SuperGuide

Superannuation and retirement planning information

September 2024 Super booster newsletter

10 points to check on your annual super fund statement
Your annual member statement contains lots of valuable information about your super account, so it’s important to check your fund has been working hard for you. Read more
10 points to check on your annual super fund statement
Your annual member statement contains lots of valuable information about your super account, so it’s important to check your fund has been working hard for you. Read more
Super fund fees and charges you need to know about
Minimising fees is an important step in maximising the returns you earn from your super, so it pays to know what to look out for. Read more.
Super fund fees and charges you need to know about
Minimising fees is an important step in maximising the returns you earn from your super, so it pays to know what to look out for. Read more.
APRA’s performance test: Platforms miss the mark
The second annual performance test for MySuper funds reveals some improvement, but the test itself has its critics. Read more
APRA’s performance test: Platforms miss the mark
The second annual performance test for MySuper funds reveals some improvement, but the test itself has its critics. Read more
How the First Home Super Saver (FHSS) scheme works
Let low taxes and a generous interest rate do the heavy lifting while you save for your first home in super. To encourage take-up of the scheme, changes have been… Read more.
How the First Home Super Saver (FHSS) scheme works
Let low taxes and a generous interest rate do the heavy lifting while you save for your first home in super. To encourage take-up of the scheme, changes have been… Read more.
Super fund performance: Monthly returns to April 2025
Super funds overcame Trump’s tariff turmoil in April to finish in positive territory, reaffirming the importance of sitting tight and ignoring the short-term market “noise”. Read more.
Super fund performance: Monthly returns to April 2025
Super funds overcame Trump’s tariff turmoil in April to finish in positive territory, reaffirming the importance of sitting tight and ignoring the short-term market “noise”. Read more.
Super news for September 2024
Aged care reforms, Opposition to Coalition’s paid parental leave amendments, Funds urged to engage with millenials, Unpaid super surges. Read more.
Super news for September 2024
Aged care reforms, Opposition to Coalition’s paid parental leave amendments, Funds urged to engage with millenials, Unpaid super surges. Read more.

SuperGuide members Q&A: September 2024

Tuesday 24 September 2024 at 11:00 am AEST

In this webinar super expert Garth McNally answers recent questions from SuperGuide members.

Q: I have a super policy with a retail fund and the annual fees and insurance are all over the place. I just don’t understand why they are so different year in year out. Is this explainable?

A: It is normal for the level of your contributions, investment returns, and insurance cover to vary from year to year based on your personal circumstances.

Have a look at the Product Disclosure Statement (PDS) for your fund to understand how insurance cover changes with age and whether you can apply for additional cover or cancel your cover.

Contributions depend on whether you were a member of the fund for the whole financial year and the rate your employer contributes at. You may also have chosen to make personal contributions in some years.

Investment returns will vary every year based on the return of your chosen option after market movements that year.

If you have any difficulty understanding your statements or how your product works, we recommend you contact your fund directly.

Research shows the average super balances of self-employed people are significantly lower than those of employees and around 20% of self-employed people have no super at all. If you’re working for yourself, don’t let super fall by the wayside. Consider making contributions and how small business CGT concessions could help you provide for your retirement if you sell a business.

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.