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The Mother Lode

When I was working as a meter reader, my compulsory employer superannuation was originally paid into a Super fund of LIT’s choice until I nominated my own Super Fund.

Two weeks ago, I received a 5 page letter from the former Super fund saying they had made an error when transferring the funds and owed me money and would I fill out and return the attached forms.

I received a 6 page letter today confirming the transfer and that MP and I are now financially secure for the rest of our lives and we’ve been saved from the ravages of the financial crisis.

Okay, so it was only $5.17 but the 1 cent interest earned made us giddy with excitement.

Unfortunately, we can’t get too giddy at the thought of half a decent sized forest that went into notifying us.

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  1. june in florida
    August 7, 2009 at 1:59 pm

    A lady here had her electric cut off for not paying 3 cents, course the numerous letters sent to notify her of this gross underpayment cost 42 cents to mail. She was in hospital at the time so didn’t receive them.

    June – That’s just stupidity. When I worked for BIT, there was a minimum amount before you disconnected.

  2. August 8, 2009 at 11:39 am

    Red tape! It’s unbelievable it took so many pages. I hope you consider very carefully before you ‘blow’ that 1c interest.

    muscat55 – Hey, I’ve got $5.18 to blow!

  3. AZ
    August 9, 2009 at 2:05 am

    Wow $5.17 plus 1¢! Can you get one of them fancy coffee drinks with your financial windfall? Better yet spend it on gas so you can haul your new camper down to an exclusive vacation destination! No, no, give it to Ms. Muppet, and tell her to start a savings account because in 55 years some bank is going to send her a 12 page letter letting her know that after closing out her saving account they inadvertently left $5.17 cents in her account, plus 1¢ interest!

    AZ – Yep, will easily cover a fancy coffee. Muppet suggestion might be good and if you average about 5.5% over 55 years will be worth nearly $100 except by then it will cost that for a chocolate frog.

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