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

What is Superannuation?

The big question for people right now is what is Superannuation? Superannuation is a structure that was designed to hold your accumulated savings for your eventual retirement. There are restrictions which apply when you're putting in money into the structure and taking money out.

Putting Money into Superannuation?

There are two ways in which to put money into superannuation.

Firstly, your employer puts your money in from which is a sum that is paid to you in addition to the seller your wager receive and that your employer pays for set or in the lot. For example in the 2012/2013 financial year, this will be 9% of your wage.

Alternatively, you can contribute money to superannuation on your behalf for instance from your accumulated savings. It is also quite important to remember that there are restrictions on how much you can put into superannuation.

Choosing a Fund

Choosing a superannuation fund is a daunting decision for many people. But you don't need to worry because every employer has a default fund. Which means that if you don't make a choice on this, your employer will be paying any superannuation owing to the default fund. If you're looking to choose your fund, you need to consider:
• What are the fees and charges in the fund?
• Does the fund offer death and disability insurance? And if it does, what are the premiums?
• What are the features and services the fund offers?

And what are the investment options and performance? Remember that a small difference in return makes a big difference over the long term.

How it is invested

Is there any money invested in the superannuation structure? They can be invested anywhere where you can invest personally with some limited restrictions. Each superannuation fund has investment options and features. It is most likely that your superannuation money would be invested in a mix of Australian or international shares. They could also be invested in property or cash and fixed interest.

It is important to note that some funds allow you to choose where your money is invested while other funds make that choice for you. Those are just the basics of Superannuation. If you want to go in-depth into superannuation and see how it can work for you, feel free to read our resources at www.australiansuperfinder.com.au

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