Fixing our 'not so super' system

Let’s face it. Our current super system is great if you’ve managed to stash away some cash during the ‘golden contribution years’ but, from a national perspective, it’s got a lot of holes.One answer is to scrap what we’ve got and start again. That discussion we’ll leave for next week’s blog post. This week we'll focus on fixing the system we’ve got.Firstly, let’s take a look at some of the key problems:Distorted incentives. The current system provides more of an incentive for a high-income earner to save. I don’t think this is because we’re overly generous to high-income earners, but...

Let’s face it. Our current super system is great if you’ve managed to stash away some cash during the ‘golden contribution years’ but, from a national perspective, it’s got a lot of holes.

One answer is to scrap what we’ve got and start again. That discussion we’ll leave for next week’s blog post. This week we'll focus on fixing the system we’ve got.

Firstly, let’s take a look at some of the key problems:

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