Qantas Super Concerns
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Airservices - same same but different - they've had to raid the entire profit to fund their defined benefit super obligations. Years of plundering the savings thanks to great (lucky) earnings, and now things take a turn for the worse and there's no war chest.
Join Date: Oct 2005
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there seems to be a problem
with the QF superfund. one of the ratings site gives it a 40 where MTAA gets 110 and some retail funds run at 60. look at the comment from one comparison
A "reasonable value for money" superannuation fund that is performing well in a number of assessment areas but with average or below average features and/or performance in a number of other areas of our assessment. You should contact your financial advisor or this fund before making an investment decision.
need urgent attention by all members
A "reasonable value for money" superannuation fund that is performing well in a number of assessment areas but with average or below average features and/or performance in a number of other areas of our assessment. You should contact your financial advisor or this fund before making an investment decision.
need urgent attention by all members
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Complacency
For too long the QF Super Fund has underperformed.Barely meeting ASX benchmarks the fund is complacent.Members are also complacent sticking with the fund because it is seen as too difficult to move to another fund outside the "family".
MTAA is a standout fund and a few QF employees have moved and have been glad they did.
MTAA has been the standout fund according to Money Magazine for the last three years.
Time to re evaluate
MTAA is a standout fund and a few QF employees have moved and have been glad they did.
MTAA has been the standout fund according to Money Magazine for the last three years.
Time to re evaluate
Not if you went to cash early or middle of last year. Also helps to have a Super Fund that allows monthly changes of risk profile. Some Funds only allow one change per Financial year.
Join Date: Jun 2002
Location: Brisbane
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Makes me wonder why companies want to run their own super fund. They make great profits in the good times and then squeal like a stuck pig in the notso good times. It's just greed.
Defined benefit schemes are very dangerous in the current financial climate.
The company input is ACTUARIALLY determined to allow for the EXPECTED number of retirements/resignations. What if the airline goes tits up and ALL members need to be paid out? Is there ANY chance that this will happen @ 100c/dollar? In your dreams.
These are the ideas of a NON QUALIFIED pilot, a member of division 1, so get your own advice. I am out of QSL now.
The company input is ACTUARIALLY determined to allow for the EXPECTED number of retirements/resignations. What if the airline goes tits up and ALL members need to be paid out? Is there ANY chance that this will happen @ 100c/dollar? In your dreams.
These are the ideas of a NON QUALIFIED pilot, a member of division 1, so get your own advice. I am out of QSL now.
Join Date: Apr 2000
Location: Devonport Tasmania Australia
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A nice little sea anchor on the QF Super Fund is the older members they have inherited from TN.
The old TAA super fund was a beauty. My Dad was medicalled out at 50 something and elected to take the 75% of finishing class 1 wage, indexed for life.
That gave him an excellent and more than comfy income and he had the temerity to live to 81 years of age.
There are many more old farts like him who are getting the fortnightly cheque with a 744 on it rather than a 727 and having a high old time. Best thing they ever did was to reject migration to the "new" allegedly better scheme. By then Dad was out of Engineering and a qualified accountant and could see the benefits of styaying where he was.
I am sure somewhere in the bowels of Head Orifice there are men in grass skirts in a dark smokey room poking pins into efigies of the surviving TN super recipients.
Oh for a scheme like that today!! I want in!!
May they live for a long long time.
Best all
EWL
The old TAA super fund was a beauty. My Dad was medicalled out at 50 something and elected to take the 75% of finishing class 1 wage, indexed for life.
That gave him an excellent and more than comfy income and he had the temerity to live to 81 years of age.
There are many more old farts like him who are getting the fortnightly cheque with a 744 on it rather than a 727 and having a high old time. Best thing they ever did was to reject migration to the "new" allegedly better scheme. By then Dad was out of Engineering and a qualified accountant and could see the benefits of styaying where he was.
I am sure somewhere in the bowels of Head Orifice there are men in grass skirts in a dark smokey room poking pins into efigies of the surviving TN super recipients.
Oh for a scheme like that today!! I want in!!
May they live for a long long time.
Best all
EWL
Join Date: Apr 2000
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PRUNEZEUS
They were urged to move, but still had the option to remain were they were.
I can remember my father, who finished his TN years as a qualified acountant saying "They can blow this out their shell pink ears. I am staying where I am".
He also passed this on to the ex TN DPO guys when he was down here for some family do, and all elected the Commission's Wage.
The documentation presenting the new wizz-bang sceme had more spin than a Warnie flipper, and they were presented with bucketloads of "worst-case scenarios" that could befall them if they stayed where they were.
I am sure the documents floating around then would contravene just about every disclosure and clarity regulation in the book now.
Best all
EWL
They were urged to move, but still had the option to remain were they were.
I can remember my father, who finished his TN years as a qualified acountant saying "They can blow this out their shell pink ears. I am staying where I am".
He also passed this on to the ex TN DPO guys when he was down here for some family do, and all elected the Commission's Wage.
The documentation presenting the new wizz-bang sceme had more spin than a Warnie flipper, and they were presented with bucketloads of "worst-case scenarios" that could befall them if they stayed where they were.
I am sure the documents floating around then would contravene just about every disclosure and clarity regulation in the book now.
Best all
EWL
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The documentation presenting the new wizz-bang sceme had more spin than a Warnie flipper, and they were presented with bucketloads of "worst-case scenarios" that could befall them if they stayed where they were.
Join Date: Jul 2008
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super top up..
Qantas Airways Ltd. said Friday it has agreed to contribute an additional A$66 million over three years to top up its A$5 billion employee pension plan following the fall in global equity markets in recent months.
In a statement, the airline said the revised funding plan for the defined benefit divisions of the Qantas Superannuation Plan had been agreed with the plan's trustee after being prepared by an independent actuary.
The top-up payments are in addition to current contributions from the airline, which said despite a " challenging economic environment," the plan remains in a "strong financial position."
In a statement, the airline said the revised funding plan for the defined benefit divisions of the Qantas Superannuation Plan had been agreed with the plan's trustee after being prepared by an independent actuary.
The top-up payments are in addition to current contributions from the airline, which said despite a " challenging economic environment," the plan remains in a "strong financial position."
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not good enough
as i mentioned before the funds performance is very average. it needs a major shakeup in its approach. maybe they should outsource the fund to MTAA, at least as an industry fund their performance is exceptional.
I would be very careful of the MTAA fund. I think you will find a large part is invested in private equity which makes it a) hard to value in the current markets and b) if a large number of people want their money can they sell their assets to raise the cash
