Driven by a desire to help others, Elaine worked in sectors like aged care and social services, taking on jobs the government is still desperate to fill.
But after nearly five decades in the workforce, she retired with just $45,000 in superannuation.
Is there a law that money managed by a superfund can not take more in fees than its generating in returns? I feel that should be a thing.
That’s not really possible.
In a year in which there’s a share market “adjustment” returns will be negative. Super fund staff still need to get paid.
Rightly or wrongly, it’s up to members to ensure that their fund’s fees are reasonable.