A public sector fund is a superannuation fund for public sector employees.
The following articles refer to Public sector funds and superannuation.
Q: I am an Australian citizen living in the UK and I have an Australian super fund accumulated from 1986-1992 and now growing with investment earnings over time. Additionally, I continue to hold bank accounts in Australia. I am 52 and I intend retiring at age 60. When I do retire can I withdraw the entire super fund as a lump sum and deposit it in to my Australian bank?
Q: I have my super with a major financial organisation. I’m wondering, are they a good company to be dealing with? I feel that their fees are a bit high: based on an investment amount of $300,000 the MER amount is $6,600 plus a monthly admin fee of $8.44. What are your thoughts on this matter?
Unless you work in the superannuation industry, how the world of super works can be bamboozling (sometimes it can be confusing even when you know the industry well). This article, on the different types of super funds, is the first in a series of articles explaining the main players in the Australian super world.
Individuals running DIY super funds now control 31.8% ($400.2 billion) of the $1.26 trillion invested via Australian superannuation funds. Ten years ago, DIY super funds represented one-tenth (10%) of all superannuation money.
The Super System Review (SSR) panel, in particular, chair Jeremy Cooper, has drawn a line in the sand and publicly stated that the SSR believe it’s possible to reduce the fees charged by super funds to a mere half a per cent, or even less. Go Mr Cooper!
When superannuation funds are delivering strong returns, you don’t see much written about the costs of investments, including the costs charged to member accounts by super funds. When returns are poor however, fees become more obvious. Along with investment performance, can be an important factor in determining the size for your final retirement benefit. Costs [...]
In August 2009, financial regulator APRA released performance data on Australia’s largest 200 funds. In the August SuperGuide newsletter, we noted that the performance figures have received a lot of criticism from the super industry. I think the level of criticism is a bit unfair.
Member of two funds is OK Q: I retired at 55 and I started my Public Sector Superannuation pension. I am now 58. Could I start another super fund, such as a DIY super fund? The fact that a person is receiving a PSS pension, or is a member of any other type of super [...]
Hi - I'm Trish Power, author of Superannuation For Dummies and many other books on super and investing.
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