888, this article appears to be directed to Industry Super...

888, this article appears to be directed to Industry Super Funds, which use interim crediting returns and reserves. In previous posts I've pointed out examples of an IF reducing the reported return in order to top-up reserves by 1% pa over 3 years, which was only disclosed if you read the Annual Report and put 2 and 2 together. I.e. 10% declared, 9% received. Some of the reserves were for capital expenses. Looking at the IF annual reports and doing some simple maths gives interesting reading.

The statement "It can also mean a difference of thousands of dollars in return on a $10,000 investment returning about 6 per cent over 20 years" really doesn't say anything of substance, if you think about it, it's just journalistic hysteria I'm afraid.

Tibbs, I'm not kidding. I'm pointing out how esuperfund might get additional income to support their low-cost offer. In other threads people have condemned commission payments so it's probably relevant to raise it here in the interests of balanced discussion, don't you think?

Probably the reason SMSF's have illegal insurance arrangements is they don't get the RIGHT advice. Not everyone apparently moves to a SMSF to be 100% in control themselves, even the ATO acknowledge and discourage that. Many do, which is fine. Everyone has a price on their time and preferred level of control. Google gives you information, it doesn't give you experience (kind of like my signature quote I guess), but it can get you most of the way there and pretty well get a reasonable outcome, nothing wrong with that. Obviously you have had one experience and that has set your mindset for life and you seem keen to want everyone to feel the same, so 100% control appears to be your thing.

If everyone was put off by their first experience then the human race would probably come to a grinding halt!

Lastly, you don't know me so I'm not sure why you are referring to MY industry. I post here generally as an observer and attempt to offer a balanced view, often making comments or refuting views, which not everyone enjoys, but so be it.