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This time last year my superannuation fund took a hit - Sure, I'm *nowhere near* being able to access it as I'm not old enough, although watching it tumble downwards was disconcerting nonetheless. Fortunately the backslide slowed then reversed and it's looking much healthier right now which is great. Usually I don't spend much time looking at it but a letter last week brought it to my attention *in a good way.* 

Several years ago I swapped out of a superfund owned by one of the *big four* banks into something with lesser fees and charges and strong growth - The previous fund seemed more intent on raping and pillaging my money so I swapped out my super funds and insurances, life and permanent disability, away and elsewhere. I thought that was the end of it but about a year ago I found out there was more to the story. 

<center>![Copy of Change (1).png](https://files.peakd.com/file/peakd-hive/galenkp/23xpPTJWEy43ShB7itZLps1PyXtwHNcz73wjmm3iaPSejF3TxgTE1USVB2rceeNhg79uj.png)</center>

As it turns out the *Australian Securities and Investments Commission* [ASIC] conducted a *review*, let's call it what it is though, an *investigation,* into six of Australia's largest financial institutions in respect of clients having not received services they had paid for. 

ASIC is a government commission that acts as a regulator of company and financial services and to enforce laws to protect consumers, creditors and investors - They carry a lot of weight and if fault is found and the hammer has to drop it drops hard.

In my case it was found that my superfund were paying *adviser service fees* to my financial adviser, who I also fired several years ago, without my knowledge and permission *and without me receiving those services.* The funds were being paid as *fees* from my account without being identified or specified as *adviser service fees.* Thousands were in the same situation and fortunately someone blew the whistle.

Over the last year or so I've had many letters from the bank that owns the superfund keeping me apprised of the investigation and even had several phone interviews in respect of the adviser and what he was or wasn't telling me. Those phone interviews were easy for me as I had received no services and had no meetings with the adviser.

The last call was to tell me that I was *not affected by the mistake* and I figured that was the end of it...Until last weeks letter. 

It turns out the bank was ordered to refund me the sum of $2,773.84 that was *"mistakenly paid to my adviser for services not received"* directly from my superfund. I read the 7 page letter a couple of times as I didn't believe what I was seeing but at the end it was true, I was refunded that amount. 

Because it is superannuation money and I'm not able to claim it through not being old enough under law the fund created a temporary superannuation account for me and placed it there - They had to do that as I had left them a few years ago remember?

Today I went online at my existing superfund and via the manual rollover tool advised my fund to claim my refund from the other fund and roll it into my existing one. Free money, that was mine in the first place.

I know I'm talking about small numbers here but I'm calling it a win. Corporations and financial institutions take advantage of the *little guy or gal* with impunity and mostly we have zero clue it's happening, as with my case and thousands of others also. To get a little back means a great deal. 

I don't know what that $2,773.84 will do for me as far as growth in the years to come but I'd rather have it in my pocket then leave it in theirs. Have you ever had similar happen? 

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Design and create your ideal life, don't live it by default - *Tomorrow isn't promised so be humble and kind*

<sub>Discord: galenkp#9209</sub>

<sub>Refunderisation is now a word, so feel free to use it when required, and the image is mine.</sub>


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