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Not so super Super SA

Discussion in 'Superannuation, SMSF & Personal Insurance' started by FillKa, 13th Jun, 2007.

  1. FillKa

    FillKa New Member

    Joined:
    13th Jun, 2007
    Posts:
    3
    Location:
    Adelaide
    Not so super Super SA

    Super SA, which invests the retirement savings of every singe public servant in the state, has $164 million in shares of cigarette manufacturer Philip Morris' parent company, Altria Group and $230 million in Exxon Mobil shares.

    Super SA currently does not have a SRI (Socially Responsible Investment) option available to its members. A SRI super option would give SA public servants the choice to avoid companies with little regard for the environment and human rights and support companies that are positive for society and the environment. Thereby encouraging the entire corporate word to become more environmentally sustainable and socially responsible.

    Public servants in all other Australian states and more than half of all Australians have access to a SRI super fund.

    The South Australian Government needs to introduce a SRI super option for Super SA members. At least this way SA public servants will then have the option not to support climate change sceptics if they choose.

    Please encourage as many people as possible to sign the following petition.

    It is important to get as many signatures as possible by 18th of July 2007 for a presentation to State Parliament on the 25th July 2007.

    Sign the petition

    Super SA Socially Responsible Investment Option - Online Petition

    or go to

    Greens Campaign

    For more information about this topic visit Climate Change Action

    Why individuals are choosing SIR Super
    At the individual level, it is about conscience and wanting to change the world or not wanting to profit from things they dont believe in. Often they want to send a message that the environment and people are important.
    The green life

    Where your money goes
    For a list of companies in which Super SA invests its members money, see: Super SA :: Funds SA top shareholdings

    Make your super choice a Green Choice
    www.acfonline.org.au/news.asp?news_id=456&c=6823

    Super for the future
    Super for the future -- WWF-Australia

    What is SRI?
    Ethical Investment Association

    Road to responsible investing paved with good intentions and a tidy profit
    Ethical Investment Association

    A sustainable future
    A sustainable future
     
    Last edited by a moderator: 13th Jun, 2007
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    4,623
    Location:
    Sydney, Australia
    Does the SA govt allow public servants to choose their own super fund ?

    I know NSW have recently opened up the options for most state employees to choose their own funds, which is a great thing (even if you choose not to move funds - at least you have a choice).

    I would suggest that SuperChoice is a far more important strategy to you than trying to change the policies of a single fund - you then get many more options available for where you put your money.
     
  3. bundy1964

    bundy1964 Well-Known Member

    Joined:
    22nd Dec, 2006
    Posts:
    351
    Location:
    Adelaide, SA
    With the likes of FGL, LNN, CCA, TAH, BHP, RIO and the spawn of the devil TLS in my portfolio, I suspect they will say I will burn in hell too. They pay the bills though.
     
  4. FillKa

    FillKa New Member

    Joined:
    13th Jun, 2007
    Posts:
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    Location:
    Adelaide
    No SuperChoice for SA gov employees

    No SuperChoice for SA gov employees

    Hi Sim

    Unfortunately SA public servants are not allowed to choose their own super fund. We are all mandated to use Super SA for the compulsory employer contribution portion of our super.

    If I had the freedom to choose my super fund I’d switch to “Australian Ethical Investments” (Australian Ethical Investment - Home) in a flash.

    I am stuck with Super SA wether I like it or not, that is why I have created a petition to encourage Super SA to establish a SRI option.

    Please sign the below petition

    Super SA Socially Responsible Investment Option - Online Petition
    Until Super SA creates a SRI option or the SA Government lets its employees choose their super fund, I will continue to be forced to invest my money in companies that I am ethically opposed to.
     
  5. KevinH

    KevinH Well-Known Member

    Joined:
    6th Nov, 2005
    Posts:
    101
    Ummmmm.. if you feel so strongly abut it, why not get a job outside the SA public service ?
    Or offer to contract your services back to them.
    Either way, you would then have access to your own super fund.

    WA govt has recently allowed employees to choose their own fund or even use their smsf.
    Guess we're not so backwards over here after all.
     
  6. Tropo

    Tropo Well-Known Member

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    17th Aug, 2005
    Posts:
    3,396
    Location:
    NSW
    "I will continue to be forced to invest my money in companies that I am ethically opposed to."

    I read somewhere that investing has nothing to do with ethics, religion and political view.
    If your opinion is different, do not invest in super but in IPs instead. :p
     
  7. FillKa

    FillKa New Member

    Joined:
    13th Jun, 2007
    Posts:
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    Location:
    Adelaide
    You are voting every time you shop

    A job outside of the SA public service. That would be nice. Unfortunately there is not much work in field outside of government in SA. Why do I stay in SA? Family both mine and my wife’s family live in SA and its nice to be next to loved ones.

    "investing has nothing to do with ethics, religion and political view."
    For me, everything has to do with ethics. Weather you like it or not every time you shop/ exchange money you are voting. By choosing one company other another you are choosing to support the ethics of that company. Price and quality are important, but for me future of the planet and society are more important.
     
  8. Tropo

    Tropo Well-Known Member

    Joined:
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    Posts:
    3,396
    Location:
    NSW
    "By choosing one company other another you are choosing to support the ethics of that company."

    Did you heard about Enron ?

    "Price and quality are important, but for me future of the planet and society are more important."


    Amen to this.