Superannuation funds deducting huge fees on millions of lost super!

Discussion in 'Superannuation' started by Emanance, Oct 20, 2012.

  1. Emanance

    Emanance New Member

    Joined:
    Jun 19, 2012
    Messages:
    811
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Australia
  2. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

    Joined:
    Feb 26, 2010
    Messages:
    9,306
    Likes Received:
    80
    Trophy Points:
    48
    Location:
    Gone Fishin'
    There's been a lot of interest in superannuation of late.

    Particulalrly the Self Managed Super funds and those of accounts of baby boombers close to retirement which are heavily biased in cash. Both Government and the 'investment heavyweights' want to get their hands on that cash!
     
  3. nonrecourse

    nonrecourse Well-Known Member

    Joined:
    Jul 11, 2011
    Messages:
    1,544
    Likes Received:
    58
    Trophy Points:
    48
    Location:
    Melbourne Australia
    Superannuation funds deducting huge fees on millions of lost super accounts

    As the federal government prepares to gradually increase (steal from employers) the rate of compulsory superannuation from 9 per cent to 12 per cent, beginning next July, the superannuation minister, Bill Shorten, is understood to be looking at ways to safeguard (weasle word for more theft) the money in these lost accounts.

    The Treasury analysis, obtained by News Limited, reveals a person aged 30 who has lost track of an account containing just $1000 is having an average of $169 a year deducted in insurance premiums alone. At that pace, the lost account would be drained dry in less than six years.

    In one instance, Treasury found a fund deducting as much as $312 a year in insurance premiums.

    Our hard labour mates and pink treasury officials are upset because their view is only they are entitled to steal the sheeples money

    altruism is the gospel of enslavement

    Kind Regards
    non recourse
     
  4. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    21,199
    Likes Received:
    4,057
    Trophy Points:
    113
    Location:
    昆士蘭
    Elective altruism has it's place I believe. Not that it's got anything to do with Super :lol:
     
  5. Fykus

    Fykus Member Silver Stacker

    Joined:
    Aug 13, 2011
    Messages:
    562
    Likes Received:
    12
    Trophy Points:
    18
    Location:
    Port Macquarie, NSW
    I read something yesterday that the government is going to be "looking after" peoples lost super and holding it all in one big account for them. Looks like theyve come up with a way to solve the budget deficit it seems.
     

Share This Page