It's funny to hear the 'Don't take out your super' warnings.

Super funds are just like banks.

They will collapse if too many people draw money.

The funny part is them making out that they are 'concerned' about people's nest eggs.

_________________________________________________________________________________________________

Cosmologically speaking we are all little more than a bacterial film on a soft rock hurtling through an unimaginable void.
Don't take it all too seriously.
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It's funny to hear the 'Don't take out your super' warnings.

lyndal1838
Honored Contributor

It is very sound advice.....take it from someone who is well past retiring age and has no super.

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It's funny to hear the 'Don't take out your super' warnings.

Yes, given the shrinking taxation base, super will provide an income in the days to come when government pensions will be unaffordable. I was mainly laughing at the fake altruism.

_________________________________________________________________________________________________

Cosmologically speaking we are all little more than a bacterial film on a soft rock hurtling through an unimaginable void.
Don't take it all too seriously.
Message 3 of 26
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It's funny to hear the 'Don't take out your super' warnings.

My understanding is the there is a limit to how much one can take out - also for those that have little makes sense to use "early access"  funding elsewhere which would help the economy and reduce boredom 

 

https://www.finder.com.au/coronavirus-early-access-to-super

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It's funny to hear the 'Don't take out your super' warnings.

They held up the offer of cashing in, early, so I inquired as to what would need to be done...

And, to be honest, I'm too old to go leaping through the number of flaming hoops that they held up...

It can sit there, slowly ticking over, and be a nice surprise for my wife, once I''m gone.

Spoiler
In spite of her often telling me that I'll be the end of her, she still insists that she'll outlive me, ha ha...

๐Ÿ™‚

 

Message 5 of 26
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It's funny to hear the 'Don't take out your super' warnings.


@ecar3483 wrote:

They held up the offer of cashing in, early, so I inquired as to what would need to be done...

And, to be honest, I'm too old to go leaping through the number of flaming hoops that they held up...

It can sit there, slowly ticking over, and be a nice surprise for my wife, once I''m gone.

Spoiler
In spite of her often telling me that I'll be the end of her, she still insists that she'll outlive me, ha ha...

๐Ÿ™‚

 


You indicate intent through your mygov account , ( is disturbingly straight forward , 2 or 3 clicks) then wait for further notifications

 

( Think might be helpful linking the ATO to your account)

Message 6 of 26
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It's funny to hear the 'Don't take out your super' warnings.


@rogespeed wrote:

@ecar3483 wrote:

They held up the offer of cashing in, early, so I inquired as to what would need to be done...

And, to be honest, I'm too old to go leaping through the number of flaming hoops that they held up...

It can sit there, slowly ticking over, and be a nice surprise for my wife, once I''m gone.

Spoiler
In spite of her often telling me that I'll be the end of her, she still insists that she'll outlive me, ha ha...

๐Ÿ™‚

 


You indicate intent through your mygov account , ( is disturbingly straight forward , 2 or 3 clicks) then wait for further notifications

 

( Think might be helpful linking the ATO to your account)


Funnily enough, a lot of people don't have MyGov accounts. I suspect those who have enough money in superannuation to draw down on would be amongst that cohort.

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It's funny to hear the 'Don't take out your super' warnings.

MyGov also covers Medicare, the ATO and several other organisations.

So it's not just those claiming any sort of benefit who would have an account.
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It's funny to hear the 'Don't take out your super' warnings.

Oh for the good old days when workers where smart enough to frugally save something for their own retirement, rather than relying on their employer to do the heavy lifting for them.

 

While superannuation in itself is only one of the red tape burdens employers face on behalf of employees, when you add it to all of the other stuff that has been lumbered on employers you can see why permanency has been replaced by years of casual employment. Its also the main reason myself and many other past employers no longer employ people. ( we used to employ up to four people in our small businesses. ) 

 

Things such as paid maternity leave ( Whats that all about ? You have a baby you make the necessary preparations. Your employer shouldn't have to pay for your lifestyle decisions ), extra leave loading during holidays ( again " what the *** ", you expect to be paid more while you are on holidays than when you are actually doing something for your employer ? ) and long service leave ( you get a paid, giant holiday for months while your employer just keeps slaving away keeping the business going while you are away ). Not to mention redundancy pay. Again whats that all about. You have already been paid for the work you have done for the company. Your services are no longer required, so why do you get a massive pay out at the end. It just doesn't make any sense.    

 

Workers have a responsibility to look after themselves. You do the work, you get paid fairly for what you have done, that should be the end of it !

 

The employer is not an extension of the social service they are a business. Social service outside of the work environment is a government responsibility, not the employers responsibility. 

Message 9 of 26
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It's funny to hear the 'Don't take out your super' warnings.

You must be in the twilight of your life if you were running a business prior to leave loading. That came in in about 1973.

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