I agree about some of the schemes that have been set up by...

  1. 10,521 Posts.
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    I agree about some of the schemes that have been set up by accounts and dodgy advisors but Labor's superannuation policy that allowed an industry to be set up and flourish that is against any semblance of fairness and equality,they set the Industry to financially benefit the Labor party in the face of falling union membership,while many union funds are performing well they are typically the funds that have a growing young membership and a very small percentage of members in pension phase other industry are not performing well because of falling membership and a growing level of members in pension phase.
    Only time will tell how union funds will perform over the long term as many of their assets are not listed and hard to value, when assets have to be liquidated to pay pensions as the draw down percentage increases,the only fair system would be to have a universal pension and no tax deductions but the politicians would be against that because we would all get the same pension instead of the outrageous payout they get now.
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