Wednesday, October 15, 2008

NZ Superannuation Fund fraud

Think of a superannuation scheme or pension fund that you join - or rather, are forced to join.

Your contribution to the fund varies according to your income. The more you earn the more you pay.

What you receive from the fund depends on one thing: How long you live.

If you don't reach age 65, you'll get nothing, your inheritance will get nothing, in fact your contributions will just have gone to someone else.

If you do reach 65, you'll get - whatever the government thinks everyone who reaches that age will get. If you spent your life on welfare or low income jobs paying next to no tax you'll get the same as a successful entrepreneur who has spent many years on the top marginal tax rate.

You wouldn't choose such a fund now would you?

So why do you vote for political parties that set it up, want to maintain it and even want to use it to play political games as if it is a sovereign wealth fund it can throw at "investments" it makes.

5 comments:

ISeeRed said...

You write some great columns - less shrill than No Minster, more pragmatic than NotPC. I don't know why you're getting more comments. Maybe all readers agree with you! Still, you deserve more traffic and comments IMO.

ISeeRed said...

...why you're NOT getting more comments... *sigh*

libertyscott said...

Thank you Tony, I appreciate it. I'm not even consciously targeting a "market"

ISeeRed said...

You're welcome, but my name isn't Tony. I'm an ex-pat Kiwi in SE Asia. Does someone else here already use this handle?

libertyscott said...

OOps apologies, thought you might be this leftwing chap.

http://tonymilne.blogs.com/i_see_red/