Super fund

> 10 years ago
Reply
Register to post, see what you've read, and subscribe to topics.
windsurftom
windsurftom
NSW
402 posts
NSW, 402 posts
19 Nov 2013 11:13am
Hi just started a proper job here and I need to get a super fund.
The company is pushing me towards one they must get a kickback from, but i thought there might be better and worse ones?
Are there any to avoid and can anyone recommend one?

Thanks, Tom
Beersy
Beersy
TAS
753 posts
TAS, 753 posts
19 Nov 2013 11:40am
I don't think they'd be getting a kickback. All employers need to have a superfund to red fault to if you don't have your own.. Usually it's an industry superfund , so you pay lower fees than normal.
I have about seven of them. They all seem pretty good
kiteboy dave
kiteboy dave
QLD
6525 posts
QLD, 6525 posts
19 Nov 2013 11:44am
One fund is easier for bookkeeper to manage. No conspiracy theory needed.

Beersy - I had about 17 at one point... down to 2 now, major PITA to collect it all.
Beersy
Beersy
TAS
753 posts
TAS, 753 posts
19 Nov 2013 3:54pm
I know what you mean. I've got all the forms, but I just look t the pile and think, future Brett can handle that- it's his money!
FlickySpinny
FlickySpinny
WA
657 posts
WA, 657 posts
19 Nov 2013 5:47pm
Ah Beersy....

Future Brett will be cursing you now if you don't get this sorted out. You're giving away stacks of cash to bankers by not sorting this out.

The problem is not just that you're paying seven lots of fees, but the fact that your super should be increasing by way of compounding.

The tiniest reduction in the amount of money you're putting in today (i.e. that extra six lots of fees you're paying) WILL have a significant effect on your total super.

If time travel gets sorted out any time soon you can expect a visit from a very angry Future Brett asking why you've effectively given $10000's to some banker because you couldn't be arsed with some paperwork.

Do yourself a massive favour - sort it out this week and get it over with. Good luck!

Harrow
Harrow
NSW
4521 posts
NSW, 4521 posts
19 Nov 2013 9:26pm
Beware the big commercial funds. The fees can be massive. My industry super fund gets good returns, and the admin fee and life insurance is very cheap. You do get to choose.
worrier
worrier
WA
726 posts
WA, 726 posts
20 Nov 2013 8:00pm
Funny thing I got my CBUS statement today. Actually posted a profit this year, fees are low so industry funds seem to be okay at the moment,
W
Please Register, or first...
Topics Subscribe Reply