As an older Australian, I believed the government, and saved and placed my money in Superannuation, over the past nearly thirty years.
In six short years I now face the threat of losing a large percentage of my savings in government tax.
This is to pay for failed schemes such as the Pink Batts fiasco, the rollout of computers to schools at exorbitant prices, inefficient infrastructure projects such as school buildings at 10 times the cost if done privately and the NBN which will shortly be scrapped at huge loss.
Take my advice and do not put any money in to Superannuation beyond that which is mandated by legislation.
If Government offer you incentives to increase your contributions, do not do so.
The present ALP Government, and future ALP Governments within your lifetime, will raid your Superannuation account to pay for hare brained schemes.
Pay off your mortgage, and save.
But avoid Superannuation.
It is a honeypot for inefficient governments.