Australian Politics Forum - Millions Missing Out On Superannuation

lee

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Re: Millions Missing Out On Superannuation
Reply #15 - Mar 26^th, 2018 at 7:27pm

Its time wrote on Mar 26^th, 2018 at 7:02pm:

9 out of the top ten are industry funds Grin

You do understand that the commercial super funds still have to account for the funds in the pension phase; which distorts the picture?

"As we showed on Thursday, over the last 10 years, industry super funds have transferred $50 million to unions."

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Its time

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Re: Millions Missing Out On Superannuation
Reply #16 - Mar 26^th, 2018 at 7:29pm

lee wrote on Mar 26^th, 2018 at 7:27pm:

Its time wrote on Mar 26^th, 2018 at 7:02pm:

9 out of the top ten are industry funds Grin

You do understand that the commercial super funds still have to account for the funds in the pension phase; which distorts the picture?

"As we showed on Thursday, over the last 10 years, industry super funds have transferred $50 million to unions."

https://i1.wp.com/thefairgo.com/wp-content/uploads/2017/07/union_funds.jpg

I will stick with my industry super fund thanks

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lee

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Re: Millions Missing Out On Superannuation
Reply #17 - Mar 26^th, 2018 at 7:37pm

Its time wrote on Mar 26^th, 2018 at 7:29pm:

I will stick with my industry super fund thanks

Of course you will. It is your super and your responsibility. I wouldn't dream of denying you that.

Perhaps you could ask your industry fund to withhold their payments on your behalf to the union; so you have a larger nest egg, seeing as you seem to believe it won't be enough.

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stunspore

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Re: Millions Missing Out On Superannuation
Reply #18 - Mar 26^th, 2018 at 8:33pm

lee wrote on Mar 26^th, 2018 at 7:37pm:

Its time wrote on Mar 26^th, 2018 at 7:29pm:

I will stick with my industry super fund thanks

Of course you will. It is your super and your responsibility. I wouldn't dream of denying you that.

Perhaps you could ask your industry fund to withhold their payments on your behalf to the union; so you have a larger nest egg, seeing as you seem to believe it won't be enough.

Those same super funds have less fees than retail funds. That's a fact. But welcome someone to show me otherwise. Net returns far stronger with industry funds.

Here's a great retail fund for you.
http://www.abc.net.au/news/2018-03-26/mercer-superannuation-members-high-fee-acc...

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lee

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Re: Millions Missing Out On Superannuation
Reply #19 - Mar 26^th, 2018 at 8:48pm

stunspore wrote on Mar 26^th, 2018 at 8:33pm:

Those same super funds have less fees than retail funds. That's a fact. But welcome someone to show me otherwise. Net returns far stronger with industry funds.

Here's a great retail fund for you.
http://www.abc.net.au/news/2018-03-26/mercer-superannuation-members-high-fee-acc...

Oh that's right you are a scientist.
How about you do the maths, Rule of 72, on how much say $100 pa to your union for the next 40 years costs you.

By the way what does the union actually do to generate this largesse? Board Fees?

Sorry, I didn't give you a rate of return - say 8%

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« Last Edit: Mar 26^th, 2018 at 8:57pm by lee »

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Bam

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Re: Millions Missing Out On Superannuation
Reply #20 - Mar 27^th, 2018 at 11:54am

lee wrote on Mar 26^th, 2018 at 3:55pm:

Its time wrote on Mar 26^th, 2018 at 3:44pm:

Oh the welfare bill would've been lower ah hah

The welfare bill will be lower.

Superannuation is looking at a 45 year (at least) investment plan. The Keating reforms were started in 1992. So currently only 26 years. It is in the final years that the compounding effect of Super really kicks in.

You should really do some study on YOUR super. It is YOU it will affect.

Please tell me when the Coalition last increased the level of compulsory superannuation contributions.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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lee Gold Member Offline Australian Politics Posts: 16404 Gender:	Re: Millions Missing Out On Superannuation Reply #21 - Mar 27^th, 2018 at 2:36pm Bam wrote on Mar 27^th, 2018 at 11:54am: Please tell me when the Coalition last increased the level of compulsory superannuation contributions. Oh dear. One of the entitled. "They" should pay all of your superannuation. You should not have to do anything.
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Bam

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Re: Millions Missing Out On Superannuation
Reply #22 - Mar 27^th, 2018 at 2:38pm

lee wrote on Mar 27^th, 2018 at 2:36pm:

Bam wrote on Mar 27^th, 2018 at 11:54am:

Please tell me when the Coalition last increased the level of compulsory superannuation contributions.

Oh dear. One of the entitled. "They" should pay all of your superannuation. You should not have to do anything. Grin

I see you are dodging the question.

Have another go.

Please tell me when the Coalition last increased the level of compulsory superannuation contributions.

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lee

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Re: Millions Missing Out On Superannuation
Reply #23 - Mar 27^th, 2018 at 2:46pm

Bam wrote on Mar 27^th, 2018 at 2:38pm:

Please tell me when the Coalition last increased the level of compulsory superannuation contributions.

No. You tell me. Wink

BTW -

"Workers should not be forced to lock away a rising portion of their wage in superannuation, according to a new report.

Axing the planned increase to 12 per cent in the rate of compulsory super would save federal coffers almost $2 billion a year – money that would be better spent boosting rent assistance for vulnerable retirees, mainly single women, the Grattan Institute report says."

https://www.smh.com.au/money/super-and-retirement/scrap-super-guarantee-increase...

Fairfax and Grattan Institute, both left leaning "progressive" organisations.

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Bam

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Re: Millions Missing Out On Superannuation
Reply #24 - Mar 27^th, 2018 at 3:27pm

lee wrote on Mar 27^th, 2018 at 2:46pm:

Bam wrote on Mar 27^th, 2018 at 2:38pm:

Please tell me when the Coalition last increased the level of compulsory superannuation contributions.

No. You tell me. Wink

BTW -

"Workers should not be forced to lock away a rising portion of their wage in superannuation, according to a new report.

Axing the planned increase to 12 per cent in the rate of compulsory super would save federal coffers almost $2 billion a year – money that would be better spent boosting rent assistance for vulnerable retirees, mainly single women, the Grattan Institute report says."

https://www.smh.com.au/money/super-and-retirement/scrap-super-guarantee-increase...

Fairfax and Grattan Institute, both left leaning "progressive" organisations.

No. I asked you a simple question. Surely you can answer it.

The compulsory superannuation contribution was supposed to increase eventually to 15% to ensure self-sufficiency in retirement for retirees.

So answer the question.

Please tell me when the Coalition last increased the level of compulsory superannuation contributions.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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lee Gold Member Offline Australian Politics Posts: 16404 Gender:	Re: Millions Missing Out On Superannuation Reply #25 - Mar 27^th, 2018 at 3:30pm Bam wrote on Mar 27^th, 2018 at 3:27pm: No. I asked you a simple question. Surely you can answer it. If it is si simple answer it yourself.
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Bam

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Re: Millions Missing Out On Superannuation
Reply #26 - Mar 27^th, 2018 at 4:19pm

lee wrote on Mar 27^th, 2018 at 3:30pm:

Bam wrote on Mar 27^th, 2018 at 3:27pm:

No. I asked you a simple question. Surely you can answer it.

If it is si simple answer it yourself.

One of these answers is correct:

You're not able to answer the question because

(a) You're too embarrassed to admit the truth
(b) You're unable to do your own research and you have to be spoon-fed with everything
(c) You're terminally lazy
(d) You're not very smart
(e) All of the above.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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lee

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Re: Millions Missing Out On Superannuation
Reply #27 - Mar 27^th, 2018 at 4:22pm

Bam wrote on Mar 27^th, 2018 at 4:19pm:

One of these answers is correct:

You're not able to answer the question because

(a) You're too embarrassed to admit the truth
(b) You're unable to do your own research and you have to be spoon-fed with everything
(c) You're terminally lazy
(d) You're not very smart
(e) All of the above.

You forgot F. Couldn't give an F. Grin

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Its time Gold Member Offline Boot libs out Posts: 25639 Gender:	Re: Millions Missing Out On Superannuation Reply #28 - Mar 27^th, 2018 at 8:51pm Poor old Lee has resorted to trolling as electoral victory all but evaporates .
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lee Gold Member Offline Australian Politics Posts: 16404 Gender:	Re: Millions Missing Out On Superannuation Reply #29 - Mar 27^th, 2018 at 8:53pm Its time wrote on Mar 27^th, 2018 at 8:51pm: Poor old Lee has resorted to trolling as electoral victory all but evaporates . Strange.I merely answered his question.
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