SuperGuide

Superannuation and retirement planning information

August 2024 Super booster newsletter

Super fund performance: Monthly returns to July 2024
Super funds surfed a wave of positive sentiment into the new financial year, with the median Growth fund up 2% in July. Read more.
Super fund performance: Monthly returns to July 2024
Super funds surfed a wave of positive sentiment into the new financial year, with the median Growth fund up 2% in July. Read more.
Top-performing sustainable super funds (to June 2024)
Sustainable funds delivered strong returns last financial year, comparing favourably with their non-sustainable peers. Read more.
Top-performing sustainable super funds (to June 2024)
Sustainable funds delivered strong returns last financial year, comparing favourably with their non-sustainable peers. Read more.
What are lifecycle super funds, and how do they perform?
Lifecycle funds are designed to reduce risk as you near retirement without sacrificing returns; recent research shows many do just that but you need to know what to look for. Read more.
What are lifecycle super funds, and how do they perform?
Lifecycle funds are designed to reduce risk as you near retirement without sacrificing returns; recent research shows many do just that but you need to know what to look for. Read more.
What to do if you exceed your super contributions caps
Going over your annual limits for super contributions can cause problems and cost you money, so it’s important to know what to do if you have. Read more.
What to do if you exceed your super contributions caps
Going over your annual limits for super contributions can cause problems and cost you money, so it’s important to know what to do if you have. Read more.
Super news for August 2024
Call for rethink on the family home in retirement planning, Mercer’s $11.5 million greenwashing fine, and pressure mounts for DV reform Read more.
Super news for August 2024
Call for rethink on the family home in retirement planning, Mercer’s $11.5 million greenwashing fine, and pressure mounts for DV reform Read more.

UPDATED BEST PERFORMING SUPER FUNDS

See the top super funds by investment category over 1 year and 10 years. Now updated to 30 June 2024.

Buying property in an SMSF

Thursday 25 August 2024 at 11:00 am AEST

From the compliance requirements to the strategic opportunities, this webinar will also include an attendee Q&A Session.

Q: Could you please explain why the TPD insurance goes upwards each year you pay your premium but after a certain time say when you hit your fifties it goes backwards even though you pay the same premium. It even increases some years. 

A: For specific information about your insurance premiums you will need to talk to your super fund directly. We can however answer in general terms.

As you age the risk of death and disability tends to increase. For this reason, death, TPD, and income protection premiums can be expected to rise with age. This means the same premium buys a smaller amount of insurance.

Generally, the level of cover you had and the premiums that were paid in the past do not influence the cover you have today. If you had never previously been insured and applied for cover tomorrow, the price would be the same as a person your age who has been insured for years.

There is an exception to this general rule for younger people, particularly young men, who are at highest risk of death and disability from misadventure/accident while under 30 or so. Premiums for this age group tend to be higher than a person who is 35-40.

Your ability to earn an income is probably your most valuable asset. Most of us wouldn’t dream of going without car or home insurance, but Australians are often underinsured when it comes to illness and injury. Take the time to think about the insurance available through super.

Important: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.

Superguide Pty Ltd ATF Superguide Unit Trust as a Corporate Authorised Representative (CAR) is a Corporate Authorised Representative of Independent Financial Advisers Australia, AFSL 464629.