Hey guys,
Any super experts in the house ?
After looking at my super the amount of fees and charges is a fair bit of money going out.
Just wondering what the best superfunds are for low fees .
I'm asking on here cause I want honest opinions from real people .
Thanks
Best superannuation account
Bargainbattles on 21/05/2020 - 07:34
Comments
I believe this is the Barefoot Investor recommendation :P
Although note that fees can change at anytime with super funds so it's good to compare via PDS information
Also most Industry funds have low fees
Yeah but I chose index balanced as the fees were super low even compared to the balanced option with the same fund
When comparing with other industry funds the IB with hostplus to be the best fees vs return.
Industry funds have some of the lowest fees and charges.
Consider CBUS, among any other Industry fund
Industry funds also have high exposure to unlisted assets which they use to bolster their performance. Due to them not being regularly, or accurately, reevaluated, the value of the fund can be artificially high. This makes them look like they are doing a lot better than they are.
After looking at my super the amount of fees and charges is a fair bit of money going out.
What kind of fees are they? Admin? Insurance premiums?
If they are insurance premiums you can adjust them based on your current situation/age/lifestyle and you very well should as they can ream you on those.
If fees are your primary concern, you'll be hard pressed to go past ANZ Smart Choice Super. This one consistently appears at the lower end of the fee spectrum while offering a reasonable spread of investment options.
I work in super - and would just say to do your own research - however Industry funds overall are a good place to start :)
Also check whether or not you have insurance within super and whether or not you want this via the new super fund. Most funds can do an 'insurance transfer' between them (to see if they can match your cover) - but both super accounts need to remain open at the same time.
I've been looking at fees of industry funds recently and found that most are all about the same for a default type managed balanced or growth type option. Note that the Hostplus index balanced fund and other similar ones recommended by the Barefoot Investor is indeed very low cost but is quite high risk - fine if you're in it for the long haul.
I have a retail fund (BT) and the fees are lower than many industry funds because of a group rate negotiated by my employer. Many of the retail funds seem to be on par with industry funds in terms of fees but are also not necessary better performers either.
This came up about a year or so ago.
Thanks to the advice given i went with HostPlus and their Index balanced account (i think thats what its called)
Super low fees compared to others on the market
You need to research what is right for you however
super is not a one size fits all product.