Clarification/Follow-up by paraclete on 01/12/05 4:25 pm:
Yes Tom, it is possible to both set up your own Superannuation Fund and to direct the level of risk for the investment in a corporate fund. Thus the risks can be spread between Bonds, Stocks, Property, Cash as would be prudent to do so. You can put it all into growth or into cash if you want to. Most people here have money in a corporate fund, with investment managed by fund managers. What is not possible is to get access to the funds before a certain age.

Clarification/Follow-up by tomder55 on 01/13/05 6:18 am:
Clete , we have private retirement accounts now called 401 K anr IRA accounts that operate simularly . Is the account that you are talking about come out of a payroll deduction to the gvt. ? A worker in the US now is not given a choice .We have to fund our social security . The problem is that the gvt. manages(mismanages) the funds and we have no say about how it is invested . In fact the buffoons put it in the general fund so in fact it becomes just another federal tax .The system worked great for the last generation . They took from the system alot more than they ever contributed .That will surelty not be the case with the new generation of workers . I am fully supportive of partial privatization but I am concerned that some folks are not savy and could lose out to huckster investment schemes (there are many of them in the financial world )or to other high risk investments.