The age pension might be around when you retire in 25 years time, but if it is, you won't want it because it will be tantamount to living on the poverty line, and even if you do get it, the amount of hoops you'll have to jump through, you won't want to.

Plus, I can see that your house will be taken into account, because by then, even your average house in any capital city will be worth a million dollars or so, so it brings with it the cachet that "oh, you're a 'millionaire', you can afford your own retirement", plus they keep eyeing off your superannuation for their own means, such as "public-private partnerships" for infrastructure projects and mandating investment in those....no thanks.

Those people who relied on others to look after them were either very short-sighted or amazingly trusting. I don't intend to rely on anyone except myself for my retirement.

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....And what if you are middle age and realise you don't have enough super? How the heck do you build it up when the government has dropped the maximum amount to $25000 for all? How can the government say that a 25 year old earning super is no different in situation to a middle age person? A female middle age person who had to take time out to raise a family. Something is wrong with this system..... I do not not feel secure.......

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Amy - you can still contribute up to $100k a year in non - concessional contributions. All things considered, super still provides very generous tax concessions, no matter what your age.

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