But I also think when it comes to the pension, I would love to see the pension at an affordable cost of living for people that we can comfortably support them in society.

Yeah, it's not that.

Sadly, it's not.

And for those that weren't, and again, this goes back to super, but if you have been on the age pension for some time and you didn't have the benefit of our super system, which is a really good system, then your maximum age pension is not covering even a modest retirement in terms of living costs.

So that's a real problem because obviously the cost of living over time has increased at a far greater rate than what the age pension has.

And if you are, I guess, receiving a part pension, you've got a bit of super, it's a little bit better.

And the super system right now is designed so that the 12% that people are getting from their wage or on top of their wage... as a young person entering the workforce should be enough by the time you hit retirement age to not have an age pension at all.

How do we maximise our age pension if and when we get there?

How important is that?

Well, clearly, very important.

Nowadays, there are lots of ways to check your returns against the average.

And even ASIC or APRA will make underperforming funds right to you.

So there's always an index or an average.

I think the index for this last financial year is about 9%, so somewhere between 9%, 9.5%.

And for the last three years, we've had really good returns, around 10%.

Was that

042-998-5985 if you want to jump in.

Yes.

My view is that the purpose of super, and I don't think it's just my view, it is the purpose of super, is to provide an income for you when you retire.

Yep.

And it was introduced way back, I think, in the 80s or compulsory super in the 90s when it became clear we couldn't rely on an age pension anymore.

So the purpose of super is to provide an income in retirement, to reduce our reliance on the age pension, to improve our financial security later in life, to have something to fall back on to access if we need it.

And I guess importantly, to invest our money in our best interests yeah so to get the best returns for the relative risk that we're willing to take yeah okay so that's what i think the purpose of super is uh it's not designed i don't think in my view to fund government spending to solve our housing crisis and yes we do have one and yes it needs to be fixed uh and yes it's a government problem well in the main it's a government problem but i don't think it's our problem to uh invest our super in social housing so um we don't need our super to deliver on social policy outcomes and we don't i think want our super to finance projects that investors don't want to touch yes so that's what i think super should and shouldn't be

Well, for