12 October

Super is a time bomb. Shifting retirement funding to the finance industry will likely have the same outcome as financialising anything else - a complete disaster. As a society, we would have been much better off keeping the old pension system, and if you wanted a 'lifestyle' retirement, you funded it yourself, not at the expense of taxpayers. As always, the only people who will do really well out of super will be - you guessed it - the boomers. And the finance industry. The mess will be left to the rest of us to clean up, as we work into our 70s and get a pittance.