4 ms·
Compulsory super isn't directly analogous to the sovereign wealth situation, because the government can't dip into it.however, it receives tax revenues from gro
by robbiep 13y ago
Compulsory super isn't directly analogous to the sovereign wealth situation, because the government can't dip into it.however, it receives tax revenues from growth in super investments, which are now nearly 1.5 Trillon, and because most workers who will retire over the next 15 years should have enough super to live out their lives on (hopefully combined with home equity, especially if you live in a capital city), then the government doesn't have the pension demands which are bankrupting states in America.
It's not an ideal situation, much more free market, but it's one of the greatest moves by an Australian government ever in my opinion