On behalf of OCV and PIF investors I'd like to welcome Unisuper Clients to the Suckers Club. The law can only do so much. And with our courts allowing English to be such a flexible language .... triksy triksy.
Thought you were in a "defined benefit" scheme? Did you think you were safe from the shennanigan's of the so called "free market"? Well guess what. Looks like you've been duped by clever lawyers. Just like all of Octaviar's and Fortress' victims.
Remind me what was Swan's response to the PIF investor's question at the London School Of Economics? Something about seeking higher returns through market linked investments and now, sadly, the worst has happened.
Well that means Unisuper Clients too now. Hurts doesn't it? Holding something that's far less secure than what you thought it was after being exposed to the seller pitch.
You can join us in the queue at Centrelink while lawyers turned opportunists look down on you from ivory towers like 307 Queen St, Brisbane.
As the World Bank notes, we are 65th when it comes to investor protections.
http://www.abc.net.au/news/2011-12-13/unisuper-members-at-risk-of-losing-super/3729518/?site=melbourne
Key fund's woes puts super at risk for thousands
By economics correspondent Stephen Long
Updated December 14, 2011 09:52:41
"A key scheme of one of Australia's biggest superannuation funds is short of money, leaving more than 100,000 people facing the prospect of having their super slashed.
At universities across Australia just about everyone from the boffins to the backroom staff is in a super scheme called UniSuper.
The fund has more than 450,000 members and about $30 billion in assets under management. Its members thought they were in a scheme that was secure but that is no longer the case. ...."
OCV
octaviar limited
