Why it is important to change
The impact of fees and poor investment returns.
All superannuation fund trustees must formulate an investment strategy for all members to conform to the Superannuation Industry (Supervision) Act 1993. The issue for individual members is that not all superannuation funds have the same strategy and deliver the same results.
The Australian Prudential Authority released the performance data for superannuation funds covering the period 2004-2012.
This shows the differences between the top performing funds and the bottom performing funds was dramatic.
Why reducing fees and investing better can increase your super by over 41%
Using the ASIC calculator shows that consumers can improve their superannuation end benefit by moving from an old style super account to the newer “My super” default account and improve their benefit. Use our fee comparator on our web site to compare the fees of most superannuation funds in Australia. Please note that this is to be regarded as general advice only.