Superannuation choices/changes

[kissfan]

Hi all.

Just wondering how many here intend on changing super funds now that we have the choice (those of us that this applies to).

Have always found the subject of super a little confusing (like a lot of things, lol) and unsure of which would be a good fund to switch to, or whether or not to leave it where it is.

Then theres the fees etc to worry about .

What do others think?

Regards
Marty

 

[Sim]

I haven't done all the research yet (especially on insurance and such) - but I fully intend to move my super (assuming there are no huge surprises from my research) into a platform that allows investments into NavraInvest funds

 

[ani]

Hi all.

Just wondering how many here intend on changing super funds now that we have the choice (those of us that this applies to).

Have always found the subject of super a little confusing (like a lot of things, lol) and unsure of which would be a good fund to switch to, or whether or not to leave it where it is.

Then theres the fees etc to worry about .

What do others think?

Regards
Marty

Hi Marty

http://www.arf.com.au/

This has been one of the top funds for the last 2 years. I currently deal with about 15 funds for various employees and ARF is the best by far on fees and I think it has a balanced choice of options.

I don't have any tie up with them. Purely my opinion

cheers
ani

 

[bawley]

I have had afew years experience with Australian Retirement Fund (arf) as above. We were advised to use them by Daryl Dixon (prominent adviser/personality) he said that's where my staff's super is and they won't rob you. ARF have been easy to deal with - fees $1 per week(no kidding ) and all profits to members. I believe they won Fund of the Year 2 yrs in a row. Easy to switch between investment choices at no charge. User friendly member website. As an employer - our company, just me and partner, they have been good to deal with, and as an employee good too.

Previously (in the dark ages) have been with AMP, CBA and westpac and unhappy with them all

Cheers Bawley

 

[The Y-man]

Also consider pricing of Life/Disability/Income Protection insurance if they are currently offered by your super fund.

You may find that premiums are higher (or lower!) if you strike out on your own.

Cheers,

The Y-man

 

[kissfan]

Also consider pricing of Life/Disability/Income Protection insurance if they are currently offered by your super fund.

You may find that premiums are higher (or lower!) if you strike out on your own.

Cheers,

The Y-man

This was one of my concerns actually. Does the AFR fund mentioned here a couple of times already cater for that?

Better check out their website.

Regards
Marty

 

[Garry K]

Don't get too hung up on the fee issue. It is important, but not everything.

The issue that will have the greatest impact on your outcome is asset allocation. ie what asset you invest in - cash/fixed interest/property/shares.

You can have a fund with the lowest fees, and the best performing Balanced Fund, but of it avareges 4% less than an average share fund, you have to ask yourself, am I in the best fund for me?

Eg.
Morningstar Wholesale Multisector Balanced index 10 year average 8.57%
Morningstar Wholesale Australian Equity Index 10 year average 12.76%
S & P/ASX All Ords Accumulation Index 10 year average 11.42%

Now, share funds are not approriate for everyone, but it demonstrates my point.

In regard to insurance, Chant West just release a study result, which showed that often the Industry Funds insurance was more expensive than insurance offered by the commercial funds. Don't move any insurance though until you have a replacement policy signed, sealed and delivered.
Having said that, some people can get insurance through the bulk offering in an industry fund, that they could not get (due to health issues) anywhere else.


My disclaimer follows. Don't take this as advice. I don't know your circumstances.


GarryK

 

[The Y-man]

Having said that, some people can get insurance through the bulk offering in an industry fund, that they could not get (due to health issues) anywhere else.


GarryK

Great point! Man alive, don't I know about that one Paying double premium compared to everyone else is not fun.....

Cheers,

The Y-man