With the recent introduction of Australia’s first pension roll-over fund, many pensioners are wondering how much their money is worth.
While it has been a boon for some retirees, many others are not so fortunate.
The Australian National Pension Scheme (ANPS) is a $20 billion fund which was set up in April 2019 by the government.
The fund aims to provide a minimum of $6,600 a year for everyone in Australia, including workers and their children.
The funds principal aim is to protect retirees from the worst of the Australian financial crisis.
But it is also being criticized for being too dependent on an increasing number of people in retirement, many of whom are still working.
For many, the new fund is the start of a long process of living a life of security.
As it’s been rolling over for years, ANPS has had to pay out $1.3 billion in dividends to its investors.
But there are some concerns about how it is being managed.
The government has said that the money raised from its rollover will be used to help the fund’s employees, but not to pay for their retirement.
This has led to questions over the financial stability of the fund.
The ANPS board has defended the policy.
In a statement, the ANPS said it will pay out the dividends it raises, but “will not use the proceeds for any other purpose”.
However, some have questioned whether the fund is actually responsible for the money that has been raised.
In July, it was revealed that ANPS had received a $1 billion loan from the Australian Government.
In the statement, ANP board member Dr David Brown said that “the ANPS funds cash-flow is based on the assumptions of the government and will remain unchanged for as long as the Australian taxpayer maintains a sufficient supply of ANPS assets.”
Brown added that the ANP will continue to invest the cash raised by the fund, “with the expectation that the Government will continue its participation.”
However, many questions remain unanswered about the future of the ANPs investment.
The Government has yet to comment on whether it will continue funding the fund after the fund has been rolled over.
It is not the first time that ANP has received criticism.
The ALP’s predecessor, the ALP Labor Party, also had a pension fund.
The ALP pension fund was set-up in 1997, and has had a history of controversy.
It was set aside at $2.8 billion.
In 2015, the fund was bailed out by the taxpayer, with $4.2 billion going to it.
A separate government fund also invested in the fund until last year.