Review Super Fees
Have you ever thought about how superannuation fund fees will effect your retirement savings over your lifetime? The difference between a low fee and a high fee super fund can be the difference between retiring comfortably and relying on the age pension. If invested in a high fee super fund, the average Australian would be over $300,000 worse off by the time they retire! These fees are taken out of your fund and can therefore have a detrimental impact on your retirement savings. Check to see how your funds fees compare.
This graph shows the effect fees have on the typical balance of an individual earning the average income and invested in the average performing superannuation fund over a 40-year period. Here, you can see the difference between a fund with low fees (0.5%), moderate fees (1.5%) and high fees (2.5%).
