ASIC to suffer trillion-dollar headache as retirement savings grow | adelaidenow
Australian’s superannuation savings are set to grow to $3 trillion in the next decade or so.
Current retirees are all too well aware as to how quickly their retirement savings dwindled in the wake of the global financial crisis, leaving the government to pick up the tab by way of increased pension payments.
ASIC’s growing headache to ensure the money is there when needed is understandable; unfortunately our complex financial system too often erodes savings instead of increasing their value.
With negative returns for three of the past five years by most managed funds, a 5% return on a bank term deposit with government guarantee of the capital, is not to be disdained.
Categories: Superannuation, Trading opinion
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