The industry super fund will launch an assistance program including workplace seminars and one-on-one workplace meetings to answer general questions and access to a free meeting with a financial planner to seek out specific financial advice.
MTAA Super chief executive officer Leanne Turner said the Fund would be working with GM Holden, suppliers and unions to ensure its members affected by the closures receive appropriate assistance as they deal with the redundancy process.
“This is a challenging time for those of our members impacted by the closure, which is why MTAA Super is committed to rolling out a range of assistance measures to ensure they have access to the information and advice they need to properly deal with the announced redundancies,” said Ms Turner.
“It is extremely important that all employees affected by these closures – both at Holden and elsewhere in the supply stream – receive appropriate advice.”
Ms Turner said as part of the process, MTAA Super will be hosting seminars at affected workplaces, meeting individually with members to answer their questions, and providing access to financial planners.
“We want to ensure our members are fully aware of the potential implications of their redundancy choices are able to choose the best solution for their particular situation,” she said.
Anthony, it’s more than just the hypocrisy of their advertising.
How does the provision of free advice to non members of the MTAA comply with the sole purpose test? I don’t believe retail and industry funds have no obligations in this area (SMSF’s sure do).
I do feel sympathy for the workers and them receiving help is a good thing.
It shouldn’t be funded from super fund members own reserves for non members (potential cheap clients).
Just confirms the hubris and hypocrisy that fuels the ISN sector.
Free to those who receive it. Paid for by the generosity of other MTAA members. Don’t you just love the generosity provided on their behalf. Will they get consent. Ah the catch cry ‘ only for the benefit of members’ . How could the provision of free advice to others be in the interest of existing members. Only in the minds of the ISFN members. Given the history of MTAA it has potential to add insult to injury.
Advice from the MTAA. Haven’t they suffered enough?
No doubt this will be worth every cent for the workers! MTAA will look after their best interest! Good luck, they will need it!
So what value do you put on FREE advice?
And is this “advice”conflict free as well?
Of the “best solutions” recomended ,it will be interesting to see if anything other than industry solutions are trotted out .
SMSF,trusts,? dont hold your breath …
Can we expext more Free advice seminars to Quantas as well Ms Turner?
Free advice eh? Where do I join the queue? and can I bring my mum along too?