Making the annuity bullshit real
There are so many things that the people are gasping in disbelief. The small payout and the payout age at 85. Both seem so unreal and irrelevant. What the govt should do is to address this bullshit seriously and come out with something that is real. The $300 is definitely not going to be enough and either you provide for a reasonable sum, or might as well don't provide at all. With inflation and the depreciation of money, in 30 years time, the minimum for subsistence existence could be $1000 pm. Then at that age, you need life supporting equipment, weekly or monthly medical checkup, annual checkup or overhaul. Other than the subsistence allowance, the medical part could easily be another few hundred thousands. How much then is enough? Half a million or one million? If this problem is real and we need to address it as a real problem, then the bullshiting must be realistic. And the 85 years payout age. This is a joke.