I am slightly concerned about the fiscal health that Qantas mainline is in and the continuing downturn in world markets. These two can add some security risk to our Super benefits in the situation where Qantas the parent company has to periodically 'top-up' Qantas Super due to the defined benefit accounts of the fund. It is possible Qantas mainline does not have funds to accomplish this as they have been transferred to Asian agencies or insular subsidiaries
It would not surprise me if senior management arranged the chess pieces so as to avert any economic risk they may inherent from the responsibility of meeting the defined benefit payouts in the next 5-10years. We all know the pilots, cabin crew and engineers have a majority of baby boomers in Div 1 & 2 which transfer risk to the company. While world markets flounder these annual commitments are the responsibility of the company.
I don't suggest we 'get panic' but I might ask a few questions of the trustee should we hit another GFC in 2012. We also have the option of transferring funds to a SMSF or personal super accounts. If you do consider such I encourage you to seek professional advice.
I read this article today and pondered if we are all as safe as we think we are. Just like the professors thought. Some of them, Professors of Business?
Key fund's woes puts super at risk for thousands - ABC News (Australian Broadcasting Corporation)