I’m a bit slow at times.
I was half way through this Warning I received today from ASIC, ACC, Victoria Police and Australia Post before I realised they weren’t talking about our superannuation funds.
Haven’t they invested many billions of our money, too, and ‘lost’ much of it in the process?
If this is providing for my future, give me the 9% of my wages my employer sets aside in a ‘super’ fund for me. I could put it in a bank with a slightly better degree of safety–or have much more fun losing it myself–than paying private superannuation funds big-time to lose so much of it for me.
I expect working Americans have achieved much the same results with their 401k, except they’ve been ‘scammed’: we’ve been ‘rorted’.
It’s strange world.
I guess there are official rorts, like the taxing of labour and capital, or retirement plans, then there are the sort of non-official rorts referred to in today’s letter.