Superannuation

Press, Volume CVI, Issue 31153, 1 September 1966, Page 14

Superannuation

Sir, —Aptly-named “Stink Bomb” might reflect thus: in equity, he should receive in Government pension the total of his contributions plus an equal amount for interest. This is usually accomplished in four or five years. From then on the law gives him the pension for the remainder of his life; a very good investment for a compulsory saving whtch he would never have made (probably) without compulsion. He is now a charge on the taxpayer, but is still better off than others on fixed incomes who are equally affected by inflation. By integrating universal superannuation and age benefit, the Government has partly overcome this position with equity to pensioners, widows, those on fixed incomes and the low-pensioners, while safeguarding the economy of the country.—Yours, etc.. Z. August 30, 1966.

Sir.—By resorting to figures of his own compilation, appealing to prejudice, and using the red herring of universal superannuation, “Don't Moan” attempts to evade the issue. It can be restated thus. Having accepted payment for the provision of superannuation allowances, is the Government morally justified in meeting its obligations by making payment in debased currency? If it is, then every vendor who has been paid in advance for a daily supply of milk is also justified in bilking his customer by watering the milk. —Yours, etc., STINKBOMB. August 31, 1966.