Superannuation - The Great Lie

They said it was for our benefit. They said it was for our future.

I'm talking about superannuation.

OK, so hows this for benefit.....

Case 1.

My brother died 2 years ago and his superannuation came to me as next of kin. Total amount was four and a half thousand dollars. Not a lot, but he spent much of his life between jobs.

So by the time I'd gotten all the 'required' forms delivered to me and signed and returned, the superannuation company had LOST $800 of the payout through mis-investment. I had intended on using this money to pay for his funeral with any left over going to the RSPCA. Instead, I had to make up the difference with my own money which was pretty thin on the ground since I was unemployed myself.

And they say it's for our benefit. It's for our future.

Case 2.

My wife did a little work and got a little pay. It had to have a superannuation portion didn't it. No choice. It's for our own good says Big Brother in the Australian government.

The Superannuation company slowly eroded it to zero dollars then closed the account. Well thanks for that guys, if she'd put it in the bank then she might still have a little bit left.

Only it doesn't end there. More work for someone else and a new superannuation rip-off merchant cops a bit more money. Again, they weasel it down to almost nothing through fees.

It's for our own good. For our future.

Isn't it time the Australian Government did something about this problem? If we are forced to invest (how inappropriate is THAT word?) in superannuation, then it should at least guarantee that the money will not be chiseled away to nothing. It's bloody disgusting and it's time that it changed.

Not everyone can get employment. My wife is a full time carer for her parents and guess what - she can't even put money INTO superannuation so she can't build her future at all now and any money she did have in has been regurgitated as Superannuation Board coffee money. Even if she could get a little job to fit in with the 24x7 job of carer, the pittance she would get put into a superannuation scheme would be eroded faster than she could add to it.

It's for our own good. For our future.

Well that's bullshit and it's time Australian's got off their backsides and did something about the criminal running of this country. This is a sham, a mockery and an injustice to all Australians.

And it is NOT for our own good. And it is NOT for our future. It is for the pockets of the bloated bastards who care nothing for the rest of the country.