Australian Politics Forum - Are yout Super funds Safe

lee

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Are yout Super funds Safe
Nov 28^th, 2023 at 3:55pm

"The behemoth Australian fund IFM Investors will sink £10bn (A$19bn) into infrastructure and energy transition projects in Britain by 2027 as part of a new memorandum of understanding with the Sunak government.

The decision by IFM – which is owned by 17 Australian industry super funds – comes as a coalition of business and environmental groups calls on the Albanese government to supercharge tax and other financial incentives to ensure Australia can attract sufficient capital to drive the domestic transition to net zero emissions."

https://www.theguardian.com/australia-news/2023/nov/27/australian-super-fund-put...

That's Your super fund. And Net(nut) zero has nil chance of success. Contact your super fund and see if you can bail on this.😡

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freediver Gold Member Offline www.ozpolitic.com Posts: 52918 At my desk.	Re: Are yout Super funds Safe Reply #1 - Nov 28^th, 2023 at 4:03pm Has anyone ever paid you for financial advice?
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lee

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Re: Are yout Super funds Safe
Reply #2 - Nov 28^th, 2023 at 5:23pm

freediver wrote on Nov 28^th, 2023 at 4:03pm:

Has anyone ever paid you for financial advice?

Yes. Next question?

Perhaps you want to mean will the injection of funds into UK net zero pay an equitable return and be relatively safe.

"Pressure rises on Hunt as 2m more households fall into fuel poverty"

https://www.theguardian.com/society/2023/feb/28/pressure-jeremy-hunt-as-2m-more-...

Inflation running at 4.7%, National debt about 100% GDP.

Does that sound like a safe investment to you? Perhaps they would be better betting on the Australian "net zero" concept.

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Frank

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Re: Are yout Super funds Safe
Reply #3 - Nov 28^th, 2023 at 5:43pm

lee wrote on Nov 28^th, 2023 at 3:55pm:

"The behemoth Australian fund IFM Investors will sink £10bn (A$19bn) into infrastructure and energy transition projects in Britain by 2027 as part of a new memorandum of understanding with the Sunak government.

The decision by IFM – which is owned by 17 Australian industry super funds – comes as a coalition of business and environmental groups calls on the Albanese government to supercharge tax and other financial incentives to ensure Australia can attract sufficient capital to drive the domestic transition to net zero emissions."

https://www.theguardian.com/australia-news/2023/nov/27/australian-super-fund-put...

That's Your super fund. And Net(nut) zero has nil chance of success. Contact your super fund and see if you can bail on this.😡

'Ethical investment' is a scam.

Invest in oil, gas, electricity, armaments and munitions, grain, nuclear and aviation technology.

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Laugh till you cry

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Re: Are yout Super funds Safe
Reply #4 - Nov 28^th, 2023 at 7:22pm

Freemasons are taking Australia's unwanted money to distribute to wealthy Indian poms and their pommy subjects.

UK is going through devolution to a level below third-world and adoption of universal poverty. Only those with money regarded as disposable will invest in the UK.

Indian entrepreneurs and Indian Poms now appear to be in control of the UK. White Poms are starting to immigrate to India because they can't afford to live in the UK.

The Rupee will become more valuable than the GBP.

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Frank

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Re: Are yout Super funds Safe
Reply #5 - Nov 28^th, 2023 at 8:10pm

Laugh till you cry wrote on Nov 28^th, 2023 at 7:22pm:

Freemasons are taking Australia's unwanted money to distribute to wealthy Indian poms and their pommy subjects.

UK is going through devolution to a level below third-world and adoption of universal poverty. Only those with money regarded as disposable will invest in the UK.

Indian entrepreneurs and Indian Poms now appear to be in control of the UK. White Poms are starting to immigrate to India because they can't afford to live in the UK.

The Rupee will become more valuable than the GBP.

And yet the Indians are flooding into England and the English are keeping away from India.

Why?

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Re: Are yout Super funds Safe
Reply #6 - Nov 28^th, 2023 at 9:00pm

Frank wrote on Nov 28^th, 2023 at 8:10pm:

Laugh till you cry wrote on Nov 28^th, 2023 at 7:22pm:

Freemasons are taking Australia's unwanted money to distribute to wealthy Indian poms and their pommy subjects.

UK is going through devolution to a level below third-world and adoption of universal poverty. Only those with money regarded as disposable will invest in the UK.

Indian entrepreneurs and Indian Poms now appear to be in control of the UK. White Poms are starting to immigrate to India because they can't afford to live in the UK.

The Rupee will become more valuable than the GBP.

And yet the Indians are flooding into England and the English are keeping away from India.

Why?

It is not too late for you Frank.

"Today, there are 37,700 British nationals living in India, figures released by the Foreign and Commonwealth Office reveal."

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freediver

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Re: Are yout Super funds Safe
Reply #7 - Nov 28^th, 2023 at 9:44pm

lee wrote on Nov 28^th, 2023 at 5:23pm:

freediver wrote on Nov 28^th, 2023 at 4:03pm:

Has anyone ever paid you for financial advice?

Yes. Next question?

Perhaps you want to mean will the injection of funds into UK net zero pay an equitable return and be relatively safe.

"Pressure rises on Hunt as 2m more households fall into fuel poverty"

https://www.theguardian.com/society/2023/feb/28/pressure-jeremy-hunt-as-2m-more-...

Inflation running at 4.7%, National debt about 100% GDP.

Does that sound like a safe investment to you? Perhaps they would be better betting on the Australian "net zero" concept.

What I meant was, I don't think you have any real interest in giving people good financial advice. You are just trying to pass off your ignorant political views as financial advice.

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lee

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Re: Are yout Super funds Safe
Reply #8 - Nov 28^th, 2023 at 9:57pm

freediver wrote on Nov 28^th, 2023 at 9:44pm:

What I meant was, I don't think you have any real interest in giving people good financial advice.

I no longer give financial advice. I do however care about Super Funds sending money that will probably not generate good returns.

You really should have stopped at "I don't think". Roll Eyes

Perhaps you have an interest in the Super Funds sending your money offshore?

freediver wrote on Nov 28^th, 2023 at 9:44pm:

You are just trying to pass off your ignorant political views as financial advice.

Which ignorant political view would that be? Perhaps you think the Super Funds sending money offshore is a political act? Roll Eyes

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freediver Gold Member Offline www.ozpolitic.com Posts: 52918 At my desk.	Re: Are yout Super funds Safe Reply #9 - Nov 28^th, 2023 at 10:00pm Quote: I do however care about Super Funds sending money that will probably not generate good returns. You care about climate change denial. That's why you post about it. You pretend to care about people's savings.
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Laugh till you cry

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Re: Are yout Super funds Safe
Reply #10 - Nov 29^th, 2023 at 12:21am

The real problem is perhaps the managers of the funds are receiving under-the-table inducements to direct the investments corruptly.

Observe the number of people who have been prosecuted for corrupt financial practices.

For huge investments placed corruptly financial managers could receive huge benefits.

Australia has a problem. There is too much money in the funds and they are struggling to get a reasonable return.

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freediver Gold Member Offline www.ozpolitic.com Posts: 52918 At my desk.	Re: Are yout Super funds Safe Reply #11 - Nov 29^th, 2023 at 9:16am Lee were you this dishonest about your motivations back when you were trying to sell financial advice?
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lee

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Re: Are yout Super funds Safe
Reply #12 - Nov 29^th, 2023 at 11:47am

freediver wrote on Nov 28^th, 2023 at 10:00pm:

You care about climate change denial.

No one I know says that climate doesn't change, that it is static.freediver wrote on Nov 28^th, 2023 at 10:00pm:

That's why you post about it.

"It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong." -Richard Feynman

CO2 induced climate change has NOT been shown to be true. Models are NOT truth. It is allowed for scientists to say "I don't know", though they invariably don't. It is allowed for people to be sceptical, indeed it is a sign of a proper scientist. It is what overturned many previous prevailing theories. Roll Eyes

freediver wrote on Nov 28^th, 2023 at 10:00pm:

You pretend to care about people's savings.

Nope it is you who are making unfounded accusations. Is that against site rules? Roll Eyes

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lee Gold Member Online Australian Politics Posts: 20636 Gender:	Re: Are yout Super funds Safe Reply #13 - Nov 29^th, 2023 at 11:49am freediver wrote on Nov 29^th, 2023 at 9:16am: Lee were you this dishonest about your motivations back when you were trying to sell financial advice? And still making stuff up. Why do you do that? But I will give you another chance. Please expound on my " ignorant political views as financial advice".
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Laugh till you cry

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Re: Are your Super funds Safe
Reply #14 - Nov 29^th, 2023 at 2:39pm

Super funds are not safe. They follow a path of diminishing returns relying only on the annual contributions to make it appear that Super grew over the year.

Many funds are failing. More will fail.

Bernie Madoff may be dead but his philosophies are not.

https://www.superguide.com.au/comparing-super-funds/super-funds-underperformance

Quote:

Last year, five MySuper options failed. Of those, four have merged with other funds and are no longer offered. The last failed for a third consecutive year – with its provider making plans to stop offering the product.

The Australian Prudential Regulation Authority (APRA) says the test is intended to hold super trustees to account for underperformance through greater transparency and increased consequences. So far, all products that have experienced two or more test failures have closed or are in the process of closing, demonstrating that the strategy appears to be working. Persistently underperforming products are being removed from the market.

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