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IS YOUR “SUPER” AT RISK ?

Tax-paying Australian workers, self-funded retirees and pensioners are at risk of losing their superannuation savings, if either a Liberal-led or Labor-led Government is elected on July 2.

Labor and Liberal Governments stripped funds from the former National Pensions Fund (over a 40 year period from the 1950s to the 1980’s) before diverting Fund reserves into Consolidated Revenue, effectively winding up the Fund.

Now, the National Superannuation Scheme is under similar threat – with two State Governments (one Liberal and one Labor) recently taking similar action to draw funds from State Public Service schemes, to fill State budgeting “black holes”.

The Queensland State Government today (14/06/2016) confirmed a $4 BILLION raid on State public servants’ superannuation savings to fund projects it can’t otherwise provide.

Despite calls for assurances, workers, retirees, and pensioners have NO guarantee that the same won’t happen to their national superannuation funds, as recent Australian governments (led by both major parties in recent years) slip deeper and deeper into debt, and continuing deficit budgeting of their own making.

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So now, people fear that just as the National Pensions Fund eventually fell to the greed of government, to leave today’s Australian pensioners without a secure future………so too could people’s reliance on their superannuation reserves, and hopes.

Financial and economic analysts have estimated that the amount pilfered from people’s former Pensions Fund savings could amount (in today’s values) to TRILLIONS OF DOLLARS.

However, we’ll never, ever know – because a precise accounting for the pilfered millions over the past 4 to 5 decades has never been released publicly by our governments – and probably never will!

Yet even though the former Pensions Fund no longer operates, to benefit today’s pensioners (as planned), the national tax levy of 7% set in place in the 1940s and 1950, to cover it, is STILL levied and still collected (by the Commonwealth) from today’s taxpayers.

That is a national taxation rort that should no longer be tolerated.

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