The whole thing is the pits and we literally have no say in it at all. The greedy CEO's of the likes of Telstra, Macquarie Bank, Qantas et al will still walk out with golden parachutes one way or the other.
I find it more astonishing that this has probably brewed for some years and only the last 9 months did the chickens come home to roost. Financial planners, funds managers, all the so called experts didn't even see it coming, at least not the crisis it is now.
I wished I'd move all my super to a cash fund now
. I do feel sorry for those due to retire in the next couple of years.
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If this scenario is not to be repeated we need some sensible worldwide regulation.... these guys either directly or indirectly have causes vast amounts of our superanuation to vanish.
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Couldn't agree with you more mate!!!
One more thing, given we have compulsory superannuation, shouldn't the government at least guarantee your principal ?
Its sickening to know that our hard earned $$$ are dwindling away......
