I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

How to get Information about Superannuation

But at the same time, they try to stay away from giving information that serves as advice. In some cases, they will refer the question to the right organizations and relay the information to the employees. There are also cases wherein they instruct the employee to look for financial advice themselves.

Employers prefer giving information about limitations and regulations since such information are mostly objective. The majority of employers will utilize the ATO site for any information on the rules and approach the super funds head on for more detailed questions. Most of the time people are reluctant in providing advice on super especially when the queries come from small businesses.

Actively Searching for Information

The incidences of having seen the PDS is quite low. This is usually viewed as something that is too long and complicated to comprehend. They are also believed to be made up of jargon which makes them even harder to understand. While it cannot be argued that such documents are considered legal requirements to have such information, it would be better if they also contain a summary in layman terms so relevant information can be accessed in the familiar language. It was assumed that such information would compel both employees and employers to know their options inside the fund and to get the degree of control on the different aspects of the investment process.

The majority of the employers don't actively look for information on how their default super fund performs. They are usually viewed to be in the lower priority in the stages of business requirements. Many of the employers have various arrangements towards the business super funds to which they are not actively concerned of in performance since they think it to be part of the employee's job to look into the matter for themselves. Such attitude is backed up by the apparent lack of difference between super funds and super fund types. Most of the employers have not thought of changing the default fund, or changing default options inside the fund of their choice.

Voluntary Contributions

Almost all of employers give their employees the freedom to make voluntary contributions. In some cases, like those in bigger organizations, companies offer incentives to employees to make voluntary contributions like specific percentage limits of about 12% and providing co-contributions arrangements.

There are more issues and news about finding information about super. If you want more information about the subject, begin your search on our site at www.australiansuperfinder.com.au

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