retirees at risk after 1bn crash , page-3

Well, I had dinner last night with some great folks....and could not believe on how some are so concerned on this matter.

Mind you 3 of them were close to retirement.

I think it's time to the Australian government to make changes on the way we manage our retirement/super funds.
It's all good to say that us here and others that enjoy economics and finances will manage our own supers due to the hopeless super funds around.( the so called experts )

But, how about millions and millions of Australians that are working hard and are trying to trust their compulsory contributions on some super fund ????

It's time to act Mr. Rudd and treasurer.....there is a massive contigent of retirees coming up now this year and the next....and will have have their super sliced by 10-30% ? hope not more.....

We are in a economic new era and we must address this transition in a adequate manner....especially if we are to continue this COMPULSORY contribution with NO SAFETIES and GUARANTEES.....

cheers