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Liberty Wealth Advisor

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djw
Regular Contributor
i agree - but maybe should learn to spell first - sue not sew
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Shard
Super Contributor
You cant sue them just for doing a bad job, they have to have done something illegal. If not, you have to prove negligence, which is pretty hard since your trustees come from your company and also lose out in the same way as you.
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topgun
Super Contributor
Well, perhaps sew is the right word (translated from Afrikaans)...he was sewed (literally) and now wants to get his own back - as long as he doesn't work for Singer or Bernina..lol. You go Snakepit!
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CHATTYCHAT
Super Contributor
Well said - are you Afrikaans speaking or have you been sewed and now knows the jargon?
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bangbul
Regular Contributor
You mean sewed through the ears?
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Not applicable
Okay, okay, I made a mistake - sew instead of sue. I was just worked up about the whole situation that my company will be responsible for me not being able to retire when I should. It sucks. How do I prove that they are a bunch of idiots that made bad investment choices? Surely there should be some kind of law that states that you are allowed to invest say, a third of your pension yourself as long as you deliver proof of that so that SARS can't grind you.
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CHATTYCHAT
Super Contributor
Sue in stead of sew :-) Some employers allow acces to PF admin platforms and they allow members to move away from the default option provided by the fund administrator. In sulch cases the employee takes full responsibility for choice of investment.
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Shard
Super Contributor
True, my previous employer used a platform where you could manage your own allocations amongst selected funds (the ones the platform had availiable). I now work for a company that consults and advises instituional funds on investment and risk, so no more choice, have to eat our own cooking. But thats where you need to make sure you've got trustees that know what they're doing or paying for the correct advice. I'm sure there is a regulatory body that you can submit a complaint to, I'm just a quants analyst but I'll ask one of our consults what course of action could be taken.
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geordie1
Super Contributor
bear in mind pension/provident funds invetements are governed by regulations-for instance they are only allowed to invest a certain percentage in equities around 60/65%,a certain amount in property,a certain amount in bonds and cash.It follows that most reasonable investors would tend to outperform pension/prov investment managers especially in a bull market-maybe not in a bear market.The fund I am in has given me around 14% a year for the last 30 years which more or less doubles your money every 5 years-for pension monies I am happy-my own portfolio has done better but then that is why I created it.
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