Cuts to Super: what they could mean for you

Nowadays people want the pension to cover the following; Holidays every year, large TV. Mobile phone, computer, going out etc. etc. we must not forget the pension is meant to live modestly, Not in luxury. But if we are smart enough and want all those things,than We should work and save harder when we are young and not expect the Gov. To keep us. 

People seem to forget that it's NOT the Government that pays the 9.5% Super contribution but the employer has to pay this money from his profits ON TOP of the wages, the Workers Compensation policy and the Payroll Tax (just because the employer provides the worker with a job and decent wage). Unions and other entitlement pushers need to be reminded that if the employer hasn't got enough profit to pay all these demands, somebody will have to miss out on a job and then what? Haven't we priced ourselves out of some industries already - Metal industry, car industry, manufacturing, textile etc etc etc..? Wake up and realise that when foreign companies, some owned by their govenments, there won't be all the lurks and perks that the Unions blackmail some of our employers for. 

I cant believe I voted for Abbot, I thought he was going to be a great PM, how wrong I was. The next election will be the first time I vote against the Liberal Party. 

I see a different point. When aged pensions were introduced in Australia in 1901 this country was the first to do that. Then there was resources with no limiters (think green house emissions), sheep, wool, wheat, manufacturing... One would find work in a week. Then superanuation was employee contribution matched or some times doubled by employer. Meaning one must show willingness to save. Today many people leave on credit, no smart choices there, but they expect governments to top up their life style. In today's world employers are asked to 9.5% for their employees' SG while we have 7% unemployment. Should the compulsory super stopped alltogether and the employer's money saved spent to employing more staff unemployment disappear overnight. More taxes are collected and less benefits are paid. Saying all that, I like to see more opportunities to work and save as I please then whinge for something that is not mine. 

I've always voted Liberal and had great hopes that this Lib Gov would be better than the last Labor debacle. How wrong I was!!! 

I am getting fed up with being duped. I have worked since I was 15years old except for a couple of years when I had my daughter. Now aged 66 and can't retire with a pension as my husband is younger than me. I was told by Centrelink that if I gave up work I would receive approx. $150 per fortnight. So much for working hard and paying my taxes all my life, If this is not discrimination, I don't know what is. Now they are taking away our increased super. 

This is really not such an issue. For a start we have lost nothing. You can't lose what you never had. We have been told for years that relying on the employer contribution to Super is not enough regardless what the rate was. On the figures in this article those on over $100,000 would only need to contribute less than $20 a week into super to make up the difference and that does not take into account compound interest or the fact that you can salary sacrifice and be taxed at only 15% on that $20. For the low paid the "loss" is $10 a week and the same sacrifice rules apply. We have to get away from expecting others to look after us, It is our responsibility to fund our retirement. So take responsibility and make the effort. 

I am of the opinion that it is time for the Clive Palmer Party to consider the people that have worked very hard to make this country a better place are entitled to a life after working to enjoy the fruits of their labour. I am now working 3 part time jobs just to keep our head above water due to my husband being unable to keep constant work/income, it is hard and the government want to make it harder for us to gain just a little bit. Teachers Aide 64yrs MrsPat Giammarco 

By reading some of the comments it appears to me that some of those commenting must be either very rich and do not need their super or simply are uneducated about superannuation. As a nearly 60 year old working all my life I now have no choice but to work till I am 70 years old as the Govts have not kept increasing the pension with correct CPI increases and now are reducing any superannuation I was planning to save. All my money has gone into educating my children and raising them. The Liberal Government needs to rethink the reality of saving for a retirement because many people will now have no choice but to live off the Government into their old age with whatever pension they are able to get. My 65 year old husband now has no tax breaks thanks to this Government even though he is of pension age and has no choice but to keep working to save for retirement. 

So are we