Tips on Choosing Your First Super Account
Nov 10, 2022
When choosing a super fund there are some key things to look for that you might not even be aware of!
But that's ok, thank's to Australian Super we've broken it down to make it easier than ever to understand and what you should be considering when it comes to choosing your super fund:
Long-term performance
Choosing your first super fund should be made with a long-term view. If you start work at 18, you could be contributing to your super for over 40 years. So when you choose a super fund, you want one with a focus on long-term performance. AustralianSuper’s Balanced investment option has delivered an average return of 9.32% over the last 10 years1.
Competitive fees
A super fund manages and invests your money for your future and they charge a fee for this service. This can be a set fee, a percentage of your account balance – or both. When choosing a fund, you want to compare funds’ annual fees and their annual returns to maximise your super.
Industry fund vs retail fund
The main difference between an industry super fund and a retail super fund is how their profits are managed. Retail super funds have a responsibility to pay dividends to shareholders, while profits from industry funds remain in the fund for members.
Want to find out how AustralianSuper can work for you check out this useful information: https://www.australiansuper.com/compare-us/choose
You can also check out the differences between retail and industry super funds.
This information may be general financial advice which doesn’t take into account your personal objectives, financial situation or needs. Before making a decision about AustralianSuper, you should think about your financial requirements and refer to the relevant Product Disclosure Statement available at australiansuper.com/pds or by calling 1300 300 273. A Target Market Determination (TMD) is a document that outlines the target market a product has been designed for. Find the TMDs at australiansuper.com/tmd.
Sponsored by AustralianSuper Pty Ltd, ABN 94 006 457 987, AFSL 233788, Trustee of AustralianSuper ABN 65 714 394 898.
