Superannuation Discussion + market volatility

[Pushka]

I suspect Superannuation Funds are happier to keep the $$$ under their control rather than give the money to those who have earned it (and paid 15% tax interest process). "We know it's your money but we are better at spending it than you".

I percieve significant lobbying from the "industry super funds".

Except you can withdraw everything without penalty now. I'm happy with the performance of HESTA, the income stream has grown significantly even though I'm withdrawing it so they must be doing something right. Annuity? No way.

 

[burmans]

I suspect Superannuation Funds are happier to keep the $$$ under their control rather than give the money to those who have earned it (and paid 15% tax interest process). "We know it's your money but we are better at spending it than you".

I percieve significant lobbying from the "industry super funds".

And you think somehow the Retail funds won't/can't lobby?

 

[serfty]

And you think somehow the Retail funds won't/can't lobby?

If course not ... I did employ the word "perceive", as in "I am aware of it happening".

 

[serfty]

Except you can withdraw everything without penalty now. I'm happy with the performance of HESTA, the income stream has grown significantly even though I'm withdrawing it so they must be doing something right. Annuity? No way.

That's now.

What the future holds and what changes are planned is not yet public? (The article you linked to does allude to innovative products, maybe they will be somewhat coughpulsary. )

 

[Pushka]

That's now.

What the future holds and what changes are planned is not yet public? (The article you linked to does allude to innovative products, maybe they will be somewhat coughpulsary. )

The details today were purchasing an annuity. The assistant treasurer was interviewed on the radio. Someone rang in and asked if they were going to stop people withdrawing lump sums to pay off the mortgage. He said no change to that. Do I trust them? Ah. Jury is out.