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

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, some things to 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.

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.