How to choose a superannuation fund?

14th Nov 2009 by Tobias John Sterling

There are hundreds of superannuation funds in Australia, and choosing which one to trust your retirement savings to is no easy task. The best way to approach this choice is to do your own comparison between (to begin with) your employer's default superannuation fund, a different retail fund, and a different industry fund. You'll be able to find a super fund comparison worksheet on The Australian Securities & Investments Commission's 'fido' financial tips website (http://www.fido.gov.au/ and go to the section on superannuation). The worksheet considers things like fees & costs, insurance, and investment options for each fund. You can get the information you need from the product disclosure statements for each fund, all of which should be available online. This side-by-side comparison should help you to understand what the relevant considerations are, along with how some of the options compare on these different measures. Then you can either choose one of the three funds you compared, or look at how other funds compare with these first three.

This answer is the subjective opinion of the writer and not of FinancialAdvisory.com