It’s increasingly clear that Greece’s woes are partly to blame on its public pension system — over generous, over subscribed and now underfunded.
Like the rest of the western world, Australia also has an ageing population and some sections of the population are reliant on the government pension.
James Coyle from AustralianSuper tells 3Q that our superannuation system keeps our economy strong and individuals protected. Super is not only a tax-effective way to save, it also reduces pressure on government funding because less people are solely reliant on the age pension.
Although our super savings took a beating in the GFC, superannuation savings of $1.3 trillion helped Australia through the GFC via indirect investment to help Australian companies raise equity and lessen dependence on the overseas debt market.
Read Essential's ongoing research on the public response to Covid-19.
In this week's report:
- Performance of Scott Morrison
- Performance of Anthony Albanese
- Preferred Prime Minister
- Views towards re-electing the federal Coalition government
- Party trust to handle issues
- Importance of Australia’s international reputation
- Scott Morrison’s impact on Australia’s international reputation
- Views towards Australia’s international reputation