I have a gripe about Superannuation.

I am with UniSuper, and have been with them since I started working at the university, since they have been the preferred agent by the university, and I normally have no issues at hand, but this statement, I do have an issue.

I guess I can blame the global markets and the major decline and crash value of the US economy that has sent the entire world markets awry for a while, but this statement that I recently received in the mail was the first where my fees outstripped my investment returns. My meager savings from my work added only $57.66 in my investment returns, but they proceeded to slug me $66.48 in taxes and $36.00 in fees, so not only negating my interest from my investment, but costing me even more. As a matter of fact, costing me to the point of the amount that was my investment return!

I mean, that is terrible, absolutely terrible. If I had the amount of money I had in my super in my ING account, I'd be earning more than that each month compared with how much I earn per quarter in my superannuation account.... This is why people don't like saving into super because in some ways, it really sucks balls, especially for the battlers like myself.

~shakes fist~ Stop stealing my money!