-15 percent interest TAIST Superannuation

[Maserati]

Went online to check employer contribution rececently and noticed large amount of money gone from my balance. Rang TAIST as there are no statements or current interest earning rates online. Last statement the interest was -6% which was apparantly average for most super accounts in Australia so didn't change funds. Statements are due June/July. But was told the current rate is -15%. Shocking, can't believe they let it get so low and am sure it must be below average. Don't trust the Trustees. Can anyone recommend a fund to transfer to (not self-managed), hopefully with a rate not below -4%. Am now wondering if many people are still with TAIST as they were going to close or merge a while ago. Thanks.

[MONK]

When I first looked at TAIST I applied for extra life insurance cover and guess what....they knocked me back!!.....and the reason...because I was a pilot!!!...So work that out!!...

[Snatch]

Due to a lack of commitment and focus on my aviation career :rolleyes: I have a couple of other super funds active as well as my TAIST account.

It is really disappointing to see the low return on TAIST BUT you will also know that TAIST has had much higher than average returns over the last 6-8 years than the other funds I am in.

Higher returns over the last few years plus the average knock down still puts you ahead of other super funds.

As Direct Anywhere said... get some advice from someone OTHER THAN a pilot! :=

[fmcinop]

You never look at just the last 12 months. You need to be looking at the last 5 years at least. If their returns have been good over the past 5 years and you have been happy with that,what's the problem. Every fund will have a bad year every so often. The trick is what they do during the down turn.

Last time I checked we were in the middle of a world wide downturn. Every fund is down unless your 100% in cash. If your returns have historically been good, then this is the perfect time to be putting extra money in. It's like a huge sale, everything at reduced prices. If you have lost 21% over the past 12 months now is not the time to be selling. Your loss is only on paper and will only become reality if you do sell.

I don't know the first thing about TAIST, maybe it is a dog? Get some good professional advice before you make it even worse.

[grrowler]

the current rate is -15%

Lucky my (former) employer didn't pay my super for the last 6 months then! :mad::ok: