Industry super fund bandits

nonrecourse

Well-Known Member
Don't you just love seeing those multi-million dollar feel good advertisements spruking industry super on TV every night.Too bad your personal super account after fees and taxes went backwards.Maybe you could ask the trustees to refund their directors fees:rolleyes:

Kind Regards
non recourse
 
nonrecourse said:
Don't you just love seeing those multi-million dollar feel good advertisements spruking industry super on TV every night.Too bad your personal super account after fees and taxes went backwards.Maybe you could ask the trustees to refund their directors fees:rolleyes:

Kind Regards
non recourse



That "From little things Big things Grow" song seriously annoys me.



But yeah, the best advertisement would be to show positive returns when everyone else was haemorrhaging members life savings.......




HESTA delivered a positive return during the dot.con crash......
 
It should be mandatory for super funds to disclose their previous 5 years results on their application forms.
 
I note that since the GFC the number of updates from my super funds has dropped dramatically
 
Maybe they should do a Humpty Dumpty routine to advertise super?

No... on second thought, that's probably a bad idea :(
 
Unfortunately 80% of mine and my wife's super contributions for the last financial year, were lost by the industry fund we are in :-(

Not enough to start up a SMSF though.
 
Byron said:
Unfortunately 80% of mine and my wife's super contributions for the last financial year, were lost by the industry fund we are in :-(

Not enough to start up a SMSF though.
If 80% was lost why on earth would you continue? I'd rather lose the money managing myself than give those blood suckers one shekel.

Kind Regards
non recourse
 
Byron said:
Unfortunately 80% of mine and my wife's super contributions for the last financial year, were lost by the industry fund we are in :-(

Not enough to start up a SMSF though.
Got $10,000 in super? It's worth starting up a SMSF!
 
Nugget said:
nonrecourse said:
Don't you just love seeing those multi-million dollar feel good advertisements spruking industry super on TV every night.Too bad your personal super account after fees and taxes went backwards.Maybe you could ask the trustees to refund their directors fees:rolleyes:

Kind Regards
non recourse



That "From little things Big things Grow" song seriously annoys me.

You don't have to travel far for irony these days. What coked up advertising idiot thought to use that song.
Would be a good argument for starting your own SMSF if they played the whole thing

Gather round people let me tell you're a story
An eight year long story of power and pride
British Lord Vestey and Vincent Lingiarri
Were opposite men on opposite sides

Vestey was fat with money and muscle
Beef was his business, broad was his door
Vincent was lean and spoke very little
He had no bank balance, hard dirt was his floor

From little things big things grow
From little things big things grow

Gurindji were working for nothing but rations
Where once they had gathered the wealth of the land
Daily the pressure got tighter and tighter
Gurindju decided they must make a stand

They picked up their swags and started off walking
At Wattie Creek they sat themselves down
Now it don't sound like much but it sure got tongues talking
Back at the homestead and then in the town

From little things big things grow
From little things big things grow

Vestey man said I'll double your wages
Seven quid a week you'll have in your hand
Vincent said uhuh we're not talking about wages
We're sitting right here till we get our land
Vestey man roared and Vestey man thundered
You don't stand the chance of a cinder in snow
Vince said if we fall others are rising

From little things big things grow
From little things big things grow

Then Vincent Lingiarri boarded an aeroplane
Landed in Sydney, big city of lights
And daily he went round softly speaking his story
To all kinds of men from all walks of life

And Vincent sat down with big politicians
This affair they told him is a matter of state
Let us sort it out, your people are hungry
Vincent said no thanks, we know how to wait

From little things big things grow
From little things big things grow

Then Vincent Lingiarri returned in an aeroplane
Back to his country once more to sit down
And he told his people let the stars keep on turning
We have friends in the south, in the cities and towns

Eight years went by, eight long years of waiting
Till one day a tall stranger appeared in the land
And he came with lawyers and he came with great ceremony
And through Vincent's fingers poured a handful of sand

From little things big things grow
From little things big things grow

That was the story of Vincent Lingairri
But this is the story of something much more
How power and privilege can not move a people
Who know where they stand and stand in the law


From little things big things grow
 
I thought the song used had a pretty heavy sexual undertone myself.

From little things, big things grow is the name of a pron0 movie out there somewhere, I'm sure of it.
 
Funny i said to myself last night, why don't they use some of the money they are using for the commercial to grow peoples money instead of losing it?

my current (work) super has not made any money, but it is money the employer puts in so i don't really care too much, it is only 1 1/2 years old.

Have not checked my rolled over super but will be pissed off if it has not grown.

Possum
 
Funniest thing ever was last years Riverfire. Sunsuper, which is technically an industry fund, but does not participate in the marketing group that does the from little things adverts (they only represent those industry funds that pay to join), and competes with them, sponsored Riverfire.

And what was the very first song played? From little things ....you almost heard someone ripping the CD out as the song cut half way through.

I wonder how much that sponsorship cost? And did it help someone retire early?
 
Byron said:
Unfortunately 80% of mine and my wife's super contributions for the last financial year, were lost by the industry fund we are in :-(

Not enough to start up a SMSF though.

Mate! Start your own... you only need $1 to start.

It is a joke that you need squillions.... do it all yourself... yeah there are some start up fees, okay... maybe I should say you need $500 to start....

DO IT!
 
possum said:
Funny i said to myself last night, why don't they use some of the money they are using for the commercial to grow peoples money instead of losing it?

my current (work) super has not made any money, but it is money the employer puts in so i don't really care too much, it is only 1 1/2 years old.

Have not checked my rolled over super but will be pissed off if it has not grown.

Possum

:mad:

IT IS YOUR MONEY...... and you say you don't care???

Oh dear... :rolleyes:
 
That money is part of your salary, it's yours. It's seen as part of your package, but more importantly it's yours to live on.

It's not given to you free.

I think the problem in the whole country is that people don't realise it's theirs. If I picked up your wallet, saw $100 in it, and helped myself to $9, you would probably punch me.

By not caring about that super you are letting someone take money out of your wallet. It's going to maybe feel like real money when you retire, but it's real money now!

To get control of bandits, don't take the money off automatically. Make everyone put money into an account for super manually, and they will see how it goes and pay attention when it's wasted.
 
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