Re: Charles v Pension Funds
At the moment a person gets 9% of his/her wages payed into super. Say the income is $800 a week then $72 will be payed into their fund. If your lucky to be able to work for 30 years
then at that rate you would have $112320 + interest paid into the fund.
Now at the moment we are paid $632/fortnight. For 10 years that =$164320.(government aged Pension)
You would need to have approx. $106 a week paid into your fund.
I know some will say that your wages will go up over the 30 years & thus giving you a higher amount of money..I agree...I was just showing that, You need a long term good paying job to achieve a super pension that will give you a comfortable life style. This was roughly calculated only for a ten year pension!!!