26 March

Last year the financial services sector took $31 billion in fees, from super. That’s almost as much as the age pension costs, and it’s growing. What could go wrong? If the government hadn’t been so keen to privatise retirement saving, the public coffers would now have an extra $2.5 trillion. Instead it’s being siphoned off by financial sharks, globally. And you have no control over it, the money is locked away. (P.S. Paul Keating, average life expectancy rising doesn’t mean we can ‘all expect to live longer’. And he’s the architect of Australian super.)