23-05-2023, 04:22 PM
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Cost of living crisis forces 1.4 million Aussies to get second job
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23-05-2023, 05:28 PM
Just wondering do Aussie ppl have something equivalent to our Spore CPF system in place and is mandatory?
23-05-2023, 07:06 PM
(23-05-2023, 05:28 PM)sgh Wrote: Just wondering do Aussie ppl have something equivalent to our Spore CPF system in place and is mandatory?
Yes, they do…however the funds are managed by private companies, you can only withdraw at age of 65…it is called Superannuation Fund, you dunt have to contribute if you dunt want but your employer will contribute 6-9% per month…unlike our CPF the prices of the funds will go up and down like mutual funds and need to pay monthly admin fee, quarterly admin fee and yearly admin fee
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24-05-2023, 02:49 PM
Is that not double the taxes which fills more coffers? Whats wrong with collecting more monies?
24-05-2023, 02:57 PM
(24-05-2023, 02:49 PM)red3 Wrote: Is that not double the taxes which fills more coffers? Whats wrong with collecting more monies?
Unlike last time people can survive on social payments, nowadays things get so expensive that social payments are also not enough to cover the high living cost, rental cost jumped 40% in the past few months.
Aussies usually will stay at home collecting social payments but not anymore…they are forced to find jobs to make ends meet
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