1 00:00:00,360 --> 00:00:03,480 Speaker 1: Jersey and Amanda gam Nation. 2 00:00:03,640 --> 00:00:07,039 Speaker 2: Spoke to doctor Christian Balis, one of Australia's leading economists, 3 00:00:07,080 --> 00:00:11,040 Speaker 2: earlier this morning about Superannuation's thirty third anniversary of this 4 00:00:11,119 --> 00:00:13,960 Speaker 2: compulsory super and it's just gone up to twelve percent. 5 00:00:14,400 --> 00:00:16,880 Speaker 2: It's said that most Australians will retire this well, young 6 00:00:16,920 --> 00:00:22,279 Speaker 2: Australians will retire with three million dollars superannuation. It's said 7 00:00:22,320 --> 00:00:24,640 Speaker 2: that our superannuation scheme is the envy. 8 00:00:24,360 --> 00:00:25,079 Speaker 3: Of the world. 9 00:00:25,520 --> 00:00:29,320 Speaker 2: That this saves you from relying on the government. And 10 00:00:29,360 --> 00:00:32,720 Speaker 2: as we're an aging population, less and less facil service 11 00:00:32,800 --> 00:00:35,560 Speaker 2: is going to be available to us as we get older. 12 00:00:35,600 --> 00:00:37,559 Speaker 2: I think we need to rely on ourselves and this 13 00:00:37,680 --> 00:00:40,040 Speaker 2: saves as much as you'd be tempted to want the money, now, 14 00:00:40,560 --> 00:00:44,280 Speaker 2: this saves you from yourself. It stops you spending before 15 00:00:44,320 --> 00:00:45,960 Speaker 2: you need it when you're going to be older. The 16 00:00:46,080 --> 00:00:47,360 Speaker 2: tractors would say this. 17 00:00:47,680 --> 00:00:50,159 Speaker 3: According to Christian, a lot of people would argue that 18 00:00:50,200 --> 00:00:51,880 Speaker 3: super is not the best thing for them because they 19 00:00:51,920 --> 00:00:53,720 Speaker 3: would like to have their money here and now. A 20 00:00:53,760 --> 00:00:55,560 Speaker 3: good example of that is people would like to go 21 00:00:55,600 --> 00:00:58,120 Speaker 3: and buy houses with their souper instead of having it 22 00:00:58,160 --> 00:00:58,600 Speaker 3: locked up. 23 00:00:59,280 --> 00:01:01,560 Speaker 2: What do you think we'll we put it too early 24 00:01:01,640 --> 00:01:03,600 Speaker 2: as superannuation. Does it passed the pub test? 25 00:01:04,000 --> 00:01:04,200 Speaker 4: Yeah? 26 00:01:04,240 --> 00:01:07,560 Speaker 1: I think it depends on everyone's situation with everyone's in 27 00:01:07,600 --> 00:01:10,920 Speaker 1: a different situation. As if you're working and you can 28 00:01:10,959 --> 00:01:13,720 Speaker 1: afford to yes, if you're not working, then you're probably 29 00:01:13,800 --> 00:01:14,440 Speaker 1: can't afford to. 30 00:01:14,760 --> 00:01:18,160 Speaker 5: No, it doesn't I pulled out the twenty k during 31 00:01:18,200 --> 00:01:20,399 Speaker 5: COVID to put towards a home deposit. I would have 32 00:01:20,440 --> 00:01:22,640 Speaker 5: taken my It was the best decision I've ever done. 33 00:01:22,680 --> 00:01:25,319 Speaker 5: And I was only thirty. So if I could have 34 00:01:25,360 --> 00:01:27,240 Speaker 5: done it Lauren sooner, Yes, I. 35 00:01:27,240 --> 00:01:28,920 Speaker 4: Believe that if it does past the pub test. 36 00:01:29,360 --> 00:01:30,039 Speaker 1: Yes, Whilst it. 37 00:01:30,000 --> 00:01:31,800 Speaker 4: Would be nice to have your money now to put 38 00:01:31,840 --> 00:01:34,000 Speaker 4: a deposit on a home, how's that kind of stand 39 00:01:34,000 --> 00:01:36,399 Speaker 4: out when you retire at sixty five? Yeah, you're having 40 00:01:36,400 --> 00:01:38,680 Speaker 4: bricks and order, but having cash at sixty five is 41 00:01:38,680 --> 00:01:41,119 Speaker 4: going to be much more better than relying upon the government. 42 00:01:41,319 --> 00:01:44,559 Speaker 6: No, because there's no regulation that you have to pay 43 00:01:44,640 --> 00:01:46,800 Speaker 6: that if they go on a payment plan. I had 44 00:01:46,880 --> 00:01:50,800 Speaker 6: my previous employer who's over five years behind him paying Super. 45 00:01:51,320 --> 00:01:53,360 Speaker 6: I will never see that money. He's in his sixties. 46 00:01:53,400 --> 00:01:54,040 Speaker 6: It's not good. 47 00:01:54,240 --> 00:01:55,720 Speaker 4: Oh, I think you're past the pub test. 48 00:01:56,040 --> 00:01:58,480 Speaker 3: Like Amanda said, I need to save myself from myself. 49 00:01:58,640 --> 00:02:00,480 Speaker 4: My parents are on the pension and they can survive 50 00:02:00,520 --> 00:02:00,800 Speaker 4: on it. 51 00:02:00,800 --> 00:02:03,720 Speaker 3: But they can live on an early rag. I don't 52 00:02:03,720 --> 00:02:06,480 Speaker 3: think I can survive, but a caavey it should be 53 00:02:06,560 --> 00:02:07,880 Speaker 3: that I can access a little. 54 00:02:07,640 --> 00:02:09,200 Speaker 4: Bit of it to try and buy a house. 55 00:02:09,000 --> 00:02:11,400 Speaker 3: If I need to. 56 00:02:13,200 --> 00:02:14,440 Speaker 4: Thank you for all your calls.