Can I choose my Superfund?
Most people can choose which super fund they’d like their super contributions paid into. You can go with your existing fund, your employer’s fund, or choose a different fund. Your employer will give you a ‘standard choice form’ when you start a new job. This sets out your options.
What makes a good Superfund?
A good super fund should afford a number of investment opportunities, with options to suit your needs with minimal risk. Only compare funds that have similar investment strategies or those that have a similar mix of shares, fixed interest and cash.
Why do I need a Superfund?
Superannuation, or ‘super’, is money put aside by your employer over your working life for you to live on when you retire from work. Super is important for you, because the more you save, the more money you will have for your retirement.
What is an RSA Superfund?
An RSA is an account offered by an Approved Deposit-taking Institution (ADI). An ADI can be a bank, a building society, a credit union or a prescribed financial institution. An RSA can legally accept a transfer of funds from a super fund. An RSA is also subject to the same laws as a super fund.
Why can’t I choose my own super fund?
Most employees can choose their own super fund. But some can’t, and many don’t. As their employer, you must nominate a default super fund for the times when your employees can’t or don’t choose their own fund.
What’s the best Superfund for me?
Top 20 performing super funds (Balanced)
| Super fund | Investment option | 10 yr return (% per yr) |
|---|---|---|
| Hostplus | Balanced | 10.7% |
| AustralianSuper | Balanced | 10.6% |
| UniSuper | Accum (1) – Balanced | 10.6% |
| Cbus | Growth (Cbus MySuper) | 10.3% |
Which is the best super fund in Australia?
The Best Overall – AustralianSuper It’s Balanced Fund received the Finder award for the best Australian super fund in 2021 and has been one of the strongest performing super funds of all time.
How much super Should I have?
How much super do I need for a ‘comfortable retirement’? According to the Association of Superannuation Funds of Australia Limited (ASFA) Retirement Standard, for those wanting a ‘comfortable retirement,’ the average super balance at retirement should be around $640,000 for couples and around $545,000 for singles.
What is the best Superfund for me?
Top 20 super funds
| Super fund | Investment option | 1 yr return (%) |
|---|---|---|
| UniSuper | Accum (1) – Balanced | 12.5% |
| Cbus | Growth (Cbus MySuper) | 13.0% |
| VicSuper | FutureSaver – Growth (MySuper) | 14.8% |
| Sunsuper for Life | Balanced | 16.5% |
Which Super Fund is best 2021?
Best super funds
- Best ethical fund. Green Company. Australian Ethical Super Balanced.
- Best long-term returns. Finder Award. AustralianSuper – Pre-mixed, Balanced option.
- Best industry fund. UniSuper Balanced.
- Best lifestage fund. Virgin Money Super – LifeStage Tracker.
What is the best super fund in Australia 2020?
Best and worst performing growth super funds
- Australian Super – Balanced.
- UniSuper – Sustainable Balanced. 10.2%
- Fiducian – Balanced. 9.9%
- Aware Super – Growth. 9.8%
- IOOF – MultiMix Balanced Growth. 9.7%
- UniSuper – Balanced. 9.6%
- Lutheran Super – Balanced Growth (MySuper) 9.5%
- Victorian Superannuation – Growth (MySuper) 9.5%