Back to Super tips
May 4 2022
Loading...

Back 2 School: What to consider when choosing a super fund

Who you choose to invest your super with is a big decision, so it’s important to do your research. Before you buy a car, new tech or book a holiday you’ll likely do some research — your super is no different.

To help you get started, here’s a simple guide on what to look for when choosing a super fund.
Nutshell on a light blue background Nutshell on a light blue background

Lesson #1: Fees

Lower fees could mean more money in your super. While you can’t avoid them altogether, some super funds will have lower fees than others. Fees can be a percentage or a dollar figure (or both) and typically come in the form of total annual fees and charges for certain transactions.

Our Fees 

Lesson #2: Performance

Your super money is invested for you by the trustee of your super fund, in accordance with the fund’s investment strategy. That is why it is important to look at a super fund’s long-term performance. The Government YourSuper Comparison Tool is a great way of comparing the performance of funds all in one place. 

YourSuper Comparison tool


Lesson #3: Investment options

Most funds offer a range of investment options ranging from conservative to growth. When choosing your investment option, consider:

  • Your comfort level with risk
  • How long you have before you retire
  • Your age
  • What you value, for example does your fund invest ethically.
Advice

Need help with your investments?

Rest members have access to our Investment Choice Solution tool which can recommend which investment option is right for you.  

Lesson #4: Insurance options

Some super funds offer insurance through super — typically death cover (also known as life cover), income protection and total and permanent disability insurance (TPD). When choosing a super fund, check the type of insurance offered, the level of cover and any insurance costs or exclusions that may come with it. 

Lesson #5: Additional benefits

Your super fund may offer additional services and benefits such a financial advice or discounts on retailers.

Here at Rest, we offer members exclusive discounts at a range of retailers, and Rest members can access financial advice through the Rest Advice team or the 24/7 digital advice tools. 

                        Want to learn more?

General

Did you know the Super Guarantee rate is increasing?

From 1 July 2022, the super guarantee rate will increase from 10% to 10.5%. Here's what it means.

Read more

Planning for retirement

Mortgage vs super: weighing up your options

Use extra funds to pay off your mortgage or invest it in your super? Let’s see how they stack up.

Read more

Starting out

Back 2 School: What to consider when choosing a super fund

To help you get started, here’s a simple guide on what to look for when choosing a super fund.

Read more