Exorbitant executive salaries may get a trim under a Federal Government plan to deal with the "extreme capitalism'' at the root of the global financial crisis. 

Prime Minister Kevin Rudd today revealed the government will work with the Australian Prudential Regulatory Authority (APRA) to bring fat-cat pay packets under control. 

Mr Rudd believes better rules are required to "rein in any executive greed''. 

He told the National Press Club that the "failure of extreme capitalism'' had forced governments to prevent the financial system's collapse. 

"You've got to act at home and you've got to act abroad on this. 

"This is not just a question of fairness and perceived fairness in the system, it goes actually to the kernel of the incentive structures around risk-taking. 

Rudd Targets Fat-Cat Salaries 

talking of perceived fairness ….. 

As individual superannuation fund accounts bleed thousands of dollars, Kevin Rudd, Wayne Swan and other MPs enjoy a super boom. 

While most people rely on super accounts driven - or retarded - by the vagaries of various markets, many federal and state MPs' payouts are guaranteed. 

Judges, governors, soldiers, essential service workers and some public servants also get super deals.  

So, while the average Australian's fund has lost $5500 in the past year - a loss of 11 per cent - experts say Prime Minister Rudd's taxpayer-funded pension has grown by tens of thousands of dollars - up 12.5 per cent.  

Deputy Prime Minister Julia Gillard's annual pension when she retires has grown by 9 per cent in a year and Premier John Brumby will be 6.25 per cent better off when he retires, experts say.  

The politicians' pensions are bullet-proof - they cannot lose them, regardless of the parlous state of share or property markets or other rollercoaster derivatives.  

Taxpayers make up any shortfalls.  

MPs Enjoy Superannuation Boom 

and busy sharing the perceived fairness ….. 

Retiring New South Wales MP Reba Meagher is walking away from parliament with an annual pension of more than $120,000 a year. 

The superannuation payout, which will be close to a backbencher's salary, is effective immediately, The Australian reports.  

Ms Meagher, 40, announced her resignation from parliament on Saturday after deciding not to contest the health portfolio in the cabinet reshuffle.  

The former member for Cabramatta, who served as a minister in a variety of portfolios from 2003 to 2008, can choose to receive the pension in a lump sum or monthly payments.  

NSW Greens MP Lee Rhiannon said yesterday large pension payouts added to public cynicism about the political process.  

and rattus ….. …..

a Pension for life: from $235,000 a year from date of leaving parliament. 

Reba Shows How To Retire At 40