Best performing super funds, Seniors cards, SMSF audits, Comparing funds
Welcome to the August 2018 edition of the SuperGuide Premium newsletter. Highlights include:
- SENIORS CARDS: There’s a surprising array of benefits, concessions and discounts if you are eligible for a seniors card. Find out what you could be claim for in your state, and how to apply.
- IS $1 MILLION REALLY THE MAGIC FIGURE FOR SMSFS? Meg Heffron debunks the Productivity Commission’s theory that you need $1m to start an SMSF.
- SMSF AUDITS: Nobody seems to like the Coalition’s 3-yearly audit policy – neither the auditors nor the trustees. Belinda Aisbett and Jim Bonham present the views from either side, and both are in agreement that it’s a policy ultimately lacking in purpose.
- BEST PERFORMING SUPER FUNDS: It always pays to keep track of the latest stats on the best performing funds. This month we look at the top performing super and pension funds over 5 years. Separately we also present the super and pension funds with the lowest fees.
- COMPARING SUPER FUNDS: Now you know the top performers and cheapest funds, are you sure your fund is up to scratch? Find out what are the main types of funds, how to review yours, and what else you should consider when comparing super funds.
SPECIAL DEAL FOR OVER-60s
Everyone loves a bargain, but once they turn 60 many people forget to grab one of the best deals on offer – their state government’s Seniors Card.Read more
Depending on who you believe, self-managed superannuation funds range from being the greatest invention of the modern age or the most likely cause of the next financial crisis.Read more
As an SMSF trustee, Dr Bonham is deeply concerned about the proposed changes to the SMSF audit rules, and the ongoing instability for retirees and future retirees.Read more
After the initial shock has worn off, and now that Treasury has released a discussion paper outlining the proposed three-year audit cycle for SMSFs, it is time to consider how the proposed measures (if adopted) will be rolled out, and how these measures will affect both the SMSF sector and the obligations of SMSF trustees.Read more
IS YOUR SUPER FUND PERFORMING?
The gold medal goes to AustralianSuper which achieved an average of 5.7% a year over the last five years, closely followed by Cbus with 5.6% and Hostplus with 5.5%. This compares with an average return of 4.1% a year for the 50 funds in this category rated by SuperRatings.Read more
According to the 10/30/60 rule, 60% of your retirement income comes from the investment returns you achieve during your retirement, and underlines how important it is to continue to earn a good investment return in your retirement years.Read more
Despite a partial rebound in April, all lifecycle fund age cohorts have had negative returns for the financial year to date. Younger members with higher exposure to risk assets have borne the brunt of the downturn, while older members with a more defensive asset allocation have been cushioned from the worst of the falls.Read more
Super funds recovered some of their losses in April, as sharemarkets reacted to a flattening of the coronavirus curve and the partial easing of restrictions in many countries. While funds are still on track for negative returns this financial year, and it’s still too early to assess the full financial impact of the pandemic, Australia’s superannuation sector is performing well under pressure.Read more
Low fees went even lower in 2019, as revealed in the top 10 super and pension funds with the lowest fees.Read more
COMPARING SUPER FUNDS
Superannuation is a long-term investment but that doesn’t mean you can afford to put off thinking about it for a day that never comes.Read more
Is your super fund a star performer or a lemon? Follow our 6-step guide to assess if your super fund is right for you.Read more
Whatever your circumstances, it’s important to canvass all your options before you make your final selection. It’s also worth remembering that your choice of fund is not a life sentence. If you are unhappy with your fund for whatever reason, you are free to switch funds provided you have choice.Read more
MySuper funds act as a default account for people who don’t choose their own super fund when they start a new job. They are designed to be simple, low cost and easy to compare.Read more
In this article we will look at how life insurance inside super works, ideal cover, premiums, claims and taxes, and get the thoughts of an independent financial adviser on how life insurance in super can be effective for estate planning.Read more
If you are wondering how recent rule changes have affected your super and retirement plans, here’s a quick guide to the key changes and when they commenced.Read more
Australia’s current super system is “harming millions of members” through underperforming funds, multiple accounts and excessive fees.Read more
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