Younger Aussies given a su­per boost in re­tire­ment

‘It’ is not an ap­pro­pri­ate movie to play dress up

The Courier-Mail - - NEWS -

YOUNGER Aus­tralians will have more money in their re­tire­ment kitty af­ter an over­haul of the su­per­an­nu­a­tion sys­tem that will see them bet­ter off later in life.

One of the na­tion’s largest su­per­an­nu­a­tion funds, Aus­tralianSu­per, will be scrap­ping au­to­matic in­sur­ance for new mem­bers un­der the age of 25, which is tipped to de­liver them an ad­di­tional $9000 come re­tire­ment. Un­der the changes, new mem­bers can “opt in” to in­sur­ance rather than au­to­mat­i­cally re­ceiv­ing it when they sign up. It will not be of­fered to ex­ist­ing mem­bers.

The In­sur­ance in Su­per­an­nu­a­tion Work­ing Group had iden­ti­fied bal­ance ero­sion as a key con­cern. For Aus­tralians kick­start­ing their ca­reers, pay­ing costs in un­nec­es­sary in­sur­ance in their younger years would hin­der their bal­ances come re­tire­ment, Rose Ker­lin from Aus­tralianSu­per said.

The over­all sav­ing for a mem­ber join­ing the fund at age 15 is $637 and this amount will ac­cu­mu­late in com­pound in­ter­est to about $9000 by re­tire­ment at age 65.

Glen McCrea, from the As­so­ci­a­tion of Su­per­an­nu­a­tion Funds of Aus­tralia, said funds were “ad­just­ing in­sur­ance ar­range­ments in or­der to get the right bal­ance”. SO­PHIE ELSWORTH PO­LICE are warn­ing of a so­cial me­dia-in­spired clown craze af­ter a teenage girl was chased and grabbed by three peo­ple wear­ing clown masks on Saturday night.

In an in­ci­dent thought to be in­spired by the re­lease of the movie re­make of It, based on Stephen King’s novel, 16-yearold Ras­tana Baker said she was scratched on the neck af­ter pulling away when she was grabbed by a per­son in a clown mask in Perth’s south­ern sub­urbs.

The teenager said she was walk­ing to a friend’s house when a car stopped and three peo­ple got out wear­ing clown masks and dark cloth­ing.

“When I did turn around, I saw the wigs and clown faces. They were run­ning in and out of the bushes, run­ning up to me and mak­ing clown noises,” Ms Baker said.

She said when she tried to run away, one clown grabbed her by the shoul­der. Af­ter break­ing free, she ran to her friend’s house and called po­lice.

“For peo­ple who are out there just do­ing this for fun, it is not for fun and it can ac­tu­ally trau­ma­tise some­body,” Ms Baker said.

Po­lice said peo­ple con­duct­ing such pranks may be com­mit­ting crim­i­nal of­fences and could be charged.

It is about a de­monic clown.

TROU­BLE BREWS: Po­lice hold a woman in For­ti­tude Val­ley’s Safe Night Precinct. Pic­ture: AAP/ Mark Calleja

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