A new tool to help you choose your fund
The Government has also announced an online ‘YourSuper’ comparison tool to help you decide.
The YourSuper tool will provide you with a table of simple super products, called ‘MySuper’ products, ranked by fees and investment returns. The tool will also provide links to join these products.
It will also show all your current super accounts, and prompt you to consider consolidating accounts if you have more than one.
With these measures, the Government estimates a typical young Australian entering the workforce in their 20s could be around $87,000 better off at retirement.