the lowest in the civilized world and only half of what America spends at 6%.

I just did an estimate of what Keating saved us over 20 years by shaming the small f feminists into "the equality we had to have" and raising pension age from 60 to 65 for females, and it is about $60 billion in 2015 dollars, ie 1.5 years worth of the current $39 billion. Don't you just love equality MS Greer?

I don't have enough data to estimate what Keating's compulsory Super is saving per annum but you can bet the Government knows and it will kick in at about $50,000 average saving per pensioner over 20 years after the 2017 reforms just announced.

One might ask why USA spends double the percentage of GDP but J Doe only gets half of what we do as Age Pensioners, but I think it is simply the good old "Statistics and damn Lies" because our figures do not include the Peter Costello Pig Bank (Capt Smirk Inc) of which Smirk is now in charge, weighing in at $120 billion (of OUR money he lifted) to pay for unfunded Super of the Fat Cats like him.

So all this current talk and the pronking of the new "R Word" is just a ploy to cover up the smell from the Pig Sty.
Posted by LittleOzemailPensioner, Thursday, 14 May 2015 2:22:30 PM
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But one has to ask IF there is any honesty at all why can't the fat cats on UNFUNDED pensions simply have their actual contribution calculated over the years, with say 8% annual increase and get THAT amount, same as normal people?

What is sacred that they were promised retirement on the "never-never", when they are talking about moving the goalposts for normal people?

That $120 billion in the Pig Fund would go a long way to solving all our problems. But then again "pigs might fly" when Capt Smirk is in charge.

So Keating as treasurer probably saved Oz some $200 billion over the years and Smirk as treasurer COST us $120 billion in his own dash for the cash.

I would love to see someone mount a Constitutional challenge to the Future Fund, but seeing as judges are the main beneficiaries of the FF I can't see it happen.
Posted by LittleOzemailPensioner, Friday, 15 May 2015 10:43:04 AM
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LittleOzemailPensioner,

Didn't 'saint' Gough Whitlam create that 'unfunded' problem you refer to?

Howard's Future Fund was to balance it.

Both sides of government prefer not to be open with the public about the unfunded aspects of their policy proposals. By far the best examples in recent years have come from Labor. Shorten's reply to the Budget is a case example.
Posted by onthebeach, Friday, 15 May 2015 12:30:35 PM
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Yes, but why balance it as you say?

The Piggies DID pay some money into Super so why not simply get the computers to pay the Piggies based on THAT, exactly the same as your Super Fund does for you.

But Howard was the worst of the lot - by losing his seat as well as govt it was reported the next day (for a very short time till it got zapped from the web) that he got $230,000 EXTRA pa in his Super.

Like most mortals get to retire on less than $230,000 for the whole 20 years that the govt plans for them to live, but this was EVERY year for Howard AND it was not the total but just the icing on top of a very generous UNFUNDED base.

"Have you seen the Little Piggies playing in the dirt?"
Posted by LittleOzemailPensioner, Friday, 15 May 2015 1:05:43 PM
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This is of course why the, "snouts in the trough," are terrified.

If the peasants dont work until they are 70years or dead they might
have to give up some of their lucrative entitlements.

Even have to share some. Horrors!
Posted by CHERFUL, Monday, 18 May 2015 8:10:14 PM
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