1. How hands on do you want to be? Some people get a kick out of making their own investment choices – constructing their own strategy, keeping an eye on investment markets and fine-tuning their portfolio themselves. Others…not so much. So be sure your selected super fund offers a ‘hands-on’ level that suits you best, such as:
    • Low hands on: Look for a fund with a MySuper option
    • Medium hands on: Look for a fund with a Pre-mixed investment option
    • High hands on: Look for a fund with a Sector investment option
  2. It’s not just about fees, your super balance grows best when the net benefit [(investment returns x current balance) minus fees] is greatest. So, make sure you check out the fees the super fund charges for your preferred investment options as well as the performance2  of those options.
  3. We all know that insurance isn’t just insurance - see what cover is available and what it will cost. Some funds offer default insurance cover provided with no medical check necessary (that’s called ‘automatic acceptance’).
  4. Extra employer benefits –  for their preferred super fund, your employer may pay more than 10%, may have negotiated lower fees, or make extra contributions to cover some of the fees and insurance costs. Don’t forget to ask them.
  5. Above all, choosing a super fund is like picking a well-balanced diet that you are comfortable with and can stick to over the long haul. Chat to a smartCoach to find out more about the ongoing support members can receive from smartMonday.