The fundamental role of your super fund is to help make you money securely and tax effectively over the long term to maximise your retirement savings.
Your challenge is determining which fund is most likely to make you the most money in the most secure way.
Specialist independent research is one way to decide.
We’ve also put together a few pointers that may help.
Compare funds
- Understand thoroughly the current fund you are in and what it really offers you.
- Compare investment options and long-term performance. (The Australian Government suggests at least a five-year performance evaluation.)
- Compare all the various fees charged. Look at administration charges, entry and exit fees (which can be substantial), plus ongoing management fees that can range from 0.5% to 2.5% per year.
- Compare insurance offerings.
- Compare other member services and benefits including helplines, websites and extras you value. Such as low-cost banking, health insurance and discounted travel and accommodation.