SG Talk

SCY,  super fund in Australia collapsed.  U ok? They r just scams.

Quote:

Thousands of Aussies at risk of losing their super after collapse of First Guardian Master Fund

https://www.news.com.au/finance/superann...8576c02fa0

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Falcon Capital Limited, a Melbourne-based company, was responsible for the failed First Guardian fund and in May 2024, it suspended the processing of applications and withdrawals, stopping the majority of its investors from being able to access their retirement savings and switch them over to a new super fund.

Aussie authority alleged its director David Anderson, a board member of Falcon, poured millions of investors' retirement savings into his own failed property developments, craft breweries and to help celebrity chef Scott Pickett, of which he was a shareholder. Public court documents showed Mr Anderson moved $274million into offshore companies tied to himself.


https://www.ifa.com.au/news/35813-ventur...crossovers

My super ROI is still 8.75%

'Broken': 1 in 5 Aussies retire in poverty

“We are a rich country, but one in five Australians living in poverty in retirement is backwards. Australians view the country as being the lucky country, a fair country and an equal country. Australia’s broken superannuation and pension systems are condemning a growing number of retirees to financial misery in their sunset years.” Results from the latest census show Australian home ownership dropped 3 percentage points between 2001 and 2021. The 2021 census reveals a home ownership rate of 67%, down from 70% in 2006.


https://www.news.com.au/finance/money/no...e0e7da184a