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Yesterday I received a letter from my SuperAnnuation stating I will be getting an increase due to rise in cost of living.
Now for the shock it actually went up 89c per 2 weeks.

Because of this I now have to tell the Government my Super has gone up. This morning I drove down 2.5klm and waited for 15 minutes to be seen.
After they made the adjustments I am now getting 22cents per 2 weeks in my pension.

My big question with that big increase what do I do with it? It will not even buy me a cup of coffee or even a news paper.

As Marg and I often say we dont have a money problem at all we just dont have any money to worry about.

Have a look in [link=My Profile] http://www.fishprofiles.com/forums/member.aspx?id=1935[/link] for my tank info
Look here for my
Betta 11Gal Desktop & Placidity 5ft Community Tank Photos

Keith

Near enough is not good enough, therefore good enough is not near enough, and only your best will do.
I VOTE DO YOU if not WHY NOT?
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I just want to say one word to you: "plastics".

The cost of living went up 89c??? What planet do these people come from?

Lets see, 89c plus the 22c.... If you save up for the whole year you could get a small bag of fish food wafers

For animals, the entire universe has been neatly divided into things to (a) mate with, (b) eat, (c) run away from, and (d) rocks. - Terry Pratchett

The way our Australian sharemarket has been falling, I'm surprised you even got an increase from Superannuation in the first place.

Uggg! all that work for 82C!

I bet it'd have been more if they didnt' send the letter and just sent the money, that's a lot of postage. For the amount you're getting you could get a packet of 2 min noodles every few weeks....or maybe a gumball...with the price of gas it's going to be a while before you get back what it cost you to go have it fixed up in the first place!

I had transfered some of my savings over from the US when I moved, I still don't really understand the aussie super thing, guess it doesn't help if one doesn't have a job and can't see it in action.

^_^

Superannuation is just a compulsory retirement plan. Every employer is bound by law to pay into the fund. It is pro rata. That is, 7% of whatever your earnings are.

Needless to say some employers present your 'salary package' that includes this 7% and it makes it look like your pay is great! In reality, the banked amount is less spectacular. The superannuation goes into a separate account to your pay. You can not touch the superannuation fund until you are a certain age.

With an aging population our Govt made superannuation compulsory in an attempt to decrease the dependence on the Govt. Idea is to have a bunch of self funded retirees. However, many of the boomers worked many years in the times prior to compulsory super. So it is really the next generation along that will have a super fund to call upon.



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~~~ My fish blow kisses at me all day long ~~~

Every employer is bound by law to pay into the fund

I have personally known of some people who have paid their employers for years and the employers never paid it into a Super fund they went bankrupt so the employees never got any money or hope to ever see it again.

I was lucky I worked for the State Government 26years then they added on 50% of my previous work time as I had to work in my trade a minimum of 10years before I could become a trade teacher.

Compared to many other Super funds I am one of the lucky ones

Have a look in [link=My Profile] http://www.fishprofiles.com/forums/member.aspx?id=1935[/link] for my tank info
Look here for my
Betta 11Gal Desktop & Placidity 5ft Community Tank Photos

Keith

Near enough is not good enough, therefore good enough is not near enough, and only your best will do.
I VOTE DO YOU if not WHY NOT?
VOTE NOW VOTE NOW

I have personally known of some people who have paid their employers for years and the employers never paid it into a Super fund they went bankrupt so the employees never got any money or hope to ever see it again.

That's awful. Must have been in the bad old days! Anyone who has a superannuation fund will receive regular statements. It is up to individual to open those statements and read it to ensure the funds are hitting the account. My payslip states how much 'as gone into super. I can check it online if I want to.

*wanders off & searches for fund number to provide new employer*

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~~~ My fish blow kisses at me all day long ~~~

No Wish-ga one was less than two years ago and the other 3-4 years ago.
It was on our sons pay slip as well BUT he never checked with the Super company.
Have a look in [link=My Profile] http://www.fishprofiles.com/forums/member.aspx?id=1935[/link] for my tank info
Look here for my
Betta 11Gal Desktop & Placidity 5ft Community Tank Photos

Keith

Near enough is not good enough, therefore good enough is not near enough, and only your best will do.
I VOTE DO YOU if not WHY NOT?
VOTE NOW VOTE NOW