Letters - One size doesn't fit all
Dear Sir,
I am writing in reply to the Point of View article titled “The Aussie Super Pension Scandal” (Money Management, May 11).
Dear Sir,
I am writing in reply to the Point of View article titled “The Aussie Super Pension Scandal” (Money Management, May 11).
I have consulted with 15 state government employees regarding the First State Su-per offer. Fourteen have been advised to remain in the existing fund and retain their entitlements.
The one member whose case prompted me to switch to the new fund was a young policewoman about to leave the service to move to Queensland, with no intention of returning, and who was entitled to the increased resignation money as a non-preserved benefit.
She was looking for money to buy land to build a family home and decided the money now was more important to her and her husband than benefits in 28 years time, (or perhaps 33 years if retirement age is extended to 65).
After conducting a straw poll of my colleagues, about 75 per cent of our dealer’s recommendations have been to retain their existing pension entitlement.
Each individual cause still needs to be assessed on its merits. One shoe does not fit all.
Martin Barnes
Authorised Representative
Charter Financial Planning
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