<blockquote><b>Quoting The (super kinky) Master:</b>" That's what we've been told and we're happy with that. That's why the government has mandated that employers ... [snip!] ... at $500,000 by the time I retire if I stay with the same company my entire career and don't add anything to it voluntarily."</blockquote>




Curious about the superannuation. When can you access the money? Where does the money sit while you are working and contributing?

<blockquote><b>Quoting TheNuge:</b>" <blockquote><b>Quoting The (super kinky) Master:</b>" That's what we've been told ... [snip!] ... about the superannuation. When can you access the money? Where does the money sit while you are working and contributing?"</blockquote>




The money sits in private superannuation companies and you can access it with either proven financial hardship, disability that doesn't allow you to keep working or at 65. If you pass away it goes to whoever you leave it to in your will

<blockquote><b>Quoting The (super kinky) Master:</b>" <blockquote><b>Quoting TheNuge:</b>" <blockquote><b>Quoting The (super ... [snip!] ... disability that doesn't allow you to keep working or at 65. If you pass away it goes to whoever you leave it to in your will"</blockquote>




Since i cant sleep, I read about a sleepy subject.  
From what i read, Australians get a means-test retirement payment, superannuation plus other private monies and investments that they have set aside.

Your superannuation sounds similar to our 401k and 403b systems. These are voluntarily set-up by employers. Usually both the employee and the company contribute to this. Like your superannuation, this money is put at risk in investments via "managed fund" managers. Here, many employers offer this nice benefit but its mostly bigger employers. With the economic downturn, employers have been less generous and have opted to give the employees compensation from raises instead of retirement money ifntheybcan afford to provide additional compensation. 401ks and 403bs are very regulated so they are only accessed for retirement or hardship, like your fund.
Smaller companies don't participate in 401Ks often. Many opt to set-up IRAs (individual retirement accounts) for their employees. Both forms of rein,net savings have great tax advantages especially if the employee isn't considered a high-earner.

Here in the US, people and companies into social security INSURANCE that is meant to be there when and if their own retirement plans fail. It is NOT means tested and is guaranteed by the government even though the government has taken from the "set-aside" SS fund. Most, not all people and companies participate in social security insurance.
So, in the US, the overwhelming majority of people get social security.
Some get pensions from their private or government job.
Some can draw from their 401Ks that employers set-up and likely contributed to and helped manage.
Some draw from IRAs set-up by employers or themselves.
And of course, retirees access specific funds that they put away for their golden years.

Here, unless you live under a rock, you are hammered with info about the importance of setting up retirement funds and participating in your employers 401k, if offered. Many choose to not participate in their early years of working and play catch-up later. That is what I did. Also, I was allowed to borrow against my 401k to buy my home.

The reason I'm writing this is to show anyone reading it that companies and the US government help people to retire with nice income BUT, individuals must show the initiative to plan for their own future.

Ok, I learned a bit from that and in think I'm sleepy enough to go back to sleep for a little while. Lol

Quoting SpaceCowgirl:" The people who are mad are the most likely to speak up and vent. I have no reason to make a thread that ... [snip!] ... to make a thread that says, "I can't believe I went to the doctor today and didn't have to wait at all and had no co-pay!""

my co-pay is 2.65 per visit (state healthcare since my work doesn't offer health care unless you work 40+hrs a week for a year). Which I don't consider too bad but it gets expensive when you have one doc appt after another but I can't complain about it because it is my health that I'm looking after and the kids' health that I'm looking after. Oh and I never have a long wait at the doctor, well except the specialists but that is because most of them are surgeons too and if there is an emergency they get called into that first.

<blockquote><b>Quoting P3RvYmCp3rv:</b>" my co-pay is 2.65 per visit (state healthcare since my work doesn't offer health care unless you work ... [snip!] ... specialists but that is because most of them are surgeons too and if there is an emergency they get called into that first. "</blockquote>




I have tricare which sucks. Yeah, it's free, but you have to wait weeks for a doctor appt or months for a specialist. At least in the winter if you have a cold or flu, you can call a symptom hotline and they will prescribe you meds over the phone.

Quoting khigh:" <blockquote><b>Quoting P3RvYmCp3rv:</b>" my co-pay is 2.65 per visit (state healthcare ... [snip!] ... least in the winter if you have a cold or flu, you can call a symptom hotline and they will prescribe you meds over the phone."

yea see summer is our time where it is a bitch to get into specialists.   All the kids are out of school so yea /sigh.

Gosh this thin is still going?! Lol