If the report I saw on 7:30 report last night was accurate then UniSuper was just a time bomb waiting to go off. The report described it as a 'defined benefit' scheme where the super fund had no recourse to the contributors if there was an acturarial short fall in the scheme. This is the principal reason why ALL other defined benefit schemes have been closed down by governments and industry. All risk to be born by the workers and non by the scheme.
In the end its a case of DYOR and caveat emptor. If a scheme offers way better returns (or payout based on final salary) than anyone else there is usually a price to pay and it would appear the paymaster has called time.
