Indyvidual,

It doesn't pay to tease mad dogs.

National Welfare Fund legislation was repealed in 1985.
Paul1405,
Yes, we all know but the 7.5% deductions weren't stopped. Socialism is to eventually run out of other peoples' money or as in your case, other peoples' money propping up your Superannuation in return for absolutely nothing !

Indy,

The 7.5% tax levy imposed between 1946 and 1985 in the form of a "National Welfare Fund", was not an investment by taxpayers in their future retirement. The levy was immediate taxation to make direct payments to those on an aged pensions then, not in the future. You try to present it as a form of superannuation, which it was not. The aged welfare you receive today, is not derived from some imaginary income generated by your past contributions (if you ever made any contribution at all, I very much doubt you did) to a so called "National Welfare Fund".

//other peoples' money propping up your Superannuation// Making things up again, to try an justify your la graisse! People like YOU, believe Socialism is bad, unless its benefitting YOU.

The old age pension is what set some Western countries apart from Monarchies & benign Dictatorships. Superannuation is an attempt to to put us back to Landlord & Dictator times !

One just has to look at the character of people promoting Socialism & Superannuation !
They don't give a damn about those who provide for them !

In the 70's several European countries had Pensions equivalent to 75% of the wage/salary of their last job. It worked well until Socialist Governments started literally uncontrolled handouts for so-called refugees. These same "refugees" are now demanding their relatives & long-term unemployed receive the same.
Does this sound familiar to Australians ?