My superannuation was parked in cash for a few months earlier this year while I switched it to a new account. That meant I fortunately missed the first half of the stock market downturn and probably saved a few thousand dollars. I opened the new account with about $78,000. It’s worth the same today, even [...]
NAB retirement savings account
We had a bad experience recently with the National Australia Bank, the bank with the unfortunate acronym of NAB. Juliet and I are reviewing our superannuation strategy and our financial adviser is setting up new accounts. Juliet’s super was dormant in a retirement savings account with NAB. We’d lost the relevant paperwork so Juliet visited [...]
Managed funds bonanza
The Age reports that Australians have $1.1 trillion invested in managed funds, according to data released by the Australian Bureau of Statistics. It’s no surprise really, given that compulsory superannuation has been part of the landscape since the mid 1980s. Federal Treasurer Peter Costello is quoted as saying: “I have no doubt that the volume [...]
HESTA superannuation
This blog is a rant against HESTA, the health and community services sector superannuation fund. I have an account with them into which my former employer made its nine percent compulsory payments. Upon starting at the Kalgoorlie Miner I transferred my main super account seamlessly from ING to the WA News company fund without any [...]
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