lisa jones wrote:Anyone here know......
Being a self appointed expert on nothing and opinionated know-it-all of everything, of course I do
lisa jones wrote:Why there's 1 rule for parliamentary pensions and another for the aged and disabled?
Because government is the oldest extortion racket going. It's where one group of people make up a set of rules that don't apply to themselves, giving them the authority to take money and resources off everyone else. It's been that way since tribal chiefs and kings and doesn't matter what sort or what persuasion the govt is. They're all scammers.
The current biggest scam IMO is compulsory superannuation. The concept sounds good in theory but being a cynic I always knew it was going to be a rip-off.
For generations people have paid tax in the belief that when they get old the govt would support them with a pension, unless you're too wealthy like my old man who while running his own company paid 51% tax, and now pushing 80 pays the ATO $1000 a week.
Originally superannuation funds were run by insurance companies, and insurance companies were notorious for taking your money and always looking for excuses to reneg on claims.
Paul Keating figured out the unions could make a mint via privatised pensions so introduced compulsory super, and now every slave driver and his mastiff is in on it. So while we're expected to pay for our own pensions via super, we're expected to pay the same rates of tax as someone not compelled to provide for themselves.
In 1989 when a Superannuation Trust of Australia (STA) rep turned up at my father's metal spinning business and took up our morning tea break with her spool, she said "With employer only contributions of 9% this account will be worth $80,000 when you're 55, and with superannuation you can retire at 55 but have to wait til 65 for the pension".
I replied "I don't believe these companies will be around when I'm 55, if banks and building societies can go under, and they have - eg Tricontinental - then so too can insurance and finance companies. And when I'm 55 $80,000 will probably only be worth what $5,000 is today, I'll hardly be able to buy a second hand car with it".
The rep said "Well you don't have to sign up with us, but it's compulsory, so you have to sign up with someone" and I begrudgingly put my mark on the form.
I had no idea STA was a front for the metal workers union (I've never been in a union) and as it turned out I was correct, STA no longer exists, it got taken over by Superannuation Australia, and HIH went down the tube taking thousands of contributers' savings with them.
Then not too far down the track the govt changed the rules regarding retiring at 55, so that you can't claim till 65, and want to up it to 72.
I've never had any faith in the scheme and would prefer to spend my money on something (like land) that will be of value when I'm old, so I've done my utmost to keep my money out of super funds hands. Because as far as they're concerned it their money, not yours.
If Donald Trump is so close to the Ruskis, why couldn't he get Vladimir Putin to put novichok in Xi Jjinping's lipstick?
It's gone way Off Topic and is now about the Cost of Housing? 