Workers' funds are not so super

 

• Global financial crisis hammers superannuation
• 51 of 83 default super options delivered negative returns
• REST Industry Super the top performing default option 

 MORE than six million Australians would have been better off stuffing cash under a mattress than putting it in their employers' default superannuation option over the last five financial years.
Today News Limited reveals the worst and best performing super funds in Australia over the past decade and the true cost of our inaction on super.

Most Australians make no active choice when it comes to super; the majority (60 per cent) have their super paid automatically into the default investment option of their employers chosen superannuation fund.

Thanks to the battering of the global financial crisis, every dollar invested in a typical default fund went backwards, after fees and taxes, by 0.3 per cent a year on average over the past five financial years, according to data from SelectingSuper, a service of research group Rainmaker.

Of the 83 default super options available over the five years, 51 delivered negative annual returns for members (6,066,129 member accounts) and 32 delivered positive returns (10,179,634 member accounts).

''The past decade, and the time since the global financial crisis especially, has been a train wreck for super funds,'' Alex Dunnin, head of research at Rainmaker, told News Limited.

 heraldsun.com.au 8 Oct 2012

If a genuine answer was to be extracted from a financial consultant's opinion on superannuation funds, then it would be along the lines that it is one of the worst places one could put ones finances, as it is one of the worst performing financial 'investments'.

Yet the government makes it mandatory (you are being forced - naturally for your own good) for the herd to put their finances in one of the worst performing places. and falsely gives the plebs the impression that they will be able to retire on these funds when the person reaches retiring age.

Financial institutions can earn from 0.5% to 3% or more daily from trading with other people's monies.

The public see only but a small percentage of what the financial institutions actually make.

The government also make a huge profit from the monies of the workers, which is actually a closely guarded secret of how this financial fraud is carried out.

A document exists called Secret Monies, which corpau has access to, detailing how the government is making billions per year from the interest obtained from the monies of the masses. 

This is fraud at one of the highest levels of banking and governance.

These are just some of the deals the politicians and law makers do with corrupt bankers.

Naturally there will never be any class action taken on by any law firm in Australia.