A couple of days ago I watched a current affairs program which showed how an elderly lady struggled with her pension.
It is sickening to hear of the obscene salaries of Judges & Ceo's. Also, there are so many useless Bureaucrats & Academics who are on over-the-top taxpayer funded salaries.
Then we have those who go into liquidation with obscene amounts of money in their accounts which is owed to people. How often do we hear "what price a human life". I don't know how much a person is worth but a value of $240 a week really isn't that much, is it ?
Obscene is all I can think of. Very socialist indeed !
Anyone out there can provide some taxpayer funded salary figures ?

Some years ago I structured a mortgage on a house for a couple well beyond pension age. They wanted a few thousand to pay out a creditcard debt and do something for one of their grand children.

The mortgage would save them $50 a week over their credit card debt.

The house was their only asset. I asked them about superannuation and they said they have never bothered with either superannuation or insurance.

Whilst you say “an elderly lady struggled with her pension.” I have to ask, what consideration did she give to her old age when younger?

My partner has salary sacrificed for ten years and has recently been told her accumulated pension funds will ensure she has a pension which will more than cover her daily needs.

I myself contribute more than $1,000 a month to super, and then have other sporadic government and miscellaneous contributions which get tossed in to the pot.

I have also carried employment protection insurance for the past 20 years and which I have made 2 claims on.

“Very socialist indeed “

I am no supporter of socialism or the fraudulent claims and illusions promoted by socialists. The deception is a political one which foments envy of the wealthy by the less wealthy without considering what the less wealthy can do to improve their own circumstances, if they were to adopt the practices of the wealthy.

That Australia is not an overtly socialist country is a good thing. The general wellbeing of folk in USA and the western democracies is a lot better than the general wellbeing of those in the old Eastern Block or Russia, who experienced “socialism” in the very real and practical sense.

Whilst the goals of socialism might well be considered by some to be “laudable”, what actually happens in practice to people is abysmal.

What you may consider to be obscene is up to you. What I consider “obscene” is the notion that any government can tell me how much I am allowed to earn or how I am allowed to spend what I earn.

Col_Rouge,

"Whilst you say “an elderly lady struggled with her pension.” I have to ask, what consideration did she give to her old age when younger?"

You have made valid points, however, this elderly woman may never have had a job - one doesn't have to go far back when women didn't work - and when they did it was for fairly low wages - and generally only if they were unmarried.

I believe that employment only of unmarried women was virtual "law" in some places, such as Broken Hill. Someone please correct me if I am wrong.

If she had been married, perhaps her husband had been at the bottom of the wage scale necessitating them live on everything he earned.

One really has to know the factors of individual cases before we can make fair assessment.
However, I agree on much of what you say.

I also agree totally with Individual.

Some receive obscene payment and pay-outs. None really can justify such. The exception are those who have created businesses employing many like Bill Gates, or perhaps someone working away in a research laboratory, and on a virtual pittance, who discovers a cure for cancer.

I have to agree with Danielle. Many older people were raised to believe that they worked and paid their taxes and at the end of the day the government would look after them. Not for free but from the taxes paid for this purpose. I think there was even a separate pension type fund that would be used to fund the pensions (before Superannuation became the domain of the private sector). I don't know whatever happened to that money I guess into went into general revenue.

Even at my age, 47 I remember my first job after University did not pay Super. I don't think I was paid Super until I joined the public service and then I took time out to raise my children who are now teenagers. Many women older than me did not work again once they had their family. This was the norm.

It is obscene some of the salaries that are paid to CEOs particularly to those who do not prove value for money but are still paid huge bonuses to boot despite poor company performance or worse, collapse while the creditors (other hard working business people, consumers and shareholders) go begging.

col rouge & Danielle,
thank you for your input. As i expected replies of that nature I shall now address the following.
Both these replies are very valid indeed.
we have two very common views on the same problem. If someone has not sufficiently contributed during their working life towards their retirement is it really both technically & morally their own fault ? My personal view is no ! I put this failure of input for future pension funds squarely at federal governments of both political parties. For instance; How can anyone expect people to pay into a pension fund that doesn't exist. I'm referring to pre 1970. Many workers had to go from job to job, thus not being in a position to make contributions. Please take into account that not everyone was/is working in the Public service or is in business. Those on casual wages had hardly enough to live on let alone have enough to pay into a fund. If we should not look after such people then how come we look after drug addicts & other people who don't contribute one iota towards their pension.
As a society WE MUST ENSURE that EVERYONE contributes. For every Dollar earned we should take 10 cents for our future. I mean EVERYONE, rich or low wage worker. That will ensure sufficient funds for the retired to have a dignified existence. If we can support inadequate Artists then surely we can support workers who wore out their bodies & mind to keep Bureaucrats comfortable.

Many can not contribute those who can should do so at 15% this would let those who could not pay as they worked a better life after work.
Superannuation is self interest if anything is but how would some on very pow incomes pay it?