Well this didnt really offer much advice so we could answer the title's question. Raising super contrabutions, not having time for super and not getting access to super for a month stories please have usable content and not just dramatic stories.
Jen Rich the key aspect of the story is to keep track of your super accounts ... consolidate them and use reputable funds ... ie where the trustees are focused on the members ... actively understand your fund. How to access it before you need it like the last gentleman.
Don’t blame Australian Super! They follow the regulations of the Government. You can get your money via a hardship claim but it has to be approved. And you get penalised for getting it early. This guy is nuts for transferring out. There’s plenty of super funds a lot worse out there
The only thing this article did was occupy 7min of broadcast time. Not trying to help, advise, provide answers, or really make any sort of statement, and didn't cover any "news" either... Just a couple of taking heads going around in circles, one guy unhappy he didn't get his paperwork sorted, and weekend BBQ plans. How is watching this article meant to do anything to help your audience? What betterment does it provide or aim for? What did you achieve here?
The Australians political members super need to get the same rate as Australians workers. And the wages need to be less than currently rate and should less number of the people are currently working there. That too many people in Parliament states and also tax departments and public servants.
The major problem with super is that it delivers a lot more benefits to high-income earners than it does to low-income earners. The system needs to be tweaked so that low-income earners get more out of the system.
@@unknownuser6809 High income earners get much more generous tax concessions on their superannuation. So, what you say is true but it ignores that the wealthy not only have more money to put in. They also pay much less tax than they otherwise would on investments outside of superannuation.
David Reid The percentage rates are the same for everyone - 15%; are you saying that low income earners should get a reduced rate or even tax-free? Haha that’s a good one, do you know what that is called? - DISCRIMINATION -
My super disappeared in fees and charges long ago. I started work in the 80s..they brought in super, I paid in...then ...poof..gone..the system is broken..it was designed to rob us.
@@unknownuser6809 In the 80's there were often no quarterly statements, people had no idea how things worked, including many employers, and the agents were on a free for all..I'm guessing you weren't around back then,pre-internet and all..
The super was introduced by Paul Keating at the time privatisation was the trendy word. It serves 3 purposes: 1. To avoid gov responsibility, 2. To make a few chosen ones very rich by injecting super into the financial system, 3. In the hope to get more tax out of the financial system. Most people don’t have any idea on their super. In the end, the money just get sucked out by all the fees and charges! Great idea, Shxt outcome!
Stop complaining Aussie. Try US social security chipping 6% of your paycheck where government will give you an empty promise. At least y'all know how much you have.
The big issue with super is that the super funds take too much money in fees vs places like the UK and US. The rich suburbs of Sydney and Melbourne are crammed with middlemen living in luxury on their skim off of Australians retirement savings.
Obviously you don't touch retail funds chant West and others recommendations look up the top 10 super funds on the internet industry super funds are 4 members no shareholders get paid out of your money the largest industry super fund is Australian super Q Super
@Wili Wds Oh it's coming, but hey, could be any time... And really, unless you self manage your fund, it will be gone... And even if you do self manage your fund they will find it and take it... I mean, they can skim everyones bank accounts when the s*it hits the fan, to bale themselves out....
I can give every full time employee a 39% pay rise. 1. Super is optional +9% 2. No sick leave, no annual leave, no long service, no bereavement leave, no maternity/paternity leave, no paid public holidays etc. If your not at work you don’t get paid basically). +30%.
Reece, that’s how I’ve consciously chosen to work (besides the super bit, obviously it’s still compulsory). I’m “casual” with two companies at the moment, soon to have a 3rd to choose from which will come with a higher average pay rate. I’m not stuck in the Monday-Friday 9 to 5 mindset and I choose the days I work, typically nights and weekends/public holidays which pay better and allows me to be wherever I want to be rather than sitting in traffic going to a job I hate. It’s not rocket science!
You guys are the best network news I've come across. Good work! Much love from Texas 𒀭𓆏𒀭
Well this didnt really offer much advice so we could answer the title's question. Raising super contrabutions, not having time for super and not getting access to super for a month stories please have usable content and not just dramatic stories.
Jen Rich the key aspect of the story is to keep track of your super accounts ... consolidate them and use reputable funds ... ie where the trustees are focused on the members ... actively understand your fund. How to access it before you need it like the last gentleman.
Don’t blame Australian Super! They follow the regulations of the Government. You can get your money via a hardship claim but it has to be approved. And you get penalised for getting it early. This guy is nuts for transferring out. There’s plenty of super funds a lot worse out there
He is old enough to get it as a pension as it says in the report. The problem is poor customer service due to poor management.
The only thing this article did was occupy 7min of broadcast time. Not trying to help, advise, provide answers, or really make any sort of statement, and didn't cover any "news" either... Just a couple of taking heads going around in circles, one guy unhappy he didn't get his paperwork sorted, and weekend BBQ plans.
How is watching this article meant to do anything to help your audience? What betterment does it provide or aim for? What did you achieve here?
This is what happens when the bank is not regulated & when wages stagnated people are ending up dirt poor.
Australians are dirt poor?? Only in dream...Australia is wealthy country compared to 99% of the countries out there...
The Australians political members super need to get the same rate as Australians workers. And the wages need to be less than currently rate and should less number of the people are currently working there. That too many people in Parliament states and also tax departments and public servants.
The major problem with super is that it delivers a lot more benefits to high-income earners than it does to low-income earners. The system needs to be tweaked so that low-income earners get more out of the system.
David Reid it’s all based on how much you contribute. You put in more you get more in the end. Thing is most high earners have more money to put in
@@unknownuser6809 High income earners get much more generous tax concessions on their superannuation. So, what you say is true but it ignores that the wealthy not only have more money to put in. They also pay much less tax than they otherwise would on investments outside of superannuation.
David Reid The percentage rates are the same for everyone - 15%; are you saying that low income earners should get a reduced rate or even tax-free? Haha that’s a good one, do you know what that is called? - DISCRIMINATION -
My super disappeared in fees and charges long ago. I started work in the 80s..they brought in super, I paid in...then ...poof..gone..the system is broken..it was designed to rob us.
rowb early if you didn’t read the quarterly statements then you have no one else to blame but yourself.
@@unknownuser6809 In the 80's there were often no quarterly statements, people had no idea how things worked, including many employers, and the agents were on a free for all..I'm guessing you weren't around back then,pre-internet and all..
@@unknownuser6809 We still got paid with a yellow envelope full of cash,every week...you don't know what it was like,clearly.
@@unknownuser6809 I guess the Royal Commission was wrong about the dodgy and illegal practices they uncovered then hey? Thanks for the input , though.
@Wili Wds Cash restriction bill coming..gold or silver is all I'm looking at. Maybe I'll invest in corrective services corps..they are gonna be busy.
The super was introduced by Paul Keating at the time privatisation was the trendy word. It serves 3 purposes: 1. To avoid gov responsibility, 2. To make a few chosen ones very rich by injecting super into the financial system, 3. In the hope to get more tax out of the financial system. Most people don’t have any idea on their super. In the end, the money just get sucked out by all the fees and charges! Great idea, Shxt outcome!
Industry Super funds are most favourable, don’t trust the banks. CBUS for me
Stop complaining Aussie. Try US social security chipping 6% of your paycheck where government will give you an empty promise. At least y'all know how much you have.
Like everything, the more money one has the better it performs.
Generations of flawed economic reasoning is coming home to roost
Transfer your superannuation balances to Australian Super and you will never regret it.
The big issue with super is that the super funds take too much money in fees vs places like the UK and US. The rich suburbs of Sydney and Melbourne are crammed with middlemen living in luxury on their skim off of Australians retirement savings.
Australia. A fools paridise?
PLease Help. . .. which is the best superannuation company to invest in ? thanks
@Wili Wds thanks, which chart?
HostPlus. Their performance is ahead of all the others.
Obviously you don't touch retail funds chant West and others recommendations look up the top 10 super funds on the internet industry super funds are 4 members no shareholders get paid out of your money the largest industry super fund is Australian super Q Super
*No one will have super, once the financial crisis hits, it will all be gone!*
@Wili Wds
Oh it's coming, but hey, could be any time...
And really, unless you self manage your fund, it will be gone... And even if you do self manage your fund they will find it and take it...
I mean, they can skim everyones bank accounts when the s*it hits the fan, to bale themselves out....
@Wili Wds
At the end of the day, I don't care what they do... I'm not of this world
I can give every full time employee a 39% pay rise.
1. Super is optional +9%
2. No sick leave, no annual leave, no long service, no bereavement leave, no maternity/paternity leave, no paid public holidays etc. If your not at work you don’t get paid basically). +30%.
So you mean just go casual?
Harman Gill No, you would still be full-time (38hours a week).
My point is we are short changing ourselves because of Government regulation.
Reece, that’s how I’ve consciously chosen to work (besides the super bit, obviously it’s still compulsory). I’m “casual” with two companies at the moment, soon to have a 3rd to choose from which will come with a higher average pay rate. I’m not stuck in the Monday-Friday 9 to 5 mindset and I choose the days I work, typically nights and weekends/public holidays which pay better and allows me to be wherever I want to be rather than sitting in traffic going to a job I hate. It’s not rocket science!