To choose a superfund is more like choosing a life partner; this is due to the fact that if you have the right partner, you will be happy for a long time while living your retirement life in the most comfortable way. If you have set your funds on the wrong place, you will be in pain for life. Here are some of the ways where you can choose the right superfund for yourself.
- The first thing you should do is to check as to whether you can choose your fund or not. The point to note here is that some people who are covered by defined funds members or industrial contracts do not have this choice to avail this option. To see if you can choose a fund can be done by checking the taxation office or by checking with your employer.
- The next thing is to check the comparison of super funds. The important aspects to be taken into account here are the following;
– Fees: it is pretty obvious to find a superfund that has the minimum fee charges so you may have less cost and more returns.
– Investment Options: find out the available options for superfunds that matches your needs and wants and is perfect with the level of risk you are willing to take.
– Extra Benefits: figure out the benefits that come with superfunds. Your employer might give you more than 9.5% for specific superfunds or if extra payments are made yourself.
– Performance: performance of the funds play a major role in investment in any of the funds. Look for a fund options that have performed well in the last 5 years. Going for the fund that has performed well only in the last year shouldn’t be your option.
– Insurance: check out if any insurance coverage is provided and if it is, see how much the cost to avail this benefit is.
– Service: to get more details about the fund and the services they offer, check their website or call on their number.
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- If you want to find a detailed information about the superfunds, you should be able to get all the details about investment options, fees, other charges, benefits etc. in the below mentioned options;
– Official website of superfunds
– Calling the official number of superfunds
– Product disclosure statement, also known as PDS
Make sure you are looking at investment returns by having a comparison of the type of investment fund you are looking forward to invest in. one should keep in mind that comparing a balanced investment option while willingness to invest in a growth fund option or conservative option is a vague thing to do.