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Speaker 1: This is the Fitsy and Whipper with Kate Richie podcast.

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Speaker 2: Caught up with an old teacher the other day from

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Speaker 2: primary school. I do love like a teacher. When you

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Speaker 2: get a good teacher, they are a great mentor and

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Speaker 2: they do mean a lot in your life. You look

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Speaker 2: back and you go because usually only get them for

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Speaker 2: one UK. That's the thing. You get a good teacher,

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Speaker 2: then you move on to another teacher the year after,

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Speaker 2: so it's always you're always yearning to go back to

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Speaker 2: that teacher. But this teacher is retired. Now I wanted

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Speaker 2: to catch up and I thought why not. And we

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Speaker 2: had a great day. A couple of coffees went out

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Speaker 2: for lunch and he was telling me this is unbelievable.

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Speaker 2: I didn't know this, but in Australia and the government

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Speaker 2: put this forward. It was the State super scheme. Right.

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Speaker 2: So when he started out as a when he started

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Speaker 2: out as a teacher, he was early twenties, right, And

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Speaker 2: he said, if I could, if my principal at the

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Speaker 2: time was still alive, I would kiss him because the

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Speaker 2: principal said to him, convinced him to sign up for

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Speaker 2: the government States Super scheme. Now, this is not it's

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Speaker 2: not around anymore. It finished in nineteen eighty six. But

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Speaker 2: basically this was before super annuation was even introduced into Australia, okay.

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Speaker 2: And if you signed up for it, the longer that

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Speaker 2: you worked as a teacher, the more pension that you

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Speaker 2: got when you retired. So it was a scheme to

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Speaker 2: keep teachers around, okay. So he worked as a teacher

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Speaker 2: for over forty years before he retired, Kate, And now

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Speaker 2: he said, when I worked so long as a teacher

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Speaker 2: that when I finished, I was getting seventy percent of

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Speaker 2: my final pay, but every year that goes up with

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Speaker 2: the cost of living. He now gets fifteen hundred dollars

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Speaker 2: a week pension for the rest of his life. I

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Speaker 2: love this so much, Suber. It was taken out in

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Speaker 2: nineteen eighty six because the government realized we're paying too

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Speaker 2: many people and it's too much of an incentive. And

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Speaker 2: he said that there's been other countries that had this

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Speaker 2: this incentive as well, and Greece was one of them

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Speaker 2: and they basically went broke grease. Oh my god, all

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Speaker 2: the teachers became kings because of all the pensions. Now,

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Speaker 2: now this is working for an Australian government department, right.

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Speaker 2: So it might be social worker, it could be another department.

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Speaker 2: But if you signed up and a lot of people

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Speaker 2: didn't sign up, they're a bit freaked out by it.

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Speaker 2: I think there was a certain amount that you had

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Speaker 2: to put away here and there.

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Speaker 3: Also, when you're starting out too in your career, you

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Speaker 3: kind of think, well, every dollar, like you can't really

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Speaker 3: see the future back then.

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Speaker 2: I think it's a great incentive though, because you get

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Speaker 2: people to stick around and you know what, then they're

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Speaker 2: actually when they're finished, because I mean it happens with

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Speaker 2: politicians as well. If you get two terms in your

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Speaker 2: local electorate day and don't you get a pension for

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Speaker 2: the rest of your life?

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Speaker 1: You do? I think you get a driver for the

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Speaker 1: rest of your life if you serve two terms.

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Speaker 2: It's probably first thirteen twenty fourteen. If these little pensions

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Speaker 2: that you've heard of, or schemes or people, the money

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Speaker 2: that people are getting even when they've retired from working.

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Speaker 1: There was an article getting around last week because the

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Speaker 1: guy was doorstopped. He was walking down the street and

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Speaker 1: it was like one of those guys on TikTok and

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Speaker 1: he goes up and he says, hey, what's your name?

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Speaker 2: Good. I'm Darren.

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Speaker 1: What do you do? What do you do for work?

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Speaker 1: Down he goes, I'm a teacher. The guy goes, okay,

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Speaker 1: full time work. How much are you on and he

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Speaker 1: said one hundred and seventy thousand dollars?

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Speaker 2: Is he? Is he a principal? Is he?

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Speaker 1: I don't know, no, but I thought that sort of

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Speaker 1: bucks the trend of what you normally hear regarding, of course,

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Speaker 1: teachers salaries. I mean, obviously they're underpaid, you know, for

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Speaker 1: the work that they do for other people's kids in

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Speaker 1: the hours. They're long hours as well. Teaching is a

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Speaker 1: big ask.

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Speaker 2: And my teacher, he said, you know what, I went

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Speaker 2: through the GFC. I went through all those crashes in

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Speaker 2: the global economy, and I was looking at friends around

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Speaker 2: me who were really struggling with superannuation. But he said,

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Speaker 2: I always knew I was fine with get fifteen hundred

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Speaker 2: dollars a week. And now his life is he's very

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Speaker 2: close to his family. But he said, you know, my

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Speaker 2: life now is just booking a holiday away every year.

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Speaker 2: I like to go overseas somewhere different every year.

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Speaker 3: Well, it's nice to hear stories like that because we're

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Speaker 3: used to hearing you know, I'm just just getting by stories.

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Speaker 3: You get to the end of it. It is and

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Speaker 3: I think too, as we have parents who are aging you.

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Speaker 3: Ideally you see them get to the end of their

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Speaker 3: life for the golden years, and you want it to

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Speaker 3: be easier, not harder.

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Speaker 1: They deserve a kicker, said, I've got in my contract

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Speaker 1: here that I get.

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Speaker 2: Some the driver you just worried about. You didn't know

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Speaker 2: about the attention.

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Speaker 3: You just wanted the drive.

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Speaker 1: You had three CDs. Once I've left the company.

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Speaker 2: Well, I'm hoping CDs come back because I've still got

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Speaker 2: some beauties. Gabriel will kill me if she comes back

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Speaker 2: and has a new hit song. I Am going to

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Speaker 2: make an absolute fortune.

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Speaker 1: Whippa with Kate Ritchie is an over podcast. A great

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Speaker 1: shows like this downloads and overplayer via the app Store

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Speaker 1: or Google Play.

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Speaker 3: An overplayer