Stories
Slash Boxes
Comments
NOTE: use Perl; is on undef hiatus. You can read content, but you can't post it. More info will be forthcoming forthcomingly.

All the Perl that's Practical to Extract and Report

use Perl Log In

Log In

[ Create a new account ]

Alias (5735)

Alias
  (email not shown publicly)
http://ali.as/

Journal of Alias (5735)

Friday February 22, 2008
12:17 AM

Industry Super Funds with no Conflict of Interest win again

[ #35721 ]

http://business.smh.com.au/industry-super-funds-more-super-than-others/20080222- 1txc.html

Backing up my entry from a few days ago, a new study of around 100 Super Funds reinforces the benefits to be gained by putting yourself in a position where the management of your pension money doesn't suffer from any conflicts of interest.

Because there are no profits extracted from the funds, and the industry funds even refuse to pay broker commissions, the Industry Super Funds have shown themselves to be TWICE as efficient at generating income compared to the "retail" funds (which generate profits and pay broker commissions) on a "profit (dollars) per management fee (dollar)" basis.

That is, for every $1 dollar you pay the pension fund in management fees, the industry fund will increase the value of your private account by around $16 on average, compared to only $8 in the retail funds.

I also discovered this week that a recent amalgamation between two smaller funds has created "Australian Super", which is an "Industry Non-Specific Industry Fund".

This takes the concept to an even purer form, where (unlike the way in which the Construction and Forestry Union involved with the Construction and Forestry Industry Super Fund) the fund is ONLY owned and controlled by the members, without even the implicit fealty to a specific union (and any potential resulting corruption or cronyism).

More importantly, it's a fund that I can actually join.

So I think I shall pay them a visit next week and look into moving my account.

The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
 Full
 Abbreviated
 Hidden
More | Login | Reply
Loading... please wait.