Find the Best Super Fund Today

The best superannuation fund is the fund that is right for you. With recent changes to the superannuation system in Australia, the nature of super funds has changed. This has had the effect of allowing you to get the most money from your savings, and not being tied in to a particular super fund. Today in Australia you can find the best super fund by comparing superannuation funds across the board and determining what is right for your income and the industry you work in.

In Australia, there are industry based super funds that are run to profit the members, examples include Hostplus, Hesta, Cbus, and AustralianSuper, these are examples of industry super funds that are made for various industries, no commissions are paid and they are run to profit industry members. There are also options from some of the larger finance providers in Australia such as Colonial and MLC. In addition the nest Australian superannuation fund is often a self managed fund or DIY account. It is all about comparisons and what is right for you.


So in light of the global financial crisis, what should you have in mind when choosing a super fund?

Look at the long term performers to begin with; superannuation is something that most people in their 20's or 30's will not be accessing for decades. For this reason you will want a fund that produces long term not short term results. For many people consolidating is not the answer, particularly where they have significant amounts of money in their fund/s. For many the fush of industry funds is massive and it makes sense for those to have 2, 3 or even more super funds. This means that the risk will be spread across a lot of different areas instead of a single fund (which may not be the best for you).

The ability to choose your fund manager has been a drawcard for many people, as well as the ability to select shares within the ASX index.

What people should inform themselves of is the unlisted assets value of their funds. It has been recommended that there is a maximum exposure of 25% for unlisted assets. With the recession funds should really decrease their value of unlisted assets and those that haven't already may experience even bigger falls in values.

Keep in mind the negative parts of a self managed super fund:
A third of Australia's superannuation money is now in self-managed super. In my opinion there is a lot more risk taking this route, yet more and more people are going forward in these schemes. The protections that are afforded by self managed super have often ended up being nothing, and in turn many investors were left without their superannuation. This has exposed a fundamental weakness of the superannuation system which needs to be addressed in Australia. This is not to say that there should be a safety net, but at least investors need to be protected when making their financial decisions, something which is a weakness of the Australian super system.

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