Original article by Terry McCrann
The Weekend Australian – Page: 38 : 1-Sep-18
When it was introduced in the early 1990s, it was hoped that compulsory superannuation would mean an end to people needing the old-aged pension. However, that ideal is no longer practical, due to a combination of low investment returns and the reduction of permanent and secure jobs. It has been suggested that it is now time to make Australia’s superannuation system a voluntary one instead. This would deliver a number of benefits, including an increase in real wages and a big jump in personal income tax revenues.
RESERVE BANK OF AUSTRALIA, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY