Workers in many countries, including Australia, are forced to gamble with their superannuation and retirement incomes. Most Super funds invest heavily on the stock market. Contributors are often required to choose between; maximum growth with attendant risk, balanced investment, defensive stocks or cash. Workers thus have to make a judgement call, which in these days of high volatility (as the financial gurus like to call risk or probable loss) is a horrible choice to have to make. It is gambling with one’s future. Gone are the days when retirement pensions were simply that. Now they are caught up in the manic capitalistic frenzy which seems to define the contemporary world. Whether a retiree lives a comfortable existence or faces extreme poverty, depends on the throw of the global dice!
Superannuation – compulsory gambling?
Writer and author. Published novel as eBook and print version. - Brownout - a story of life and doom - set in Philippines, Australia and USA. Also published a non fiction work about grief, "Waiting for a Miracle: Life in the Dead Zone" as an eBook and print version. Another non fiction work is, "From Brexit to Brazil via Hong Kong, China, Russia and the USA" available through Amazon, Barnes & Noble, Kobo etc. This book is a collection of essays that deal with the most pressing issues of our time, including Covid-19 and its political and social ramifications. View all posts by badjohn7