Superannuation Discussion + market volatility

[Pushka]

Welcome to the party.

When did you join? Because of this 'enhancement'?

 

[Pushka]

I recall someone here had issues closing an account then no longer being able to claim a deductable contribution already made.
Caution if eg moving from HESTA to keep it open, $1?

Thankfully not our situation for a couple of years now.

@QF WP - the thought of not even seeing our balances let alone be able to access our money (post 65) was too much to think about. It's like being locked out of your bank account for 6 weeks. And you can't even call up and find out the balance let alone track its progress. There has been no mention, at all, as to any growth these employer contributions may have during this time and most employees would have no idea their contributions weren't being allocated as it's only because we are in both camps that we can see the restrictions as an employee and an employer. Yet the Govt is soon to make it compulsory that contributions are paid each pay day. How can HESTA get away with it? I'm still angry, it's been very stressful until yesterday not knowing if there would be issues, and HESTA haven't even bothered to respond to a complaint after 3 weeks.

Amd the fact there's been no public voice about it suggests that most haven't read the email. Just one email. Wonder what will happen mid April. Then there's Easter. And Anzac.

Employees version.




And the employers version.

 

[Quickstatus]

When did you join?

Loooong time ago

 

[Pushka]

Loooong time ago

That's quite reassuring. Thanks.

Like my transition from myob to Xero, I'm a slow learner.

Weirdness is that when my kids started work I joined them up to Australian Super and they've been very happy with it.

 

[Brissy1]

Thankfully not our situation for a couple of years now.

@QF WP - the thought of not even seeing our balances let alone be able to access our money (post 65) was too much to think about. It's like being locked out of your bank account for 6 weeks. And you can't even call up and find out the balance let alone track its progress. There has been no mention, at all, as to any growth these employer contributions may have during this time and most employees would have no idea their contributions weren't being allocated as it's only because we are in both camps that we can see the restrictions as an employee and an employer. Yet the Govt is soon to make it compulsory that contributions are paid each pay day. How can HESTA get away with it? I'm still angry, it's been very stressful until yesterday not knowing if there would be issues, and HESTA haven't even bothered to respond to a complaint after 3 weeks.

Amd the fact there's been no public voice about it suggests that most haven't read the email. Just one email. Wonder what will happen mid April. Then there's Easter. And Anzac.

Employees version.

View attachment 436682


And the employers version.

View attachment 436683

Dreadful email to members, quite disingenuous. Nothing in the title indicating the main affect, suspension of access, and that info not stated until after paragraphs of guff.
Many members would have given up before they got to the end of the guff.

 

[Pushka]

Dreadful email to members, quite disingenuous. Nothing in the title indicating the main affect, suspension of access, and that info not stated until after paragraphs of guff.
Many members would have given up before they got to the end of the guff.

Yup. My thoughts exactly. Deliberately so as not to raise panic - or action. I read every email that I know is genuine. I think employers may not read it either and for them it has many implications if they haven't created the new QuickSuper account by then. HESTA dropped that change on employers the week before Christmas break last year.