Superannuation is the third most important weapon you have in your ability to build wealth, behind your capacity to earn income and owning your family home. The issue is that because it gets compulsorily deducted from our wages each month, we often don’t give it the attention it deserves. It grows almost by stealth. But… Read more »
Most superannuation funds lost money in 2022. That’s just not good enough. In my mind superannuation fund returns were frankly terrible in 2022. Every working Australian pays big fees to have their retirement savings compulsorily managed by superannuation funds, which pay big salaries to their chief executives and investment managers for doing the work. These… Read more »
Stockspot’s 10th annual Fat Cat Funds Report has found that the right superannuation fund could make you up to $245,000 richer in retirement. OnePath, Colonial First State, AMP, and ClearView were the worst-performing superannuation funds in Australia, according to a new study from investment platform Stockspot. While Qantas Super, UniSuper, HESTA, AustralianSuper, and IOOF topped… Read more »
Imagine putting up your fees then back-charging your customers for the previous financial year? Hard to believe, but that’s exactly what Australian Super just did. Tell me any organisation that at the end of the financial year is able to get away with going back to customers and telling them they are putting up their… Read more »
This week Australia’s national savings scheme, the superannuation guarantee system, celebrates 30 years since inception by then Treasurer Paul Keating. Superannuation was a genius idea that has underpinned the wealth of every Australian and the stability of our financial system and economy. Keating’s legacy has been enormous. He also deregulated the financial system, floated the… Read more »
At what point does a self-managed superannuation fund (SMSF) become viable against the big funds? It’s one of the age-old questions of superannuation: at what point is it viable from a cost and performance perspective to transition to a SMSF? In years past, a general rule of thumb was that you’d need to have $750k-$1… Read more »
Keep ignoring your superannuation and you’ll most likely lose out. Instead, put a decent super plan into place and really optimise your nest egg. UniSuper opened its doors to everyone in July this year. The fund has been exclusive to the higher education and research sector for over 40 years to great acclaim, and now… Read more »
Thirteen of Australia’s 80 closely-regulated MySuper superannuation funds have failed the APRA performance test. There’s a fair chance you are among the one million people in them. The results were made public on Tuesday and handed to the funds on Monday. From here on — for the people who run those funds — it’s about to… Read more »
Each year your superannuation statement is one of the most important bits of paper you’ll receive. Here’s our jargon-free guide to help you read your super statement to ensure your fund is delivering what you need. The average Australian is among the richest in the world. Why? Because of the value of their home and… Read more »
Even though you may not own any shares directly, it is worth following the health of the sharemarket because your superannuation fund is doing it for you. The good news is that your retirement nest egg has certainly had a big boost from the booming sharemarket. The top 20 performing balanced option super funds all… Read more »
