Superannuation Discussion + market volatility

[Flashback]

I dont know the family K finances but it doesnt sound like you are in the group I feel are getting too cushy a deal.

Money in super is tied up for a long time, and the overall principle helps the nation enormously. So there should be some tax benefits.

But I personally feel that people with $2M+ (maybe even lower) in super should be contributing more to the nation's tax revenue than they are. 0% on realised capital gains even outside of a pension account is
the particular thing that stands out to me as approaching a rort.

It seems strange to me that someone working in Woolies is paying a fair bit of tax when someone with a pension income of >$100k a year can be paying none at all

Spending the tax raised wisely is an entirely different issue. Wouldn't object to an income tax cut if it meant we ended up with surplus tax

That's why I like (I think?) the UK approach which is opposite to Aus in many ways. Tax free (and some tax breaks) going in, but then when you draw down you earn and pay tax as per any age. You do get the chance to take an up to 25% lump sum cash payment when you reach the pensionable age.

Mrs FB is a civil servant so has a (rare) DB scheme. I have a SIPP (similar to SMSF in ways) for myself, so we have a nice hedge going on. We're happy with where we are, albeit neither of us can touch our respective pensions for some time! So, a combination of non-pension investments helps with that.