Superannuation Discussion + market volatility

[SYD]

Anyone over 150yrs. Apparently there are a few over in the US?

Some US pensions pass onto dependents - Widows and children.

Famous example of someone receiving a Civil War pension!

Irene Triplett - Wikipedia

en.wikipedia.org

 

[Quickstatus]

I may not have 10 years but point taken.

Worst thing to do now is to move funds into higher return (potentially) but riskier (definitely) investment mix in order to chase a retirement target

 

[CaptJCool]

Anyone over 150yrs?. Apparently there are a few over in the US?

Ideally if Superannuation is successful as a pension replacement, then the peak numbers should be reducing and also shifting toward the later age groups. Are you seeing this trend?

There’s a couple of things to mention

The raw figures for inbound are relatively flat

At the same time the potential eligible Australians who turn 67 are going higher and higher (census data)

That means the % of the total is dropping because the big cohort of baby boomers is getting to 67…

And because the vast majority of both genders worked we are passing through the “must quit your job when married” “stay at home mother” generations who had no superannuation

We are living Longer so this affects the over 90s. The surviving spouse situation means many on inheriting their partners share fall foul of the MUCH LOWER asset thresholds with twice the amount of assets now in one name not two.

Apparently there’s also a rule that if you go into aged care and don’t rent the house nor sell it that after 2 years they cut Orf age pension

The net impact is the new entrants appear to be around 33-36% of those who turn 67 (as compared historically 80%)

This is roughly meaning as each person who’s on age pension falls foul of surviving spouse or passes away , new entrants (from a much bigger pool) are only replacing the departed. Thus the % of the total grows smaller and smaller