Lesson #1: FeesLower 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.
Lesson #2: PerformanceYour 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.
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.