Because the Government has given a good term of forwarning,

the total cost of the SGC will just be added to the cost of goods

& services, thereby making sure that the employee ultimately

pays for his/her own retirement.

I don't think there's much of an alternative. As retirees we all want a reasonably comfortable lifestyle. So we just have to pay for it during our working lives. The pension comes from tax revenue, so either retirement income goes up or taxes go up.

For several years I was a payroll administrator. One of my hardest jobs was trying to get employees, especially those under the age of 35, to realise that SGC was their money and should be managed as one of their most important financial assets. Most said that since they wouldn't get it until they were 'old' they weren't interested in making extra contributions. The increase in the SGC is a good thing because as I learned, the majority will not contribute extra on their own.