How much do you know about your super fund? What fees does it charge? Does its returns compare favourably to those of others? Does it offer you the investment flexibility you need?
If you can’t answer any of these questions, then you’re probably not alone. Many Australians still consider superannuation as a set-and-forget option when saving for retirement. But as the retirement income landscape changes, the onus for funding retirement rests on individuals even more, and being in the right super fund becomes ever more important.
When it comes to super, let’s not forget that you have a choice. You don’t have to join or remain in the superannuation fund your employer uses as a default, unless your EBA stipulates it. And if your current fund isn’t delivering comparatively strong returns or the fees are too high, then moving should be easy enough. Or if your fund has been hitting the headlines for all the wrong reasons, then perhaps it’s time to cut it loose and move to a more trustworthy fund*.
Choosing a fund that offers low fees and consistently strong investment returns is an effective way to grow your retirement savings. And while money is most definitely the name of the game, it’s important to be a member of a fund that understands the needs of its members, meets your investment goals, and offers products and services that can help you make the transition into the retirement phase of life as seamless as possible.
With over 2.1 million members and more than $100 billion in members’ assets, AustralianSuper has the size and strength to negotiate low fees and is run only to profit members, not shareholders. So why not see how your current fund compares?
*You should ask your super provider for information about any fees or charges that may apply, or any other information about the effect a transfer may have on your benefits, such as insurance cover, before making a decision.
This article has been sponsored by AustralianSuper Pty Ltd ABN 94 006 457 987, AFSL 233788, the Trustee of AustralianSuper ABN 65 714 394 898. The views expressed are those of YourLifeChoices and not necessarily the views of AustralianSuper. The article contains general information and you should consider if it is right for you.