Ken's column: Gov't has misled people to think pot raiding is risk-free
02 Jun 2016
A national newspaper article with the headline ‘Pension Pot Gamble’ caught my eye recently, so I thought it worthwhile to revisit the vitally important subject of pension freedoms.
The article highlighted that in Australia, where pension freedoms started 20 years ago, a massive 40 per cent of pensioners are now running out of money before they are 75 years old.
These days, 75 is no age at all, so it is not difficult to imagine the human misery which lies behind that cold statistic. Too many people, who in their 50s had looked forward to a comfortable retirement, are now bereft of their extra income and left to struggle on whatever state pension the government of the day decides it can afford.
To read Ken's article in full, please click here