No Rocket , I have to disagree. The present taxation arrangements for pension phase are too generous, and unsustainable. I have done a fair amount of work on my own figures, and taking into account the tax I didn't pay during accumulation, and the tax I am not paying now , it would have been a lot cheaper to let me suck on the teat. And there are a lot like me coming behind. For me, withdrawals of concessionally derived money taxed at marginal ,with a rebate to reflect tax paid. ie as it was before the Howard changes[not franking credits, the post 60 freeby]. They would only be taking back something they shouldn't have given me in the first place. I'd just count myself lucky I've had it for as long as I have. Leaves post 60's with a big tax free income[80 grand plus for a couple], but a reasonable level of progressive taxation. It is also very difficult to game , and does preserve horizontal and vertical equity in the system. Something like this doesn't get done, we will deserve the crowd with pitchforks and flaming torches coming for us eventually.
