Australian Money Forum

[wulfgar]

http://www.abc.net.au/rn/saturdayextra/stories/2009/2503289.htm

I remember in 1989 the accountant at work handing me some material on new general superfund arrangement. I sat down a chortled to myself, I knew in the long run, it would turn out to be a ponzi arrangement. It will never be able to return the value that was imputed.
AK is warning about the general mix default super option most people are in. This contains types of "property" investments in the mix. You certainly want to get out of those and pick something like cash or Aussie shares. You'll still go on to lose in real terms, but not as much as the general option.
This is important because although super will only be good for tinned soup and crackers in your retirement. Picking a listed option now, means getting better brands of soup and crackers.

In the future there will be no pensions. Instead the government will have to bail out the super funds when they go bankrupt. Which will cost a whole lot more than straight pensions ever would have.