Comments by "ChineseKiwi" (@ChineseKiwi) on "How Successful Private Pensions Work in Australia" video.

This comment is in reality outdated with the new introduced changes last year. The multiple Super accounts thing is being cleaned up via the introduction of 'stapling', which forces workplaces, if the employee doesn't provide it themselves, to contact the ATO to get the Superfund the employee is with, reducing multiple accounts, Not to mention the streamlined online of consolidating those accounts, which is a few clicks / 5 minutes work these days. The account grows due to it being invested regardless of the amounts on it, not to mention the changes to protect accounts from fee erosion, inactive low-balance super accounts will be transferred to the ATO who will proactively consolidate it on their behalf.
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The multiple Super accounts / employer opening Super accounts thing is being cleaned up via the introduction of 'stapling', which forces workplaces, if the employee doesn't provide it themselves, to contact the ATO to get the Superfund the employee is with, reducing multiple accounts, Not to mention the streamlined online of consolidating those accounts, which is a few clicks / 5 minutes work these days.
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It is more 5.5% ROI.
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@robertsaget9697 The riskier 'high growth' portfolios in these Austrlaians schemes have returned an average of 8.9% (5.5% minus inflation) per year for the last 29 years. That includes the GFC, where it dfropped 29%. Not to mention for most, it is a diverse range of investments, including equities, infrastructure and some bonds, It is not all the stock market. 'lol' in reality to you who fails to understand how these work.
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the 15% input tax is ONLY if your volunteerily contribute more. The intital employer contribution is tax free. And people do this to lower their taxable income, because otherwise, that money would be charged at 32.5% via income tax. Don't comment if you don't know basics like this.
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