Whether you like it or not, having a retirement fund means you are a shareholder. So how much do you know about the stock market?
Margaret Thatcher sought to convert Britain from a nation of shopkeepers to one of shareholders. Compulsory superannuation and low rates – until recently – on traditional bank deposits have converted most Australians into accidental investors.
Beginning in the 1980s, retirement arrangements changed from defined benefits (an inflation-indexed pension based on your final salary, paid by employers or government in return for regular contributions) to defined contribution schemes (at retirement you receive your and the employer’s payments, plus investment returns).
