With every change of government comes the inevitable tweaking of superannuation rules. Separating super changes from election hopes of politicians might improve the system. Each time changes are announced the following happens –
- Government and Media disseminate facts, commentary and confusion.
- Super Funds all commence incentivized education campaigns.
- Most young people don’t give a fuck.
- Confidence and Planning is undermined.
Planning to have enough money to spend until you die is a hard enough task to forecast, maybe it’s time to consider having a single point of authority for all superannuation related decisions separated from the government of the day.
Or is it as simple as creating a more prominent, dedicated consumer authority for disseminating the purpose and rules of superannuation in plain english.
All we know is that super fund balances undulate and all other components are up for change.