Loading ...What will they use this crash as an excuse for? Ever since they introduced compulsory superannuation (pensions, to you yanks and poms) they’ve been tinkering with it, taking more taxes, making you pay more, making self managed super funds more expensive and complicated to administer. My guess is that governments around the world, as bond yields rise, will simultaneously claim that super/pension funds are far too volatile to be a reliable source of retirement funds but don’t worry, the government is here to save you and will now make it compulsory for funds (from Vanguard down to the mom and pop variety) must hold 5% of their portfolio, increasing to 30% over the next five years, as government bonds for a safe, reliable annuity. This 30% maximum will, of course, never ever be increased. Nor of course (again) is this anything to do with providing govts with an increasing form of cheap finance.
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