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Hands Off My Super

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ingot54
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Username: ingot54

Post Number: 2304
Registered: 05-2004

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Wednesday, November 28, 2012 - 08:25 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Wayne Swan wants to force Industry Funds to hand over any super than is unclaimed for more than 12 months.

That means that if you do not make any contribution to your superannuation savings in any 12 month period, or contact your super fund for updates, contributions, statements etc, then they are required to submit all of your account to the ATO, for inclusion in General Revenue.

Personally I think that sucks. Labor has not brought in a Budget Surplus since 1989-1990. I think there are other ways, such as cutting spending.

But they want to cut spending ... other people's spending potential, as they confiscate your super. There are also plans to spend your superannuation in other ways - by forcing Industry Super Funds to invest in other areas previously very limited - infrastructure.

Just Google this:

"Labor planning to force Australian Superannuation Industry Funds to invest in infrastructure"

and you will see that the way it is being spun in some articles is that this request if coming from the funds themselves!

This is untrue - investors do not need the assistance of government.
They do not need the coercion or co-operation of government.

All they need is to be left alone to mange and invest unhindered.

And that's what the free market and enterprise achieve, when government is not involved.

There is a petition you can sign to try to prevent governments from getting their hands on your super.

Unless the governments of Australia, of all colours "get the message" that investors and savers resent and resist all attempts to get their hands on this huge pool of our accumulated savings, then they will drive the wedge more deeply until all we will be left with is a pension or annuity, which is what we had before Keating's plan for a National Superannuation Plan.

I urge you to read further on this, and form your own views on it.

If you agree that something needs to be done, then you can sign a petition to that effect at this link.

This is how freedom dies, and fascist states arise, as people do nothing to defend the liberties they take for granted. Signing this petition is a small stem anyone can take to say "no" to the politics that would control all of your savings.


Keep Smiling - Don't look back

Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison

Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead


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espresso
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Username: espresso

Post Number: 554
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Wednesday, November 28, 2012 - 10:02 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thank's for the heads up Ingot54
cheers
Espresso


Let him that would move the world, first move himself.
Socrates

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gdd3
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Username: gdd3

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Thursday, November 29, 2012 - 10:26 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Thanks also from me, Ivan...

The "12 month period" stinks...many of we SMSF'ers often can't/chose not to ...contribute to their Super(% held under other Superfund managers)because of current market positions...I mean, why throw hard earned savings/cash into a funds that are loosing value, because of market conditions or more likely incompetence, just for the sake of "you must contribute regularly...at all costs!"

...and as for ""Labor planning to force Australian Superannuation Industry Funds to invest in infrastructure" ;
this is a joke even better than the Parliamentary comedy show between the Two ladies representing our Gov't/Opposition that we all had to endure on last night's news highlights...did I say "highlights"...I must be crazy!

....and as for the crux of the MySuper plan..well what can one say!...I support Ivan's request to register your disapproval!


Focus back on superannuation tax breaks
by: David Uren and David Crowe From:The Australian November 29, 2012 12:00AM


"The government struck a surprise deal in parliament last night to complete the last major element of reforms to create simpler MySuper accounts with lower fees.

In a significant compromise, Labor dropped plans to force the transfer of about one million accounts holding $43 billion to the new MySuper funds with or without the owner's approval.

The MySuper regime begins next July for monthly contributions, requiring super funds to set up new accounts for their members, but assets in existing funds do not have to be shifted to the new accounts until July 2017.

The government initially planned to transfer millions of accounts but the industry group representing big fund managers had warned against a mandatory shift for people who had chosen an account they were happy with."



Dolphin }}}}}}







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ingot54
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Username: ingot54

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Thursday, November 29, 2012 - 10:47 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Cheers guys, and thanks Dolphin for the up-to-date news - I will look further at it.

I think if enough people register disapproval at government interference in how we choose to save and fund our own futures, then they will back away ... for awhile.

Government is a growing, intrusive beast.

We need to be on our guard to keep them distant from our personal affairs, or all we will have left is our tears ... and a bigger fight to get back our freedom and financial autonomy.

We can send the message here


Keep Smiling - Don't look back

Hell, there are no rules here - we're trying to accomplish something ~ Thomas A. Edison

Never believe that a few caring people can't change the world. For, indeed, that's all who ever have ~ Margaret Mead

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