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

Issues on Super Information for Employers

To those who have selected the default fund, the majority had followed the advice of the account and did not make any further investigation on the matter. It has been acknowledged that data on comparative performance among funds and between funds variations were not popular, and people did not feel that obtaining such information would be easy.

Among the issues involved in comparing funds has something to do with the complexity of the system and the lack of a common baseline where an accurate comparison can be made. Varying fees, investment strategies and payments of commissions are all seen to add confusion in the comparison of funds.

How Difficult it is to Find Information on Super Funds

The degree of difficulty towards finding information on super funds depends hugely on the employer's financial knowledge. The ASIC and ATO sites were revealed as a source of some companies but don't seem to have the common source when it comes to the performance of super funds. Employers are more inclined to change their default super fund if it can be made clear that membership in one fund can offer financial or resource benefit towards the company.

But since a "choice of a fund" entails those employers are required to go through with the funds as the employers nominate them there is less impact on the default fund. Little acknowledgement is given to potential incentives that can minimize the number of funds involved through an active default fund that encourages members to participate. The level of disengagement in the system surpasses the standard of consideration.

To those who have a default fund set up, it has been mentioned that no rollover fees were involved. Under such circumstances, the employers only put money into the default fund, and the employees can suggest a roll over money within their choice of fund. It made sure that there were no exit fees from the default fund.

If you are an employer or employee who is having difficult time finding relevant information about super funds, then you might want to read more about this subject. You will find useful information about super funds on our site at www.australiansuperfinder.com.au

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