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How to Fix the Broken U.S. Retirement-Savings System
- ggm 5y agoAustralian compulsory superannuation started in 1992 at 3%, stuck for years at 9% and is on 10% heading to 12% across the board. Tax free on retirement, reduced tax going in. It was instituted by a Labor government and almost universally runs via industry 'superfunds'. Voluntary contributions are permitted over the compulsory part to a ceiling. Very few Australians don't benefit from it, temporary workers do incur some costs for no benefit and the very low paid lose net present value benefit.