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

Super Products and Funds

Starting with conservative ones where the majority of your money is invested in cash and fixed interest to the growth products which spent the greater proportion of your money in property and shares.

All super funds will also offer a certified product in which roughly 30% of your money will be in property, 40% of shares, and the rest in cash and fixed interest. When you start on a new job, if you don't choose which product you want to be in, you'll be placed on this balanced product by default. You may know of these default products as my default. You may know of these products as MySuper products.

So let's talk about the super funds themselves. Not all funds are the same. There are four types:
• Industry - Industry funds are designed for workers in a particular industry.
• Public Sector Public Sector funds are for government workers.
• Corporate Corporate funds are for employees of a specific company.
• Retail banks commonly operate retail funds.

How do Super Funds compare with each other?

Performance in managing investments. In any competitive industry, there are different levels of operational performance between super funds. Some funds were managed investments better than others.

Fees. The fees you pay will be deducted from any returns on your product. In other words, the higher you fees, the more they eat into your returns. Different fees are charged for various situations. And they can vary between funds. Commonly, these include a. Administration costs, b. Investment management fees, c. Insurance premiums, d. Commissions paid to financial advisers. It's crucial to be aware of what you're paying for and how much.

Extras. Funds can offer you additional services at discount prices that you can take advantage of right now. You don't have to wait until you retire. These services are often the ones you need day to day. For example a. Insurance cover, b. Banking services, c. Private health insurance.

Investment Options. Some funds offer more options than others. Which means you have a greater variety of products to choose from. Some funds will even allow you to make a cost in a product where you get to specify exactly how your investments will split.

Finally, funds have different eligibility criteria. For example, you can join any retail fund in almost any industry fund even if you don't work in that industry. However, corporate and public sector funds are only available if you work for a certain employer.

We hope you learned from this article. You will find more informative articles on our site at www.australiansuperfinder.com.au

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