Superannuation Discussion + market volatility

[MELso]

Just so you realise that politicians want to get their grubby hands on to super:

Jacinta Allan wants to tap super for next wave of government projects

The Victorian premier says the $4.3 trillion superannuation sector is based on workers’ money, and they should get the benefits of more schools and hospitals.

www.afr.com

Well, super's regulated federally, so there's no way the pollies would redirect workers' savings into their own pet projects and boondoggles that will underperform. Oh wait...

 

[cove]

Thanks @Steady the CFMEU is a big concern for all of Australia I think.
Now SIL tried for a pension but is still ineligble based on assets.

 

[Brissy1]

Just so you realise that politicians want to get their grubby hands on to super:

Jacinta Allan wants to tap super for next wave of government projects

The Victorian premier says the $4.3 trillion superannuation sector is based on workers’ money, and they should get the benefits of more schools and hospitals.

www.afr.com

Quoting Allan from that article :
" She said her fiscal strategy would focus on growth and not spending cuts to tackle Victoria’s debt"

Well that's comforting

 

[MELso]

Quoting Allan from that article :
" She said her fiscal strategy would focus on growth and not spending cuts to tackle Victoria’s debt"

Well that's comforting

Spending cuts require being mean to at least some public servants and public sector employees (both core constituencies of the current Victorian government).

The Silver review of the Victorian Public Service should have been released a while ago, and would have spurred discussions about cut backs. But why make awkward decisions about where to cut when you can raid super instead to fund projects (and just as importantly, have people discuss that instead)?