The Pickering Post
Friday, 14th December 2018

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Larry Pickering

Four-time Walkley Award winning political commentator and Churchill Fellow, has returned to the fray over concern that the integrity of news dissemination is continually being threatened by a partisan media.


Better make your own pre-death arrangements where super is concerned because the only people making money now are the shysters in Parliament and those in control of your money. 

There are over 400 super funds in this country and plenty of so-called investment managers fighting like hell to gain control of the $2 trillion in super and $9 billion a year in increasing contributions, so guess why the fastest growing sector is in self-managed funds.

The superannuation industry is basically a scam providing a “service” that is mandated by legislation but incredibly the fees demanded are unregulated. 

Investment in shares, property, private equity, hedge funds, bonds and cash, are used by expensive managers charging unrestrained fees for each category (depending on your profit of course).

The Bureau of Statistics claims the average life expectancy for males is now 79.5 years and for females 84 years. The anti-smoking campaign has reduced smoking down to 20 per cent of the population but meanwhile the incidence of cancer has ballooned, mostly due to breast and prostate cancer. People are still expected to live longer and on ever more meagre incomes.

Assuming a retirement age of only 65, up to 20 years of financial support will be needed until death, and it’s unlikely super will suffice in any case. 

The recent trade union royal commission uncovered evidence that a union slush fund had been created for Bill Shorten's campaign to become leader of the Labor Party. 

Among a litany of revelations, it was demonstrated that the largest donation to this slush fund had been received from an industry super fund...none other than the Labour Union Co-operative Retirement Fund.

The rorts involved in union-managed super funds are manifold including the Health Services Union HESTA (and we all know about the shysters running that union with one ex-ALP President still sitting in gaol over a missing $20 million).

On August 18 last year, HESTA announced that it was withdrawing members’ investment funds from Transfield Services because Transfield was running regional processing centres on Nauru and Manus Island... clearly an ideological decision.

Transfield’s lucrative detention centre contracts, worth $1.2 billion pa, had helped it to achieve healthy shareholder returns. The resultant heavy losses reduced returns to a paltry 1.3 per cent for the 12 months to June 2015, instead of an expected average of 10.1 per cent. 

The AFR reported at the time that, “This would be a relevant consideration if the fund was being run as a financial services agency rather than an ideological trade union plaything”.

Unions represent a mere 14 per cent of Australia’s workers and are vastly over-represented and under-qualified as money managers.

But it gets worse, and it concerns something the government never mentions: 

The money members pay into super funds is money at its current value. A dollar earned and paid into a super fund forty years ago has since deteriorated in value due to decades of inflation. 

The money you receive back is worth less than half what it was when you contributed it to the fund way back 40 years ago.

So fund managers are investing at the current dollar value but are still creaming their excessive percentages in fees at today’s value. 

Then they reluctantly return what they want of your already devalued money.

The Government and the Opposition are fully aware of these dishonest practices but will continue to find ways of ripping off contributors, and retrospectively.

So don’t trust super funds or governments or the union controlled Opposition. 

For the last 200 years, real estate has appreciated in value at an average of 12 per cent per annum... if you extrapolate that back to the UK for another 200 years, the average increase remains the same 12 per cent over 400 years. 

So, is it best to purchase an investment property? Not really.

You see whatever you can legally do to provide for your retirement the government will always find a way to get your nest egg back from you. And they will probably make it retrospective. 

There is only one way to beat the bastards... start chain smoking today and hope you die sooner.

Oh, hang on, they have already got at the smokes haven’t they?

Hmmm, and the $80 billion Shorten wants to spend on health will be filtered back down to the unions again, as it was in the car industry and it’s about to be in the submarine industry.

Good luck fellas.


"The money you receive back is worth less than half what it was when you contributed it to the fund way back 40 years ago” - not if the investment vehicles have been successful. On the other hand, unless you have a SMF, you are at the mercy of the fund managers.

Bloody pollies. All bastards who have been eying a way to dip their snouts into the super trough for years. Labor started the charge last election by proposing a tax on super earnings, but the Liberals held off such a move and won the election. Is it not amazing this election both parties are after a grab at super. Backroom deal methinks?

the Govt and ASIO have banned ANY monitoring of islamic mosques..because, according to the ASIO Chief, Clueless Lewis, 'there is no such thing as Islamic terrorism'...and 'islam is the greatest faith this plant has ever seen'...both major parties endorse this well as fund all the mosques...the govt has also legislated to force Christians to hand over their churches as mosques when required by the Moslem Mafia...without complaint

Good point, Radar. How funny would that be? :-)

Correct G, they toss these lies out there so the Stringys of the world can run with the bullshit. Like advocates, how can any sane person believe the shit that comes from their minds? They should be monitored and every visit to a country shopper recorded. They're all country shoppers in my view, they are guided by the shit of this nation, "advocates".

Stringybark----if you knew anything about Victorian politics you would know that the reason to not build the East West Link by your man Andrews was to get Green preferences in inner city seats at the last election. The little CFMEU puppet Andrews does not give a sh-t about the punters in the south eastern suburbs, but only his self gratification. He is a pox on society with his political science degree, and never doing a real job outside the Labor party rat pack. .

Electrical ? ... that is the story they feed the sheeple

The media and authorities can no longer be trusted ... they've told one lie too many

When we can see for ourselves ..........

Thanks ChrisC.

You are being cryptic my old friend, is there a need for the cone of silence chief ? Or shall I ring you on the bat phone Commisioner Gordon?

Might and power was by Zabeel and it won a Melbourne Cup. The sire.

Nazi ideas appeal to you I see. Happily the civilized world rejects them.

I thought about it Sandy and have no real idea other than whomever mentioned it may be fawlty.

Refugees / asylum seekers = Labor / Greens voteherd. Boats mean votes.

My advice was well intentioned. It's your choice not to take it.

before they cut your stupid head off''

Makes a change from making a fool of you then Disraeli. Since when was word of mouth the best publicity? If that were the case there would be a lot of advertising agencies out of business. You mob are a bunch of dreamers, why didn't you recruit from the socialists. they are the ones who need to change their ways. You lot never even thought about changing until you spat the dummy when Abbott got tossed aside, and then the Get up mob got to you and all of a sudden everything changed.

sub human - untermenschen - the German term for the Russians - the racism of fascism defeated by decent people.

Simon Brenehy of the IPA is pathetic. I thought the IPA was reputable outfit. You have Bridie Jabour(sanctimonious and adolescent twit) of The Guardian whipping his useless arse on The Drum right now. She says that refugees are great for Australia and entrepreneurial as we have seen with migrants from Europe and Vietnam. Brenehy said nothing and even seemed to nod in agreement! Too gutless or stupid to point out that Muslim refugees are an entirely different prospect - they don't share our values, are well over-represented in crime and incarceration statistics, over-represented in welfare costs, are misogynist and have demonstrably failed to integrate and even find gainful employment in many cases let alone become entrepreneurs.