Good luck getting real reform out of Labor/Greens or LNP, yet that's who the majority of Australians will vote for, yet again. The majority Australian voter is so very reliable - because you know he/she will always remain clueless, voting for the same major parties that progressively are selling out and destroying the country eg the scamdemic fraud, the Covid unsafe and ineffective jabs, the massive whitewash of the countless deaths and injuries those jabs have inflicted, the climate change scam and the massive waste of taxpayer funds on 'public/private partnership' ugly and inefficient wind and solar farms - the list goes on and on. BTW the big four banks will try to scam you into signing on for digital ID, on pain of cancelling your accounts if you don't comply. Don't comply. You don't need them. Go with the small member owned banks and keep as little as possible in your account - remember, their government allies have given them all the right to 'bail-in' when the next economic crisis comes.
Thanks George. Sadly this malaise will continue while we have a 'government' and 'opposition' that seem to be more alike everyday.
Is there any chance that you would consider reentering the federal system with a new party of like minded people, that might at least hold these politicians accountable, or best case, attain government in time?
It's not just the banks at fault, its ignorance on the part of home buyers, who foolishly let these loan brokers negotiate their loan from the banks. They get people to use their gross salary as the figure to support borrowing instead of working it out on their net salary which they have to live on. So many people fall into that trap, then wonder where it all went wrong.
Speaking of banks...a mate just closed down a business bank account today, because the business has stopped operating.
He asked for a letter from the bank stating that the account had been closed - just for records, and the accountant.
In part it says: - "Please accept this letter as a confirmation that the (business account) UAN XXXXXXXX (Account number) have been closed...."
Google UAN and it says - UAN is a 12-digit exclusive identification number assigned by the Employees' Provident Fund Organisation (EPFO).
And - UAN lets an employee contribute a portion of their salaried income towards EPF (Employee Provident Fund).
What the???
AI (if you can believe AI) states: -
In Australia, there is no "Employee Provident Fund (EPFO)" as the equivalent system for retirement savings is called "Superannuation" which is managed by various superannuation funds, not a single organization like EPFO; essentially, "super" functions similarly to EPFO but operates under a different structure in Australia.
Key points about the difference:
EPFO:
Stands for "Employees' Provident Fund Organisation" and is a government-run entity in India that manages the Employee Provident Fund (EPF), a mandatory retirement savings scheme for salaried employees.
Superannuation:
In Australia, "super" is the term for workplace retirement savings, where employers are required to contribute a percentage of an employee's salary to a chosen superannuation fund.
(ENDS)
Question! Why is/was this account associated with either EPFO or anything to do with super.
Good luck getting real reform out of Labor/Greens or LNP, yet that's who the majority of Australians will vote for, yet again. The majority Australian voter is so very reliable - because you know he/she will always remain clueless, voting for the same major parties that progressively are selling out and destroying the country eg the scamdemic fraud, the Covid unsafe and ineffective jabs, the massive whitewash of the countless deaths and injuries those jabs have inflicted, the climate change scam and the massive waste of taxpayer funds on 'public/private partnership' ugly and inefficient wind and solar farms - the list goes on and on. BTW the big four banks will try to scam you into signing on for digital ID, on pain of cancelling your accounts if you don't comply. Don't comply. You don't need them. Go with the small member owned banks and keep as little as possible in your account - remember, their government allies have given them all the right to 'bail-in' when the next economic crisis comes.
Thanks George. Sadly this malaise will continue while we have a 'government' and 'opposition' that seem to be more alike everyday.
Is there any chance that you would consider reentering the federal system with a new party of like minded people, that might at least hold these politicians accountable, or best case, attain government in time?
It's not just the banks at fault, its ignorance on the part of home buyers, who foolishly let these loan brokers negotiate their loan from the banks. They get people to use their gross salary as the figure to support borrowing instead of working it out on their net salary which they have to live on. So many people fall into that trap, then wonder where it all went wrong.
Speaking of banks...a mate just closed down a business bank account today, because the business has stopped operating.
He asked for a letter from the bank stating that the account had been closed - just for records, and the accountant.
In part it says: - "Please accept this letter as a confirmation that the (business account) UAN XXXXXXXX (Account number) have been closed...."
Google UAN and it says - UAN is a 12-digit exclusive identification number assigned by the Employees' Provident Fund Organisation (EPFO).
And - UAN lets an employee contribute a portion of their salaried income towards EPF (Employee Provident Fund).
What the???
AI (if you can believe AI) states: -
In Australia, there is no "Employee Provident Fund (EPFO)" as the equivalent system for retirement savings is called "Superannuation" which is managed by various superannuation funds, not a single organization like EPFO; essentially, "super" functions similarly to EPFO but operates under a different structure in Australia.
Key points about the difference:
EPFO:
Stands for "Employees' Provident Fund Organisation" and is a government-run entity in India that manages the Employee Provident Fund (EPF), a mandatory retirement savings scheme for salaried employees.
Superannuation:
In Australia, "super" is the term for workplace retirement savings, where employers are required to contribute a percentage of an employee's salary to a chosen superannuation fund.
(ENDS)
Question! Why is/was this account associated with either EPFO or anything to do with super.
Can anyone help?
Thanks
Very good article & 100% is what the process is. Never ever trust a bank! That Bail In process should never have gotten through parliament.