Public sector employees (of which I am one) now have an opportunity to buy into a contributary super scheme, with the employer contributing dollar for dollar up to a ceiling of 3pct of salary.

Effectively this is a 3pct pay rise (muffled cheer), or a 100 percent return on contributions to the fund.

Downside of this is you have to give the money to either ASB, AXA or AMP fund managers. Now, I have voiced my opinion on the fund management industry in the past, and I am resisting (and feeling somewhat conflicted) at the thought of lining the pockets of these characters with my hard-earned cash. On the other hand, I'd be turning down effectively a 100pct return on contribution, before any returns paid by the fund itself (no doubt modest).

Part of me says take the 3pct and buy your own, but where can I find an investment with a 100pct return?

What should I do?