Hi guys, BT (Westpac) or OnePath (ANZ), which one is better saving on those fixed fees? currently with sunsuper, balance less than $50,000
BT Super or OnePath Super?
imahapyboy on 07/06/2017 - 10:47
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I had multiple super accounts, one with BT and consolidated with an industry fund. BT fees were high and performance wasn't great.
Take a look at Australian Super
IOOF…
Both have high fees.
Your balance is small, stick it in a cheaper Industry Fund like AustralianSuper for now, then when it's closer to 100K spend more time picking a fund for the long term.
I recently moved from BT super to a private firm using hub 24 called Camori investments. I was hesitant to switch but have been happy to with the returns over the last 18 months.
Only look at an industry fund. Avoid all retail funds because their fees are much higher and their performance at best is no better than an industry fund.
Can I buy insurance with industry fund? are they reliable?
Yes. You can buy life, disability, salary continuance, etc. You need to judge the policy just like you would any policy outside super. There have been some issues with some policy providers. The Fairfax / 4 Corners investigation found serious problems with Comminsure policies;
http://www.abc.net.au/4corners/stories/2016/03/07/4417757.ht…
no more onepath they have moved all old onepath customers to anz smartsuper. dont know about bt but i think anz is cheap in fees