| enlightenedmaster said: it can be tried and will work but Govenrment pension fund will surely beat it any day
corporation can lose money,government can put ceo's other in jail but do nothing if money is once lost |
The government can put a guarantee on the money for those situations (meaning, in the situation in which the corporation squanders the money, the government will provide the money as a replacement; gives the government more motivation to properly regulate to prevent the problem in the first place, too).
But beyond that, like I said, proper regulation is more than sufficient. Corporations have extensive restrictions on what they can do with superannuation money. It's not like in America with the repeal of Glass-Steagal and related issues. Super funds don't actually "own" your money at any point - they manage it, but beyond the standard charges, they can't actually access it directly. They just instruct where to invest, etc... and it's pretty much required that they diversify the investment, to minimise the risk. And then all the strict regulations apply on top of it. Even if the company collapses, your Super is safe.
It's certainly not perfect, but I'm not aware of any country with a better system. And that most certainly includes America, where your purely-public system is bankrupting you.
In fact, Australia's a good demonstration on the possibility of proper balancing of public and private (although there are certainly issues, they're mostly down to the government not doing it right) - not just Super, but also our Health system, our Education system, etc.
