I used to work at Telstra and one of the guys was hanging out for 54.99, he basically wanted to leave just a couple of days before his birthday so he could get a bit extra pay. Problem was, the person who had authority to sign off went on leave at the crucial time! He had to get several people to go through hoops just to help him out....most of us just thought "karma"! At times he was very annoying and arrogant so when he started complaining about how we was going to miss out, it was pretty hard to find someone who cared
He had done all of his calculations and I remember him saying at one time "now with my cash I can put that into some sort of bank deposit, I can easily get 10%, current rates are 13% or more" (back when interest rates were that high, wonder how many people today could survive 18% on their house). He could see that all of his calculations did not take into account things like "but what if the person signing is not there?"
Many people left Telstra at that time under the same circumstances. I stayed in the old scheme too, but when I left at 42 I was a long way off a pension and a percentage of what I was on back then would not have made a great income stream so I took out what cash I could (paid off the house) and transferred to a "normal" scheme. In hindsight, had I put all of my remaining super into cash, I would be light years ahead of where I am now 11 years later
Wouldn't we all
