They Still Want More

Another review of the superannuation system should ring alarm bells for those intent on controlling their retirement savings.

They Still Want More
Photo by Brett Jordan / Unsplash

When governments want to justify a decision they've already made but have yet to release, they organise a review or consultation.

It's usually a sham process undertaken by an external body to seem as credible as possible. In that respect, they rent the names of the big four consulting firms, using your money to justify their future policy.

Sometimes they get the 'independent' public service to do their bidding.

That's what was announced by the government yesterday.

Treasurer Jim Chalmers announced a consultation process would be undertaken by the Department of Treasury looking into how retirees draw down on their retirement savings after stopping work.

How we can trust the forecasts of the Treasury when they get almost every budget number so wrong is beyond me.

To the casual observer, nothing is alarming in the proposal.

However, a seasoned cynic who understands how politicians manipulate events would make a different assessment.

Here's what the 'consultation' will likely reveal.

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