Are You in the Right Fund?

You have the freedom to choose the super fund that best suits your needs.

It’s difficult to compare funds as there can be so many differences. The super fund your employer offers may be the best alternative as they often negotiate discounts on your behalf.

There is a common misconception that ‘not for profit’ funds and Industry funds are cheap (or even free – which is certainly not true – all funds have fees of some description).

Of course the investment options offered and the performance of these investments must be considered, as fund performance after fees will determine how much super you accumulate over your working life. You will need to choose an investment option that is right for you and review your choice over time, as your situation changes.

Having life insurance within your fund is usually the smart choice, as insurance is often cheaper within super, however it is very important to consider the cost of premiums as they can be your greatest expense. Also, some of the less expensive insurance offers may be cheap because they don’t provide good quality cover. It’s important to make sure you understand what you are paying for and what will happen if you do need to make a claim.