Sorting out Superannuation

Today I tried to tackle the superannuation and sort out my options.
The recent changes to super in Australia seem to make it a much more attractive option. This is possibly the last year that I will be eligible for the co-contribution. So far I have put in about $400 this year so I need to try and add another $1100 before 30th June. It can be worth up to $1500 which I got last year so I will find it somewhere.

I also need to look into super funds. At the moment I am with an ANZ fund but I want to look at the industry super funds. I originally tried to join one of those when I went back to work about 4 years ago but the employer was not exactly co-operative. When I retired from that job after 8 months I found out none of the payments had actually been deposited! I was so angry!

On my payslips the super was being taken out and I had completed all the paperwork with the super company. I was waiting for my end of year financial statement from the super company and when I rang them they told me I had no employer contributions only my own! I had to spend hours on the phones trying to sort it out. Eventually the deposited the money but really they should have paid me interest on it. It makes me cranky just thinking about it!. So yes the moral of the story is ‘trust no one!’

Back to industry funds… I am going to look into them and see if it’s worth changing or not. Years ago I was in the old State Super. How stupid was I to take my money out when I left work to have kids! A friend of mine I worked with left hers in there and later returned to work. She is now sitting on an absolute fortune! Leaving the old State Super scheme was a silly move but I was young and retirement seemed so far away!

Suddenly it is only a few years away and there is not enough money in there to live on let alone travel as I had planned.