Aviation Super Fund Down again

[P-air]

Just recieved my statement from the aviation super fund, and it again has made a loss this year.

Any reason why this time??

Was seriously thinking of moving to a better performing super fund

Any one got idea's on which fund would be a better move to??

[Capt Fathom]

I think you will find that a lot of super funds are still in that position. Some have done better than others, but the majority are only now getting back into positive returns.

[Capt EFIS]

Yeah, it's a bit bloody annoying when I could of made more money by investing it in a term deposit. I think it's about time these super funds are more accountable for their performance (or lack of).

It is after all our retirement that they are dealing with. :(

[voodooman]

AMP poor effort yet again! More in fees than I made. At least the directors will retire well. Think I better save a bit more money and not count on having anything from them when I retire.

[emeritus]

Hey..guys n gals...interested to read your posts. Did not realise there was an aviation super fund.
However as a self funded retiree from oz aviation I strongly suggest you all look very closely at running your own super fund.

By not paying these people fees etc, etc you will find that you only have to perform half as good for the same result.

I am by no means a financial wizard but do not find it difficult to out perform the super funds. All the financial advice you need can be obtained from various experts. No different to relying on Meteorologists,Engineers,Atcos etc in order to commit aviation.

When I cashed in my super on resigning (AMP)..I was told by a colleague that his brother(an Actuary) had calculated that any one retiring at normal retirement age would have earnt about the same amount for AMP.

Remember ..you are the only one out there who is looking after your interests. Best of luck to you all.and remember...a superior pilot uses his/her superior judgement to avoid getting into situations that require his/her superior skill.:cool:

[P-air]

cheers emeritus,

How does one control ones own super fund.

Can you simply get your employer to pay super to a share holding fund, and you simply trade your own shares or, is their more to it than that. Or buy land.

[Jamair]

P-Air, me old - yer back! Where you bin bloke? Any updates on your superlative Log Book? Its a bewdy, mate.

Re the super, yair, I think you'll find most funds did poorly this year - mines down 11K!!! That's the downside of a hot economy and low interest rates.

Cheers!

[OpsNormal]

P-air. One needs to actually go and register and set-up ones own fund, as you are the manager of said fund, and as such make all the decisions where and in what you will invest.

Your accountant will put you straight, and if he wont, then give the Aus Tax Office a call. Sometimes they can be mucho-helpfull.... :O

[P-air]

cheers opsnormal, i think I will look into it

Yo Jamair, hows things.....not too much development on ye olde logbook of late.

[Airbornespanner]

This is in no way giving advise, but my "previouse" superfund lost me >$12000 in the last 18months my wife spat the dummy and we set up our own superfund, I know that times have been tough, but they could have put it in the bank and earned 3%. Any way we are now in control of our own fund and we have done a short term investment that will earn us >% $4000 in a 3 month period, we now have control of our affairs and will be looking at expanding on that. If you are interested you need to speak to you accountant if they are any good they will advise , if not look for an accountant that will.

[grrowler]

While talking about the Aviation Super, does anyone have a phone number for them, cos I'm outta there! The one I had was disconnected.

Cheers

grrowler

[Transition Layer]

g'day grrowler,

The number for The Aviation Industry Superannuation Trust is 1800 653 380.

hope all is well mate - will give you a call sometime, you still on your old mobile number?

cheers,
TL

[grrowler]

Hey TL dude!
Going sweet up here, hope likewise with yourself (sounds like you have to wear a tie in your current job :yuk: ) Give us a call, still on the same number.

grrowler