Will the Aus. gov. attempt to 'expropriate' funds from private Super?

Discussion in 'Superannuation' started by Roswell Crash Survivor, May 11, 2012.

  1. nonrecourse

    nonrecourse Well-Known Member

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    Fair?:lol::lol::lol:

    Governments being fair ? Mate I have got some prime property to sell you situated in the Simson desert, Absolute beach front property

    Kind Regards
    non recourse
     
  2. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    As much as I love going off topic, back to the original topic of the thread:

    Do I think the Aus. gov. will attempt to 'expropriate' funds from private super? Short answer, No.

    Caveats:
    - They WILL attempt to tap large super funds to pay for pet infrastructure projects by changing the rules/incentives. X% must be in AAA-rated Govt bonds for example but there are many, many alternatives to obtain the same outcome.
    - They WILL continually change the rules so that I will be very surprised if I will be able to access "my" super in any way that is significantly different from a mandated annuity.
    - If they ever do actively expropriate, then I believe and pre-existing SMSF's will be the last that the Govt. will target as (from my understanding) it will require much broader changes to how trusts work which they will be hesitant to go that route. Instead they will effectively shut down the ability to set up new ones and target the industry funds instead.
     
  3. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Some very good predictions in this thread made back in 2012! I found it when looking for discussion on current super changes that have been proposed. Good job, stackers!

    This one got almost everything right:
    And this proposal has come up again:
    The "mandated annuity" comment below was prescient given a recommendation this year to do exactly that:
    The 2015 recommondation is discussed here: http://forums.silverstackers.com/to...nnuation-payments-for-retirees-could-end.html

    Extract:
     
  4. Ag bullet

    Ag bullet Well-Known Member

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    they could release my funds if they like. but she has a point- it'll still be just "sitting around"....in the form of gold bullion!
     
  5. Mintaka

    Mintaka Active Member

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    If I was 55 I would be getting my super and converting it to hard assets like real estate or pm. I simply don't trust government and never have.
     
  6. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    That only works for people born before 1960 unfortunately :(
     
  7. Golightly

    Golightly Well-Known Member Silver Stacker

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    They may as well spend it.
    Once cash rate hits below 2% the funds have no chance of getting there required 8-9%

    May as well use the money to fund the corrupterments latest larceny
     
  8. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    I'd rather it funded my own debauchery.
     
  9. Golden ChipMunk

    Golden ChipMunk Well-Known Member

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    The ruling keep changing, how can you trust this thingz?
     
  10. billybob888

    billybob888 Well-Known Member Silver Stacker

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    Maybe one day you can only purchase "safe assets" ie Australian government bond" with your super. Much like the american social security funds - made up entirely with US government bonds, AKA government spent the money and gave them IOUs
     
  11. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    Have you been eating scones in the back pews of the church again?
     
  12. ask&learn

    ask&learn New Member

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    Hmmm, interesting discussion over the years. And now we have reached the point where the federal govt wants to restrict super balances to just $500k. Once all those "extra" billions are released from the safety of super, does that mean this money will be available to be "accessed" by the govt from savings/investments in an event of a national financial emergency?

    Just asking...
     
  13. JulieW

    JulieW Well-Known Member Silver Stacker

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    I think this is an inevitability now. Can't have some citizens being privately wealthy when the have-nots are stuck on the pension.

    Bye the way, have a look at Deutschebank's warnings on pensions if it should go under.
     
  14. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Pretty much inevitable at this point.
     
  15. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    Anyone know of the government health industry super?
    A very healthy paying one at that.
    Many hospital employees are now retiring with millions in their super ....................taxpayer funded.
    Wonder why it was a life time career? Because of super entitlements.

    The scheme is no longer available for the new entering the industry, it is now a 2 tier system but those that were lucky enough to be employed prior to the change will still enjoy their remaining working life with more than double the 9%.

    I wonder if the attempt to expropriate funds also include government employee super funds?
     

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