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Every dollar counts when it comes to your retirement savings. Even a slightly higher fee can have a significant impact on your savings in the long run. That's why it's so important to compare super funds. By doing a superannuation fund comparison and choosing the right fund for you, you can be on your way to growing your retirement savings.
How to compare super funds
Here are some of the key factors to think about when you compare super funds:
Look at the fees charged by each super fund, as they can have an impact on your retirement savings over time. It’s important to understand that if the fees are too high, there’s a chance that it could eat into your super balance. But low fees are only one thing to look for in your comparison. Pay attention to both fees and investment performance by comparing the net return of funds.
Performance
When you compare super funds, try to get an idea of how well they performed in the past. Pay attention to how a fund’s investment options have performed over at least 5 years and compare that with how other funds’ sufficiently similar options have performed in the same period.
At Rest, we follow an approach of staying long-term focused, well diversified and disciplined.
Insurance
Many super funds offer insurance options such as death, total and permanent disability (TPD), and income protection. If this is something that’s important to you, check which insurance options are available with each fund and compare the cost and level of cover provided.
Rest offers a range of affordable and flexible insurance options to help protect you and your loved ones from the unexpected.
Profit-to-member
Being a profit-to-member fund means they’re run to benefit members. For these types of funds, profits are returned to members, not shareholders. Rest is proudly a profit-to-member super fund with low fees.
Advice services
Think about whether you want access to financial advice through your super fund.
At Rest, our members have access to Rest Advice which is designed to help them make the right decisions with their super and money. Simple personal advice on their Rest account is at no extra cost as it’s included in their administration fees and costs. More complex personal advice may incur additional fee which will vary depending on the complexity of the advice.
Compare Rest to other funds
Use the ATO YourSuper comparison tool to compare Rest’s Superannuation fees and investment performance to other funds.