sfreq

Hi.

Could anyone guide me as to how best one could select a super fund? Thanks.

Sfreq.

knockoff nige

I keep getting told that the industry super fund in which you work is the best. Maybe they dont have fees and stuff.

ABCDiamond

Their fees are lower, as they don't pay commissions to any agents.

If their investing skills are the same as the others, then the returns will be better with the lower fees.

If Not..... ??

Swerv-o

I went with Virgin. They have low fees, and the fund management is done my Macquarie bank, so it was the best of both worlds...


S

Wol

The title "The Millionaire Factory" isn't applied to the customer, you know - only to the (still employed) MacQuarie insiders <g>.

Swerv-o

yeah, but they can't be doing any worse than anybody else.

Can they?


S

jimbo_d

with the amount of people they're firing i'd say they aren't doing too well, neither are the rest mind you. the compulsary super contribution right now is a total waste of money, you may as well set fire to that 9% the way super funds have performed over the last year. by june i'd lost a third through amp, and paid them $800 for the privilage! i imagine by now that will be 2/3. i'd be better off leaving it in the bank. stupid bankers deserve to be out of a job now. i feel sorry for all those who last year took advantage of the governments 1 year tax free con to put loads of money into their supers, only to lose it all, people even borrowed money to do that. at least people who gamble with stocks know they're gambling, people believe that by saving for pensions and super funds they're doing the right thing because the government says so. time and time again a scandal or financial catastrophe wipes out the prudent.

harrip

I went with Australian Super and so far happy with them. They offer a useful tool where you can compare them to other funds at http://www.australiansuper.com/about...liansuper.aspx

ABCDiamond

Just about the Lowest Fee super fund, available for anyone to join, would be the:
First State Super Personal Division 0.41% TER fees

Choosing super is not an easy task.

Looking at the 2008 returns:

Virgin Super for example could be between +7.28% and -22.60% for the last year, depending on which of their options you took.


First State Super could have been between +6.2% and -17.1% for the last year, again depending on your options.

Some Benchmark figures are quoted as being between +12.73% and -18.76% for the last 12 months.

sfreq

Hmmm... basically looks like having to select a fund where I'll lose the least amount of money! And I thought that this was for post-retirement security. LOL!

Thanks for the link Harrip. Will go through it.

ABCDiamond

You should have been here in the first year of the Compulsory Super.

Even though the funds made a profit, almost all of them charged fees that exceeded the profits, and most people ended up negative !!!

Reasonable

[QUOTE=jimbo_d; the compulsary super contribution right now is a total waste of money, you may as well set fire to that 9% [/QUOTE]

You could choose a cash option!

ABCDiamond

That means people having to make choices for themselves, most people like to rely on the experts, so they have someone else to blame.....

Using the same principle, I always let my wife make all the decisions, and I am never at fault

datamile

Come off it, it's still your fault, you should have spoken up etc...

sfreq

Hey this site is fantastic! Thanks a ton.