Does higher fees mean the super funds are better?

Higher fees do not necessarily mean a super fund is better. The effectiveness of a super fund should be evaluated based on its performance, services, and alignment with your investment goals, not just fees.

Should I stay with the default Mysuper product or change super funds?

While MySuper products, typically balanced funds, are designed to be a default option with simplicity, low fees, and basic features to suit most members, it's worth comparing them with other super funds. Other funds might offer better returns or lower fees, and could be aligned with your risk tolerance and investment goals. It's advisable to review and compare the performance, fees, and features of various funds, and consider switching if you find a more suitable option.

Should I choose to have insurance cover within the super fund?

Deciding whether to have insurance cover within your super fund depends on your personal circumstances and needs. It's important to consider factors like your financial responsibilities, dependents, health, and existing coverage outside super. Insurance through super can be cost-effective as it's often cheaper and premiums are paid from your super balance, not out-of-pocket. However, it may reduce your retirement savings. It's crucial to assess the type and level of cover you need and compare it with what's available outside super.

How do I change super funds?

To change super funds , you need to choose a new fund, review its insurance options, inform your employer, and fill out a 'choice of super fund' form. It's important to consider any exit fees and the impact on your insurance.

I want to invest in an ethical super fund

If you're interested in ethical super funds, look for funds that invest in socially responsible, sustainable, and ethical companies and projects. Research their investment policies and past performance to ensure they align with your values.