An Australian teacher had her entire $500,000 superannuation nest egg vanish just two days before she was due to reach retirement age, after her savings were tied up in the collapsed First Guardian Master Fund. The case highlights the devastating impact of the fund's collapse on ordinary savers who trusted their retirement money to the scheme, with victims left facing financial ruin at the point they expected to retire in comfort.

First Guardian has been at the centre of a major Australian financial scandal, with regulators investigating how retirement savings were managed and invested before the fund's failure. The teacher's case is one of many emerging as affected superannuation holders discover their funds are largely or entirely inaccessible, prompting scrutiny of the fund's governance and calls for accountability from regulators and affected savers alike.