How is your Super performing

[allover]

I am in the number 2 fund, previously with Westpac under performing fund, the difference is amazing
It was only recently the Banks were lobbying the present government with some sympathetic ears to ban the industrial and Union funds, but the Royal Commission has put the brakes on that one

[fandtm666]

after the crash and our super got smashed we decided to setup
our own self managed fund and bought a property so always
increasing in value and no chance of loosing the lot again.

[VroomVroom]

+1 for SMSFs , i told the buttholes at AMP to go screw themselves a long time ago.

It sucks how the govt keeps forcing compulsory super down our throats and at the same time they allow thousands of scum sucking reffos to immigrate here without super and live on centrelink benefits for life???

[enf]

+1 for SMSFs , i told the buttholes at AMP to go screw themselves a long time ago.

It sucks how the govt keeps forcing compulsory super down our throats and at the same time they allow thousands of scum sucking reffos to immigrate here without super and live on centrelink benefits for life???

Couldn't agree more....although I think compulsory super was one of Keatings better policies, the inequity of the refugee benefits to that of Australian taxpayers sux.

I am one of the lucky who have Commonwealth Super on a defined benefit. I'm not swimming in loot, but I get by.

[exited]

I'm with a industry fund but scored a breakthrough by timing the market pre/post GFC and have been playing safe since then. Wouldn't mind looking at a SMSF but the rules keep getting changed by brainfart pollies who can access their super more easily than any of us

[enf]

I'm with a industry fund but scored a breakthrough by timing the market pre/post GFC and have been playing safe since then. Wouldn't mind looking at a SMSF but the rules keep getting changed by brainfart pollies who can access their super more easily than any of us

Both major parties desperately want to access the superannuation of Australians. And they continually move the goalposts.....arseholes..........

[shred]

I was in various 'for profit' super funds for more than 20 years. Somehow, they never seemed to get ahead - in fact they barely kept up with inflation.

I changed jobs 12 years ago and (in spite of the superannuation choice legislation), my super "had" to go in to an industry fund. At the time, I deeply resented this and intended to regularly roll over the money from the industry fund to my other super fund. The funny thing is that the industry fund has ALWAYS out-performed the for-profit fund by a large margin. During the GFC, the industry fund didn't get ahead, but it didn't go backwards either - while the value of my savings in the other fund plummeted.

Some years ago, I finally got the message and rolled everything in to the industry fund and I don't intend to ever go back to having super with one of the "three letter" for-profit funds again. They're just parasites, making huge profits from MY money, paying middle men trailing commissions and throwing the occasional sheckle in my direction, hoping it'll keep me quiet. They've cost me a motza over the years.

The trouble is that governments of all flavours simply cannot keep their greedy, thieving hands out of our retirement savings and keep fiddling with the rules. I was particularly disturbed to hear Bill Shorten quoted a few years ago saying something along the lines of "Australian's superannuation savings represent a great resource for creating nation-building infrastructure". Great. A future Labor government borrowing our retirement savings and blowing the lot. Just what we need.

[Godzilla]

I have always been with Australian super.

I currently have it under my own shares investments, about 75 % Aussie shares and the rest on O/S Shares, originally it was under the default balanced setup.

For the first 20 years while working for others i watched my super go nowhere while being in balanced, once i took over and started working for myself and moved it into shares i watched it grow at record rates.

I think another 5 -6 years of work should leave me with enough to retire on.

[ol' boy]

Super??? Im just trying to avoid my own funeral. Fark the banks

[porkop]

Both major parties desperately want to access the superannuation of Australians. And they continually move the goalposts.....arseholes..........

I have said many times when the discussion moves to this topic that the government will eventually legislate so as THEY will manage your super for you and pay you a weekly payment from it.

You may think I am paranoid, just watch!!!

[shred]

You may think I am paranoid, just watch!!!

It wouldn't even be the first time they've done a "bait and switch" on retirement income.

[gamve]

Superannuation is the Governments gift to Insurance companies. Why would you want to be part of that.
So you can retire on a shit income and not get the government pension you have worked for all your life.
It's nothing but a SCAM cooked up by big business and help themselves Governments.

[DB44]

Superannuation is totally ####ed in Australia. Just gives a lot of people with no idea a lot of money and a lot of influence. Fees are often ridiculous, and the returns more often than not are shocking. Members interests are put last. Politicians can't resist meddling frequently so certainty is non-existent and long-term planning virtually impossible. A lot of people are in for a miserable retirement. The way things are going the average person will be lucky to have enough super to keep the power on.

[trash]

I was in various 'for profit' super funds for more than 20 years. Somehow, they never seemed to get ahead - in fact they barely kept up with inflation.

This statement is correct. Superannuation funds have performed so poorly that if you had put the money in a dirt poor savings account you would be no worse off.

Reality is that what the government should have done is up the tax rate and put that money into an indexed pension. The more you earn, the better your pension. Pretty simple, best of all, the government gets to mismanage the money.
They can use it themselves or loan it out and issue a fatwa on anybody who defaults. In any case that if you work and you pay tax, your pension is assured.

The same could have been done for private health insurance. If the medicare levy had been doubled, this money would be in the public health system, not in insurance company executive's yacht.

When it comes to the pension or super for that matter, the average Australian lives to 67. That means half of the population will be dead by the time they are eligible to access a pension.
What an investment for the government. You never have to give back half the money that people pay you.

Further more you can link the dole to the pension. If you're a dole bludger, the dole will negatively index your pension. So if you never work and never pay tax, but never claim the dole, then you will receive the minimum indexed rate.
That which would be set to something like 75% the average contribution. At the other end of the spectrum you can apply a law of diminishing returns which can be given tax credit for extra superannuation that a person might take out.
This gives the private funds an incentive to 'do a fvckin lot better' than current regime of dick pulling.

On the up side... if you have parents contributing to a super fund, you've got a 50% chance of a lottery payout. Actually better than that because the jackpot only proportionally decreases with time as your odds of a win get better.
So if you've got smokes, booze, chocolate or a hamburger. Give it to to your old folks to show them how nice you are while at the same time undermining their mortality.

With an underfunded public health system and a crooked superannuation system.... your treachery will be greatly rewarded.

[lsemmens]

I am, unfortunately forced to live on a DSP, having used all of my super to pay the piper. A mate lost all his super when Ansett went bust and had to start again. He set up a SMSF and has not looked back, He is now worth several million dollars.

[alpha0ne]

This statement is correct. Superannuation funds have performed so poorly that if you had put the money in a dirt poor savings account you would be no worse off.................................snip

Careful trash, too much truth and common sense could get you into all sorts of trouble with interested parties, eg the gubmint and fraud............err I mean insurance scams

[garrycol]

Well I have heard all the hype about Industry funds but my Colonial First State (Commonwealth Bank) funds went up 26.6% in 17/18, 19.5% the year before but lost 4% the year before.

So for an individual the stats might not apply.

[trash]

Went up by 26.6%. How much of that was contributions and how much was capital gain?
If I have $4 in the bank and I put in $1, that's a nice 25% gain. After 8 cents interest and $25 fees, I'd do better to invest in a gun.

[garrycol]

Went up by 26.6%. How much of that was contributions and how much was capital gain?
If I have $4 in the bank and I put in $1, that's a nice 25% gain. After 8 cents interest and $25 fees, I'd do better to invest in a gun.

All capital gain and no contributions.

[allover]

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