Return to main website
Call Us 1300 300 922
Contact Us
Mybudget
Super-duper or drooper: How does your superannuation fund compare?
By Tammy may


When was the last time you checked how your superannuation fund is stacking up against all the other funds out there? Comparison ratings for 2012 have recently been published by a number of different sources.

Chant West offers a big picture comparison list that takes into account fees, investment performance, organisational strength, member services and administration. It rates managed funds using an apple system, five apples being the best. How does your managed fund compare?

Chant West also offers a more detailed comparison of fund performance for the two most popular investment categories: Growth and Conservative Growth. Comparisons are tracked out to seven years.

Other services that compare superannuation funds include:

Experts recommend comparing your super fund against industry benchmarks at least annually and keeping your eye on its long-term performance. If the fund has been consistently underperforming, it might be time to shop around.

Your employer may suggest a fund to you, but most people have the right to choose their own super fund. Changing funds (also known as “rolling over” or consolidating) has become easier. Check with your fund to see what it involves. Many funds provide free investment planning services where you can talk to somebody about your options.

There are some good resources on the net that explain how superannuation works and the difference between the types of funds available. SuperGuide.com.au is a good place to start. Their article on ‘Who’s Who In the Super Zoo?’ is a simple map to understanding all the different types of super funds out there.

The Federal Government’s MoneySmart.gov.au website also has some good resources about choosing a superannuation fund.

By the way... You may have recently heard that the government is going to take more responsibility for lost superannuation funds. The idea behind it is to protect unclaimed super from being chewed up by fees and charges. It’s suggested that nearly half of all working Aussies have unclaimed super funds because they’ve become uncontactable after changing their address or name. To see if you’re one of them, try the Australian Tax Office’s SuperSeeker.

We're here to help
Our clients say that we are ‘life changing.’ This could be your story too.
Let's Talk
Account modal exit cross