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231 superannuation part 1

Dev Raga Personal Finance

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Are You Eligible to Get Paid Super?

Super is not designed to pass on wealth so the government wouldn't want you to hoard money into super for the heck of it and transfer it to your children. Remember what drives the economy spending. Hoarding money doesn't drive the economy which is what spending super money is all about. When you've accumulated that super you've got to spend it which is a good thing which the government wants you to do in your retirement. So you keep contributing to the economy in your old age and most of it stay off the pension system which is meant to be for people who really need it.

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