4th Jan 2019
Why your super fund is set for the worst year since 2011
Author: Ben Hocking
Super set to post a shocker

Super members are at risk of their first annual loss since 2011, after recording a third consecutive month of negative returns in November, as market volatility continues to test global markets.

The latest data from superannuation research house SuperRatings reveals a negative return of -0.6 per cent in November for members invested in the median balanced option. This follows a decline in October of -3.1 per cent and, to date, brings the calendar year return for 2018 to just 1.8 per cent, with ongoing market weakness in December likely to eat away at what is left of super’s gains through 2018.

Members invested in the median growth option are now sitting on an annual return of 1.2 per cent, while those with 100 per cent exposure to Australian equities suffered a steeper decline in November of -2.4 per cent, pushing them well into negative territory for the year to date, with a total return for 2018 of -2.4 per cent.

Meanwhile, despite suffering heavy losses in October (-5.8%), and smaller losses in November (-0.4%), members invested in the median international equities option have experienced returns for the year of 2.1 per cent.

The last time super members experienced an annual loss was in 2011, when the median balanced option returned -1.9 per cent, while the median Australian equities option suffered declines of nearly 10 per cent (-9.6%) and international equities dropped -6.7 per cent over the calendar year.

Despite the declines, super members remain well ahead over a 10-year period, with $100,000 invested in the median balanced option in November 2008 now worth $206,366, while the median growth option is worth $217,721 over the same period.

Those invested in domestic and international shares have performed even better over the last 10 years, despite a more volatile 2018 with $100,000 invested in the median Australian shares option in 2008 now worth $230,482 and the median international shares option rising to $238,925, over the same period.

Meanwhile, $100,000 invested in the median cash option 10 years ago would be worth only $130,549 today.

“Heading into 2019, it looks like members will need to get used to some of the volatility we’ve seen in markets over the past two or three months,” said SuperRatings sxecutive director Kirby Rappell.

“This is certainly a challenging environment for super funds.

“Share markets are under pressure globally, and recent data indicates that the economy is weaker than expected, with downside risks including a softening housing market having a real impact on confidence.”

How has your super fund been performing through this challenging period? Have you noticed the difference?

RELATED ARTICLES





    COMMENTS

    To make a comment, please register or login
    Old Man
    19th Dec 2018
    9:52am
    I have enjoyed the past year in this forum and I'd like to wish all of those with whom I agreed as well as those with whom I have disagreed a Merry Christmas and a Happy and Prosperous New Year. I respect all who air their opinions and I love it that we are all free to do so. It's wonderful being an Australian.
    Lothario
    19th Dec 2018
    10:16am
    Merry Christmas Old Man
    Rae
    19th Dec 2018
    11:09am
    I agree. Merry Christmas to All and wishes for a Happy New Year.
    Old Geezer
    19th Dec 2018
    11:15am
    For those who celebrate Christmas Happy Holidays. I don't celebrate Christmas myself but find it's a great time to clean the house and do some maintenance instead.
    1984
    19th Dec 2018
    12:05pm
    Merry Xmas & a healthy & prosperous new year to you OM & family.
    Let's hope 2019 is a better year for all of us no matter who we barrack for.
    Old Geezer
    19th Dec 2018
    12:07pm
    2019 will be very good if its better than 2018.
    Sundays
    19th Dec 2018
    1:14pm
    That’s nice Old Man. I enjoy some of your pithy insights. Don’t agree with everything, but that’s democracy at work. Merry Christmas to you and yours
    Gypsy
    19th Dec 2018
    1:24pm
    Couldn't agree more. A very Merry Christmas and a safe & Happy New Year to all.
    TREBOR
    19th Dec 2018
    1:58pm
    .. and the best of Irish whiskey to ye, Old Man.... busy days start tomorrow... school's out...
    Old Man
    19th Dec 2018
    3:08pm
    And sláinte mhaith to you Bob.
    TREBOR
    19th Dec 2018
    4:58pm
    It's a while since I heard Sláinte - the health will have to make its own mind up...
    Paddington
    19th Dec 2018
    8:22pm
    Merry Xmas and a Happy New Year OM!
    GeorgeM
    20th Dec 2018
    9:56pm
    Merry Christmas to you too, OM, and to all others who believe in Christmas.

    Regarding this article, many of the figures are quite meaningless if you are trying to understand what will happen in 2019 - as the article doesn't talk about the potential factors to consider. In any case, no one has a crystal ball, so use you own thinking (financial hat) based on your own unbiased understanding of international, national and fund-specific factors (e.g. Industry Funds do better, but pick the more stable ones).
    Lothario
    19th Dec 2018
    10:18am
    Yep industry funds will be all worse of by more than 10% but I bet they under-report their losses
    MICK
    19th Dec 2018
    10:52am
    Wow.....ignorance in the face of statistics. Pick up your cheque from Party HQ on the way home.
    You can troll, lie and deceive all you choose but the runs are on the board. Industry Funds outperform Retail Funds because THEIR BOARDS ARE NOT STACKED BY TOP END OF TOWN Thieves out to steal as much as they can.

    Have a nice Christmas OM...or whatever you post under.
    Old Geezer
    19th Dec 2018
    11:13am
    Well your industry funds aint doing too well now Mick. I'd say a minus 10% is now on the cards for the year.
    1984
    19th Dec 2018
    12:03pm
    My industry fund is still in front & far better than bank interest only, even with performances in October & November not being as good as the other 9 months.
    Don't know where you get -10% plus from as that's the figure from 2011 & not current & the performance over the last 10 year period has been quite good.
    Old Geezer
    19th Dec 2018
    12:06pm
    I think your industry fund is showing historical data from the end of June.
    MICK
    19th Dec 2018
    12:26pm
    Of course 1984. The above trolls are trying to outdo Donald Trump. They know full well the Retail Funds who help fund their services are DOA. Have been for a long time and the statistics over many years have proven the point.
    MICK
    19th Dec 2018
    12:27pm
    You can run OM/Lothario/Bludger/OG....but you can't hide.
    Old Geezer
    19th Dec 2018
    12:41pm
    Mick I don't have an money in those retails funds so no idea what you are on about.
    Not a Bludger
    19th Dec 2018
    12:51pm
    Right on, Lothario - and boo hoo, Mick.

    And, it will be double boo hoo for Mick if the ALP win and the union, thug boss mates get unfettered access to industry funds’ cash and legislate for same in line with ALP/union policies.

    Just the same as with union slush funds - members interests are definitely last if of interest at all.
    Old Man
    19th Dec 2018
    1:01pm
    MICK, please, I am my own person, I have but one identity in here (and elsewhere) and I am offended that you would think that I am one and the same as those you have mentioned. I hope that YLC can do a check on ISP data to prove my point.
    Sundays
    19th Dec 2018
    1:17pm
    My industry fund is doing OK. I track it regularly. There are always highs and lows. Some years have been outstanding. If I can get better than bank rates plus inflation, that’s good eneough.
    MICK
    19th Dec 2018
    2:38pm
    I'd welcome that. When posters use the same government dictated story line word for word one has to draw the conclusion that one person is posting under different names.
    Mad as hell
    19th Dec 2018
    5:07pm
    Not one bank-run retail superannuation fund has made it into the "top 10" list of funds — whether it be across one or 10 years.

    The top performers are all industry-run growth funds, according to the latest report from superannuation research house Chant West.

    Industry super funds also outperformed retail funds across every time period.

    In one month, industry funds returned 1.5 per cent, versus 1.1 per cent for retail funds.

    Across a three-year period, industry funds returned 8.5 per cent per annum, compared to retail's 6.9 per cent.

    Taking a longer term view, over 15 years industry funds returned 8.1 per cent per annum, while retail gained 7.2 per cent each year.
    ex PS
    25th Dec 2018
    2:57pm
    My Industry Fund is consistently in the five top performing funds. How many of those funds are not Industry Funds I wonder. Anyone who tries to tell you that there are investment funds out there that will always return a profit is either a liar or financially incompetent.
    floss
    19th Dec 2018
    11:30am
    All the best Gang.Yes Mick they even seem to hate father Christmas a bit sad really.Born to rule and don't know to go about it.
    Old Geezer
    19th Dec 2018
    12:08pm
    Christmas is just another day. I just love mowing my lawns on Christmas Day as that one of the best days to do it.
    OnlyGenuineRainey
    19th Dec 2018
    3:10pm
    Oh yes, that would be right. You would be one of those ignorant sods who take delight in annoying people with the noise of the mower while they are trying to enjoy Christmas Dinner. What a sick individual!
    Lothario
    19th Dec 2018
    3:35pm
    Rainey - I'm sure OG mows the lawn in the morning or afternoon, not in the middle of the night
    Old Geezer
    19th Dec 2018
    3:59pm
    Awesome mowing on a moon lit night as I hope Christmas is a full moon. Just providing music to gorge yourself by that's all.
    TREBOR
    19th Dec 2018
    5:00pm
    Marvelous night for a moondance with the Victa.... do you go bare-balls, OG?
    OnlyGenuineRainey
    19th Dec 2018
    5:06pm
    Lothario, I am sure not many people eat Christmas Dinner in the middle of the night. He's a public nuisance. Considerate people don't start lawn mowers at any time on Christmas Day - nor Christmas Eve, Boxing Day or New Year's Day. It's just plain RUDE and it brands you a disgusting anti-social moron.
    Lothario
    19th Dec 2018
    5:10pm
    Wouldnt bother me if a neighbour was mowing his/her lawn while I'm having xmas dinner

    I don't know why you get so worked up over little things

    There would be too much music, laughter and merriment in my house to drown out even OG's lawn mower if he was my neighbour
    OnlyGenuineRainey
    19th Dec 2018
    5:17pm
    Oh, here we go again. Selfishness and self-obsession. "Wouldn't bother me so stuff anyone who it does upset''. This society has really gone to the dogs. The selfishness is unbelievable. When I was growing up, people actually cared about their neighbours and showed consideration. Now, it's just me me me me me and bugger you. If you are upset or hurting, I'll cheer. If you are doing well, I'll try to find a way to bring you down. Sick society!
    Lothario
    19th Dec 2018
    5:21pm
    I actually really care for you Rainey. I wish you get to keep your franking credits with Shorten getting beaten at the elections

    I wish you get universal pension and its not just reserved for all the other bludgers

    Also wish we had the LnP in for 10 more years, so you get better tax breaks and your investments continue to grow and provide better returns

    Merry Christmas Rainey
    Old Geezer
    19th Dec 2018
    7:03pm
    OGR well Christmas is very boring so one has to do something to keep oneself busy. Bought 20 litres of paint but with all those holidays and good drying weather I think I'll need some more. Bunnings will be open all except Christmas day so just hope I don't run out on Christmas day.
    Paddington
    19th Dec 2018
    8:26pm
    I think OG is pulling the old proverbial lol
    OnlyGenuineRainey
    22nd Dec 2018
    1:11pm
    Well thankyou Lothario. That's nice. And Merry Christmas to you too. I hope 2019 is good to you. You are actually a lot nicer than the selfish elitist pensioners who want other people's lifestyles demolished unfairly - even if you are way too right-wing and I disagree with you often.
    mike
    19th Dec 2018
    11:32am
    Well, Share market has been going down since liar Turnbull's attacks on the big banks, now with Corrupt Shorten ( criminal corruption including fraud theft etc if there is any truth in scandals such as the Chicquita Mushroom saga) will introduce an end to the franking credit rebates which will hit all mum and dad shareholders and decimate all super funds. Self funded retirees will be the worst hit, but the Liberal Government is oblivious to the needs of seniors and is hell bent on losing the next election. Goodbye Liberal party and goodbye Australia. Shorten is a disaster.
    Old Geezer
    19th Dec 2018
    12:10pm
    Without control of the Senate Shorten hasn't got a chance of getting his non return of franking credits through. Labor will be a one term government as those Labor lollies are going to have a very sour after taste.
    1984
    19th Dec 2018
    12:10pm
    I think it's more to do with Trump & the USA v China trade as the stock market globally will dictate on how the Australian market reacts.
    Local issues will have an affect but smaller. Let's hope 2019 is a better year for all.
    Old Geezer
    19th Dec 2018
    12:27pm
    If Labor scraped their franking credit policy our market would rally 10% or more.
    MICK
    19th Dec 2018
    12:31pm
    mike - please have this conversation with me in 12 months time.
    In the meantime I'm a self funded retiree and the loss of franking credits will affect our income as well. Your criticism of Shorten avoids any fruitful discussion about the alternatives. Had 5 years of that and look what the current bunch rich men's rats has done to retirees. Attack after attack after attack. Get used to the idea they are going to put YOUR HOUSE into the assets test if this lot get back in....and much more. They're not finished with retirees yet.
    Rae
    19th Dec 2018
    12:36pm
    With global debt now amounting to hundreds of trillion there was always going to come a huge correction.

    Every time we do this we have a very bad recession. It's using debt instead of profit and income that brings it unstuck eventually.
    TREBOR
    19th Dec 2018
    2:01pm
    Poor widdle bankies... having to own up to doing WRONG and pay for it - the bustards are lucky not to be in prison.

    Did Malcolm tell them to do it? **rolls eyes**
    TREBOR
    19th Dec 2018
    2:04pm
    Franked credits - that's why promises and ideas are floated before an election, OG - in the knowledge that they may never be fulfilled....

    Get withthe program...

    Vote Trebor Party - a balanced economy with massive infrastructure - I'll be an Infrastructure Prime Minister (sounds familiar) - two lobsters in every pot and three for the unemployed - pensions and unemployment rates will be doubled - company tax will be cut to zero - five years off on full pay for both parents of a new child ............ wait a minute......... did someone say we don't hold the senate? How sad - can't do any of those things - hostile Senate you know... sorry... not my fault......
    MICK
    19th Dec 2018
    2:36pm
    Yes TREBOR. OG and Turnbull were crowing about how a banking RC was unnecessary. Can't you just see who OG is working for.
    Old Geezer
    19th Dec 2018
    4:01pm
    Banking RC was just a witch hunt that failed to produce any witches.

    Many people now wish it hadn't happened.
    TREBOR
    19th Dec 2018
    5:01pm
    .. failed to produce any witches.... the bloody lot bailed out before the proverbial hit the fan...... oh, the disgrace..... oh, what a lovely lot of golden parachute money..... if they were any lower they wouldn't need a parachute....
    Rosret
    19th Dec 2018
    11:54am
    What is this 2011 bit. They have been yo yoing every since the scheme began. Over the life of my super they have averaged 5% Compound ups and downs. But some schemes aren't very good at returns. It's a game and we are their pawns.
    Old Geezer
    19th Dec 2018
    12:11pm
    5% pa is terrible return considering long term share market and property are about 10% pa.
    MICK
    19th Dec 2018
    12:34pm
    Rosret - the whole thing about Industry Funds has NOTHING to do with unions in the mix and everything to do with keeping the greedy snouts of the top end of town out of the feeding trough holding OUR money. Unions on the Boards have achieved that so returns have been significantly higher than Retail Funds. That's why the government funded trolls on this website get so worked up when the black and white figures on fund performance are quoted. They don't have a leg to stand on so they resort to assertions and smear - the calling card of the LNP government at work!
    Old Geezer
    19th Dec 2018
    12:37pm
    Mick would I be happy with the performance of industry funds? NO. Remember if you have money in them you are paying for the unions to support Labor in elections which is very wrong.
    TREBOR
    19th Dec 2018
    2:07pm
    Loathie's happy with 3.4% from BHP... sucker.... in thirty years he'll own his own shares give or take inflation, losses and the fact that he lives off the returns so it doesn't build up..... a sucker born every minute.... ant and grasshopper...

    Ah - so business supporting Liberals to get into government is right, OG?

    You cannot be serious!!
    MICK
    19th Dec 2018
    2:35pm
    Ha ha ha. OG you crack me up. Keep running your government propaganda!
    Unions ARE the reason why Industry Funds do well...and the only COST is the normal wages cost of sending the union member to meetings. Not like the big end of town taking many $thousands for every meeting and then rubber stamping the next CEO pay increase deal.

    You are a troll on steroids. Zero credibility!
    Old Geezer
    19th Dec 2018
    2:38pm
    Loathie would have got a better than 3.4% from BHP as he would have made more than that in the recent buyback.
    Lothario
    19th Dec 2018
    2:42pm
    Trebor - you’re a moron
    Returns from dividends alone fiscal year is 10%

    Capital gains his year 5%

    Financial moron !
    4b2
    19th Dec 2018
    12:00pm
    This is a timely reminder about our so called economic managers in the Federal Government who have overseen this remarkable downturn in the economy, especially in the private superannuation arena. I wonder if the Government Super funds have suffered the same downturn. I suspect not. But then this would be nothing more than envy. As I have said before we need reform in the way our politicians are rewarded. As such wonderful economic managers they should have their super in the private funds also. Time to walk the talk.
    Old Geezer
    19th Dec 2018
    12:13pm
    Our problem going back to the Rudd era where they kicked the can down the road instead of letting the excesses flush out of the economy. The coming recession in Australia is now going to be far deeper than the rest of the world.
    Rae
    19th Dec 2018
    12:38pm
    Agree OG. We have far too much debt for an easy landing.
    MICK
    19th Dec 2018
    12:39pm
    OG - give it a break. Your employer has been in power for almost 6 years and nothing has changed other than our debt rising from $148 billion to $671 billion today ($513 billion according to the ATO at 30 June 2018).

    Here's my data:

    http://www.australiandebtclock.com.au/clocks

    The next thing the paid trolls will be dredging up is pink batts and school halls...again picking on the exceptions and not the rule. I have little time for the corrupt LNP and its representatives posting their lies.
    TREBOR
    19th Dec 2018
    2:09pm
    But.. but..... but... there's a terrific budget for all coming up.... haven't you been read the tame media?

    Thommo..... Thommo.. Thommo... Unions corrupt standover merchants ... Royal Commission to Nowhere said so in the media anyway ... Da Boats... Da boats.... Da Boats..... people smugglers under the bed .....
    Old Geezer
    20th Dec 2018
    10:48am
    Agree Rae our debt is way too high and many people are going to be badly hit by the next recession made so much deeper by the last one not flushing out the excess of the economic system.
    Blinky
    19th Dec 2018
    12:15pm
    Super is good x people who don't need a gov't pensions, but it's an oxy-moron x those who have a small super, i.e. $ 400k or less 'cause that money is seen as both an asset and an income. Because the asset threshold is $ 387k, if I am not mistaken, and considering that you have other small assets such as cars, furniture and some savings in the bank, the chances are the gov't will help itself to $3 out of every $ 1k you have over that threshold.
    In sum, those who havent bothered to work and built a super, receive a FULL PENSION,thank u very much!!! Those who have, are PENALIZED AND ROBBED of the money the so painstakingly saved x a better retirement and get a reduced pension!!! THAT IS THE OXY-MORON!
    I dont know how to get this across to pollies' minds, if anyone can, please do so!
    I am sure retirees would vote x any party who's prepared to solve this inequity.
    Sundays
    19th Dec 2018
    1:24pm
    I agree Blinky. One of the worst changes made by the Liberals with support from the Greens. No wonder people are spending on renovations and holidays.
    TREBOR
    19th Dec 2018
    2:12pm
    It would be if it was managed properly..... and the Social Securities fund absorbed into consolidated revenue went into the pot...... along with the Future Fund...

    Maybe if the Canberra Clowns would let super run a full 'lifetime' of 50 years it might have a chance to bear fruit.... and a solid economy employing everyone would help as well.... if everyone had a fair paying job there's be no reason to argue about Pensions v superannuation...
    1984
    19th Dec 2018
    12:16pm
    Big year coming up with a federal election etc. Let's hope after the dust settles 2019 will be a better year for all retirees.
    MICK
    19th Dec 2018
    12:40pm
    Lets hope Shorten amends the franking credit policy and introduced a threshold (around $10,000 in credits) before the credits cut out. Also, tie this to income so that the wealthy need no apply.
    Old Geezer
    19th Dec 2018
    12:43pm
    Mick franking credits need to be left alone. That no tax over 60 on super that benefits the wealthy needs to be scraped so people pay their fair share of tax. Have you noticed none of the wealthy are complaining about the franking credit policy? Most will just invest elsewhere but still pay no tax on their income.
    TREBOR
    19th Dec 2018
    2:14pm
    Franking credits are being left alone - unwarranted returns are being excises since they should never have been put in ....

    Besides, OG - didn't you say that Labor wouldn't get this one through due to a (wait for it - old LNP line coming up) Hostile Senate?

    Admit it - you're just here for the pointless arguments, aren't you?
    MICK
    19th Dec 2018
    2:41pm
    Yes OG. YOUR money coming from milking the public needs to be left alone.

    TREBOR - to be repetitive all of OG's comments are straight from the LNP handbook. Cash for comment! Propaganda on steroids! Try and get some logic out of the posts - zip!
    Old Geezer
    19th Dec 2018
    2:45pm
    Mick my comments are not any where near as political as yours. Note I don't vote as I have no political leanings what so ever.
    Lothario
    19th Dec 2018
    2:46pm
    Industry funds have been fudging their returns for years
    This year they will be making 15-25% losses but what’s the bet they will show a lower loss
    They report what their union thug bosses tell them to report
    TREBOR
    19th Dec 2018
    3:12pm
    Ya got some proof of that, Loathie? You're talking criminal actions here....... or sheer desperation on your part......
    OnlyGenuineRainey
    19th Dec 2018
    3:25pm
    "Franking credits are being left alone - unwarranted returns are being excises since they should never have been put in ...."

    WRONG WRONG WRONG Trebor. You just don't get it, do you. Franking credits are being left alone for the wealthy and manipulators who secured pensions they didn't need. There are no 'unwarranted returns'. Cash refunds are FAIR AND CORRECT adjustments of OVERPAID TAX. They are not some gift or rort. You pay tax you don't owe. You get it back in a fair world. But no in Labor's unfair world. In their unfair world you pay tax that is owed, it's credited against your final tax bill. You pay tax that isn't owed, SCREW YOU. You get a kick in the guts and a pile of abuse from greedy pensioners you are supporting to enjoy fatter incomes than yours.
    Old Geezer
    19th Dec 2018
    4:28pm
    Trebor there are $40 billion in franking credits. $35 billion go to high income earners who will keep them under Labor. It is the $5 billion from low income earners they want to keep. How is this fair?
    Sundays
    19th Dec 2018
    5:02pm
    OGR, can you not stop, look, listen. Words like ‘wealthy and manipulators who secured pensions they didn’t need, is insulting and untrue for the majority. Many, many pensioners have very small share portfolios. They bought them with their own money. Yes, under the proposal they will be exempt. You do yourself no favours.
    OnlyGenuineRainey
    19th Dec 2018
    5:13pm
    Sundays, ALL the pensioners I know who own shares are wealthy manipulators who secured pensions they don't need - and are taking expensive cruises to keep pensions they don't need. And many didn't buy the shares with their own money at all. They inherited them. They had them gifted to them by wealthy relatives.

    And what money do you think struggling SFRs bought with? Pie from the sky? But it's okay to rip them off, as long as the pensioner elite are exempt. Can't have people being self-sufficient and saving the nation a fortune in benefits. If they can do that, we need to take it all off them and make them poor.
    TREBOR
    19th Dec 2018
    5:38pm
    That's what Shortenski is after, OG.. he's just not a good sales zhe.... or whatever it is these days under the Alphabet regime.... use the correct pronoun or die, INFIDEL!
    Sundays
    19th Dec 2018
    6:22pm
    Come off it OGR. I did volunteer work preparing tax return for low income earnings for 12 years. A lot of it was completing Refund of Franking Credit Forms for pensioners. None of them had much, no fancy cars, clothes and no holidays. A few shares, a refund so bills could be paid. Far from the pensioner elite. There are also pensioners with part pensions, they have a bit more money and probably can save for holidays. They get the pension, they draw down from Super or investments for a small top up. Why are you so jealous of them. Your concern re Franking credit is well founded, but pensioners had nothing to do with the policy. It probably won’t get through, but you will still be jealous, ridiculous. It’s eating you up. Anyway, I’ve had eneough. It’s Xmas.
    Old Geezer
    19th Dec 2018
    7:06pm
    Sundays you didn't see them because they don't have low income health cards.
    Sundays
    19th Dec 2018
    7:31pm
    All pensioners, even part pensioners get a pension card from Centrelink which allows cheaper prescription and where I live bulk billing. I saw 100 pensioners a year minimum but you and OGR know more rorters than that and they show you their income even though you are not doing their tax returns. Amazing!
    Sundays
    19th Dec 2018
    7:47pm
    And... before you throw in the furphy of the $3M house whose rates and other expenses are paid by the kids, I don’t live in that sort of area. Houses that expensive are few and far between. I travel a lot, and see a lot of retirees but not too many pensioners.
    Greg
    19th Dec 2018
    10:01pm
    OGR - There's near 2 million pensioners in this country and I doubt you know them all so how the hell can you say they are "wealthy manipulators who secured pensions they don't need - and are taking expensive cruises to keep pensions they don't need"

    Maybe that's the case in the small circle you live in, but it's a big country and like I said near 2 million pensioners, they live in diverse communities and I'd have more trust in what "Sundays" says as that person has had 12 years dealing with 1,000s of pensioners.

    I can tell you for a fact that I won't be a wealthy manipulator, I'm retired, too young for a pension (57) and will be drawing down my assets to live until the pension is available, at that stage I calculate I'll be on a part pension for a few years then a full pension but still drawing down on my assets.

    Stop feeling so sorry for yourself, IF you don't get your franking credits refunded it won't be the end of the world, use your own assets to draw on and get a pension/part pension - then you can be one of those "elite pensioners" you always go on about, you know the ones that have it so good (according to your vast experience of ALL 2 million pensioners).
    Old Geezer
    20th Dec 2018
    10:51am
    Greg that non return of franking credit policy of Labor is very unfair and it's being supported by Labor lies. That's why I don't like it at all.
    1984
    20th Dec 2018
    11:02am
    Yes OG but not as unfair as Abbott & the LNP decreasing the pension by $3 in every $1k of assets, that was a 100% increase and affected far mor pensioners that the FC will.
    Greg
    20th Dec 2018
    9:49pm
    1984 - exactly, but OG doesn't acknowledge that or the other cronies who agree with him.
    OnlyGenuineRainey
    22nd Dec 2018
    1:03pm
    Actually, it's much more unfair because it targets largely the same people. Those who suffered have already contributed far more than their share to the budget crisis. They should not have to weather another much crueller attack. Also, the pension decrease was across the board - affecting all with a certain level of assessed assets. I don't condone it. It was VERY wrong. But Shorten is being an absolute hypocrite and grossly unfair targeting selected people on random political grounds and bribing others.

    Oh yes. 1984. The FC affects fewer PENSIONERS, and apparently that's all that counts. As long as the selfish pensioners are fine, the rest of society can go to hell. And then people scream at me for ''abusing'' pensioners. But robbing SFRs, wiping out their lifestyle, discriminating and abusing them - that's fine! No problem at all. Just look after the PENSIONER ELITE.

    Greg, I have NEVER said that ALL pensioners manipulate. I said a lot do. And Shorten encourages and rewards it, and therefore if he has his way many more will.

    Only the self-interested and self-serving respond as you do. I don't WANT a pension. And it's BAD FOR THE NATION if people have to spend their savings and there are more pensioners. I want what's good for the country. So why don't you STOP being a nasty selfish a-hole and ranting with self-serving crap and have some respect for people who worked hard and lived responsibly and have a MORAL right to benefit fairly.

    Governments urged people to make choices that were good for the nation, and it is DISGUSTING that some endorse pulling the rug from under them now and causing them unfair hurt for NO BENEFIT FOR ANYONE (except maybe devious political gain for Labor Party liars!)
    KSS
    19th Dec 2018
    12:42pm
    Ignoring the blatant scaremongering in this article (yet again), all this tells us is that super is for the long term and focusing purely on annual returns from one year to the next is practically meaningless. More than doubling your money in 10 years just by having it sitting in a super account is not to be sniffed at no matter how hard Mr Hocking would suggest otherwise.
    Old Geezer
    19th Dec 2018
    12:46pm
    Doubling your money in 10 Years is only a 7% pa return.
    KSS
    19th Dec 2018
    12:51pm
    Nevertheless a great deal more than the quoted figures of between 1.2 and 2.4% for the year in the article.
    TREBOR
    19th Dec 2018
    2:14pm
    Better than 3.4% on BHP....
    Old Geezer
    19th Dec 2018
    2:30pm
    If you bought BHP under $20 you would be doing very well.

    Just made a few thousand in the BHP buyback in the last few weeks too.
    Lothario
    19th Dec 2018
    2:43pm
    Ignore for moron OG
    The fool can’t do simple math
    TREBOR
    19th Dec 2018
    3:14pm
    So........ errr.... when were BHP shares lower than $20, boys? How many did you have then?

    Language, Loathie... language.. watch the insults.... Christmas is the time of giving and I WILL give it to you big time...
    Lothario
    19th Dec 2018
    3:31pm
    Here you go dimwit

    25/09/2018 - US 63 cents fully franked
    30/01/2019 - US 102 cents fully franked
    27/03/2019 - US 65 cents fully franked MINIMUM

    Total US 230 cents or AUD 3.15 fully franked = @ todays price 9.8% net or 14% gross

    I own 15,000 at average price of $23 so my yield is 19.56%

    Educate yourself Trebor - moron !!!
    Old Geezer
    19th Dec 2018
    3:55pm
    BHP was under $20 from Nov 2015 to Sept 2016 so plenty of time to buy them at a good price.
    TREBOR
    19th Dec 2018
    5:43pm
    Suk Din again - all info on the table....
    old frt
    19th Dec 2018
    12:53pm
    It will undoubtedly be worse from 2019 onwards without our franking credits.
    Three dollar Bill Shorten can look forward to another 500,000 plus SFR's re-arranging their finances to obtain a guaranteed for life , OAP ,currently $36,000 plus another $4,000+++ in discounted benefits, rates rego scripts .
    MICK
    19th Dec 2018
    2:48pm
    You have to spend the assets you own first old frt and I suspect that is the game.
    If you own an $800,000 investment property and sell it you might be up for around $80,000 in CGT. That leaves you $720,000.
    You then put this into an interest bearing account earning 3% and earn $20,000 pa. Meanwhile inflation eats away as you have to dip into your capital because you do not get a decent return. It will still last you say 10 years minimum. Then you are maybe 80 years old and want to access the pension.
    Guess what??? The family home is now in the assets test and you have to sell it and live off those proceeds as well. They have you!
    The real irony is that genY which wants to nobble its parents now get a zero inheritance. There is a God!
    Old Geezer
    19th Dec 2018
    4:31pm
    Mick I know a fellow who bought a house for $180,000 sold it for $450,000 and made a $100,000 loss. old frt might be able to do that too.
    OnlyGenuineRainey
    19th Dec 2018
    5:01pm
    It's simple, old frt. Just take a few very expensive cruises - or upgrade the family home substantially. You can maximise income by having no more than about $400,000 for a couple and claiming a part pension. Why have more when it just means a lower income, more stress and worry, and you are a target for stinking government and opposition theft?

    It's pointless saving for retirement because more than 100% of the benefit accrues to the government and all you get is unfairness and abuse.
    TREBOR
    19th Dec 2018
    1:58pm
    How is the bonus situation for the lairds on the board?
    floss
    19th Dec 2018
    3:00pm
    LOTHARIO just settle for a Sugar Baby for Christmas like one of your mates did and you are still a fool.
    Lothario
    19th Dec 2018
    3:32pm
    floss - now where is your christmas spirit

    you dislike me because I tell the truth. Thats ok
    TREBOR
    19th Dec 2018
    5:51pm
    Fear and Lothario in Lost Vagueness .....
    floss
    19th Dec 2018
    4:28pm
    Lothario I dislike people who are not fair dinkum and that just about fits you and O.G to a tee.
    Lothario
    19th Dec 2018
    4:29pm
    you must loathe yourself
    Old Geezer
    19th Dec 2018
    4:29pm
    No one is more fair dinkum than I am. Just ask my mates.
    TREBOR
    19th Dec 2018
    4:57pm
    Loathe? why..... that's YOUR monicker ......
    old frt
    19th Dec 2018
    8:21pm
    Mick, Already unloaded the investment properties (that's what you do when you have no other income in those years, helps keep the CG tax at a reasonable level) but I digress ,franking credits are the difference between a comfortable return on our super ,or an investment not worth the effort, that is, just sit back and take OAP and not have any concerns about market fluctuations . The OAP and $350000 in super ( equates to roughly $54000 p/ann. + benefits) is looking a better prospect than $900000 in super ($54000 p/ann. + NO benefits ) for a couple .
    The negative effect of the royal comm. has had a far bigger impact on our super than any other factor this year ,like it or not we all have a vested interest in a healthy banking industry .
    Adrianus
    20th Dec 2018
    8:45am
    Yep, the Banking RC was ideological pay back for the RC into Union Corruption. As a child in a tantrum Labor would rather destroy the economy if they cant make political capital.
    Retired Knowall
    20th Dec 2018
    10:09am
    So you guys were happy with the revelations of the behavior of the Banks?
    Old Geezer
    20th Dec 2018
    10:39am
    I agree old frt. Those who thought the Banking RC was a good thing must be now having second thoughts with the fallout affecting them personally.
    1984
    20th Dec 2018
    10:52am
    Adrianus, absolute garbage. Just like all the other rightie LNP trolls the top end of town, politicians etc can't do wrong even when they are corrupt & only work towards their own corrupt goals of money & power. Pathetic
    OnlyGenuineRainey
    22nd Dec 2018
    1:06pm
    And the selfish Labor Party supporters can't think past MORE FOR PENSIONERS and rob everyone else. Not a shred of human decency to recognize hypocrisy, unfairness, and overall social and economic harm - much less to show empathy and respect for people like Old ft, who are being threated with a disgracefully discriminatory and hypocritical attack for no better reason than that he was honest and diligent.

    Stinking lefties are so unbelievably greedy and self-serving. Pathetic.
    OnlyGenuineRainey
    22nd Dec 2018
    1:08pm
    Funny, though. The dim wits are putting nails in their own coffin and too dumb to see it. There will be way more abuse of power and corruption in response to the socialist agenda. Show a little fairness and respect and Labor could win over a large portion of the middle and get some of their more desirable policies across the line - but the idiots would rather completely alienate swinging voters and folk who could be easily swayed.
    *Loloften*
    21st Dec 2018
    5:26am
    Thx OM - hope u have a wonderful Christmas & a healthy & blissfully happy New Year.
    OnlyGenuineRainey
    22nd Dec 2018
    2:09pm
    What a sad indictment of Australian society when so many are so consumed with self-interest or envy that they want the needy to suffer more hurt.

    I am proud to be an SFR and have avoided manipulating to get the pension I could easily secure (and that would leave me much better off) because I have been down and out, and I want to see our social welfare system strengthening and doing more for those in genuine need.

    I oppose Shorten's lying and treachery because I have options. I CAN go on a pension and be better off. But those who are genuinely hard up don't have that option. And when 500,000 or so more retirees resort to pensions because of Shorten's theft and unfairness, and the incentive for younger Australians to save for an independent retirement is gone, there will be far less for the genuinely needy.

    I care about that. but it appears the self-serving already doing okay on pensions and consumed with hatred for people who they think might be a little better off - desperate to see them destroyed - couldn't give a damn about the really needy. Just as long as the selfish elitist have the satisfaction of hurting people they resent - for good reason or merely out of jealousy - the rest of the world can go to hell.

    Why are Labor supporters endorsing a policy that can only do harm? What on earth are they thinking? Can they not read and reason? Are they so stupid that they can't figure out that everything Shorten claims is an obvious lie?

    The middle class are propping up the budget. The rich will NEVER pay their share, and Labor won't make them, because the decision-makers ARE rich. They will never attack their own - and it's been proven, as they've had plenty of opportunity in the past and never have. When the middle class is also destroyed and driven into hardship, the poor have no hope. There's nothing left for them. But that doesn't stop selfish people wanting the middle class destroyed. As long as someone else is getting hurt and Mr Elite and Selfish isn't, all is good. What a tragic state of affairs!


    Join YOURLifeChoices, it’s free

    • Receive our daily enewsletter
    • Enter competitions
    • Comment on articles