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When you select a super fund, you're essentially deciding which company or organisation will manage your money. However, each fund also offers you some degree of personal control through the investment options they offer.
If you start a new job and don’t nominate a superannuation fund, there are regulations in place to ensure your money doesn’t end up in a high-fee account. Instead, it will be invested in an option within your employer's default fund that meets the government-endorsed MySuper standard.
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You’re probably aware by now that you can get insurance through your super fund. It’s a convenient and often cost-effective way to ensure financial protection for you and your loved ones. But is it the right choice? Let’s look at the benefits and drawbacks to help you decide.
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Superannuation does more than just fund your retirement. It's also a handy financial tool that offers an array of benefits like tax advantages, growth opportunity and even cheap insurance cover. So what are the major superannuation benefits? Let’s find out!
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Eager to access your superannuation but unsure about the timing?
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We often hear questions about the distinction between lost and unclaimed superannuation. It's a common point of confusion for many managing their retirement savings, but it doesn't have to be.
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Super fees are a pesky reality of growing your retirement savings, but with a bit of know-how, you can keep them from nibbling away at your future wealth. This guide helps you navigate through these superannuation fees, shedding light on how to cut down on them effectively.
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Understanding superannuation contributions is crucial for optimising your retirement savings. And it's not just about relying on your employer's mandatory contributions.
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For Australians considering the future of their superannuation, retail super funds provide an option worth exploring. These funds, operated by financial entities, offer an extensive range of investment opportunities, coupled with a suite of financial products. Grasping the intricacies of retail super funds is crucial for informed retirement planning.
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Considering boosting your super? You're not alone. Salary sacrificing into your super is a smart move many Aussies are making to secure a better retirement. It's not just about stashing away more cash for the future; it's also about smart tax moves today.
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Tax on super affects each stage of the super journey, from the initial contributions, through to the earnings phase, the final withdrawal of funds, and even after death. These tax implications are influenced by various factors like the type of contribution, age and income level.
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Have you ever spotted the term 'unique superannuation identifier' (USI) peeking out from your superannuation statements, or perhaps during the initial paperwork of a new job?
Spreading your retirement savings across multiple super funds is a surefire way to increase your mental load and potentially raise your fees. If that’s your thing, more power to you. But for the rest of us, consolidating those superannuation accounts is probably the smarter move.
It pays to know where your nest egg is being invested, not only to get the most out of your super fund in retirement, but to make sure the selected investments meet your expectations.
Found a super fund you like better? Making the switch is easy and you can do it all online! Here’s what to do…
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Travel and relaxation are commonly associated with retirement, but getting there usually takes some financial planning.
Though originally started for members of specific industries, industry super funds have since opened their doors to the public, becoming a favourite option for many Aussies.
Need to access your superannuation early but not sure if you qualify?
Have you ever considered that a few minutes of checking could unlock thousands of dollars in potential investment earnings? Believe it or not, the ATO has unearthed over 7 million lost or unclaimed superannuation accounts, amassing more than $16 billion. That's an average of $2,276 per account, which could blossom into more than $20k over 30 years based on a 7.5% return*.
When thinking about your retirement, one of the decisions that you will make for your superannuation is the choice between a managed fund, or a self-managed fund.
Are you just starting out in your career, or are you a seasoned expert within your field? Either way, you might be thinking about your super fund and what your employer obligations are for paying you super.
Ethical super funds have taken off as a way to align our values with our money: saving for retirement while saving the planet. But what is an ethical super fund? And how can you tell if it’s the real deal? Let’s find out!
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Curious about how much superannuation you need for a comfortable retirement? Many sites will toss you the average super balance for people your age and call it a day. However, averages aren't always helpful, as outliers can skew the figures, and they fail to indicate if the 'average' Australian is truly saving enough for retirement.
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ASIC’s Moneysmart recently convened a roundtable to work out why younger generations are feeling in the dark about their superannuation. Hint: funds just aren’t speaking the same language. And their comms skills? Mid at best.
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The ART High Growth option from Australian Retirement Trust (ART) is the highest-performing investment option over the last 10 years to 31 May 2024, according to the SuperRatings SR50 Growth Index .
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Did you know that from 1 July 2024, the superannuation guarantee rate increased from 11% to 11.50%?
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The AFR recently ran an article titled, "'It’s my money' attitude leading to illegal super withdrawals," followed by the subtitle, "Early release of super is only supposed to be allowed as a last resort. So why are so many people being approved to use it for dental work?"
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