If you're about to start a new job or already working, you might already know your employer has to make contributions to your super on your behalf.
What you may not know is that you can choose which super fund your hard-earned dollars goes into. Whatever choice you make now could make a difference to the lifestyle you’ll lead in retirement.
Watch our video (2.33) where Mel from AMP explains what you need to think about when choosing your super fund. Keep in mind that not all super funds are the same and it really depends what is going to suit your personal situation.
About this video
In this video, Melinda from AMP talks through some of the key points to consider when choosing the right super fund for you.
If you’re currently employed or about to join the workforce, your employer will normally make regular contributions into your super fund, but the choice of super fund you have is usually up to you. The main options are typically:
- Your employer’s default fund
- A retail fund
- An industry fund, or
- A self-managed super fund.
When considering which super fund to choose, consider.
- The fees and charges of the super funds.
- What investment options are offered in the super funds
- The features and benefits the super fund provides, such as the type of insurance offered.
Other things to remember when choosing your super fund:
- Past performance doesn't necessarily guarantee future performance. In other words, a super fund that generated high returns yesterday may not generate high returns tomorrow.
- Your individual circumstances will influence which super fund and what features you choose.
And finally, let’s not forget about consolidating your super - that is, bringing all your super accounts into one. Watch our video to find out what you need to think about before consolidating your super.
Obviously, you’ll need to consider what’s right for you before making any decisions. But it’s worthwhile, because these things have the potential you grow your superannuation balance and ultimately help you achieve the lifestyle you want in retirement.
Products in the Super Directions Fund and the Wealth Personal Superannuation and Pension Fund are issued by N.M. Superannuation Proprietary Limited (N.M. Super) ABN 31 008 428 322 (trustee), which is part of the AMP group (AMP). Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP at amp.com.au or by calling 131 267. Read AMP’s Financial Services Guide for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.
Products in the AMP Eligible Rollover Fund, National Mutual Retirement Fund, and NM Pro Super Fund are issued by Equity Trustees Superannuation Limited ABN 50 055 641 757 (trustee). Risk products are issued by AMP Life Limited ABN 84 079 300 379 (AMP Life), which is part of the Resolution Life group. AMP Life has proudly served customers in Australia since 1849. AMP Limited ABN 49 079 354 519 has sold AMP Life to the Resolution Life group whilst retaining a minority economic interest. AMP Limited has no day-to-day involvement in the management of AMP Life whose products and services are not affiliated with or guaranteed by AMP Limited. AMP Limited is not liable for products issued by AMP Life or any statements or representations made in the PDS for those products. “AMP”, “AMP Life” and any other AMP trademarks are used by AMP Life under licence from AMP Limited. Before deciding what’s right for you, it’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions available from AMP Life at amp.com.au or by calling 133 731. Read AMP Life’s Financial Services Guide for information about our services, including the fees and other benefits that AMP Life and/or other companies within the Resolution Life group may receive in relation to products and services provided to you.
Any advice and information provided is general in nature, hasn’t taken your circumstances into account, and is provided by AWM Services Pty Ltd ABN 15 139 353 496 (AWM Services), which is part of the AMP group (AMP). All information on this website is subject to change without notice.
Any video content on this page was current on the date it was published. As a result of changes to the business from time to time, including changes to product, product issuer, services, trust, trustees and other entities, the information may no longer be current. For up to date information, we refer you to the relevant product disclosure statement and product updates.