MTAA, HESTA, ESUPERFUND and CBUS: What Do They Offer?
Monday October 20, 2008
Choosing a superannuation fund can be difficult, so here is some brief information on MTAA, HESTA, ESUEPRFUND and CBUS to help you to find the right superannuation fund.
MTAA Super Fund
MTAA super fund is an industry superannuation fund and can provide reasonably good returns. With a wide variety of investment options to choose from, MTAA super fund gives its clients an impressive amount of options for customisation. The balanced investment option over 3 years has experienced an 11.49% p.a. averaged return and MTAA super fund charges a yearly administration fee of $390 per year currently with additional charges for investment management based on a percentage that varies between investment options.
HESTA Industry Superannuation Fund
HESTA is an industry superannuation fund for the health and community services industry with around 600,000 members. Allowing for several regular investment choices with a further range of sector specific investment options, you can tweak your HESTA industry superannuation fund to your needs. The balanced option for investment in a HESTA superannuation fund has had a 3 year averaged return of 10.78% p.a. and has management costs of between 0.35% and 1.15% depending in your account balance with a 0.03% to 0.30% cost for transactions that deal with buying, selling or changing investments. This is balanced by a lack of withdrawal and contribution fees, other than the fees associated with transaction costs.
ESUPERFUND
An ESUPERFUND self managed superannuation fund has the advantage of offering a very low flat fee for administration as well as giving you the greatest opportunity for customising your investments. Average returns will depend on your own investment capability. The yearly compliance fee for an ESUPERFUND self managed superannuation fund is just $599 per year, currently. Set up of an ESUPERFUND superannuation fund is also free at the moment and ESUPERFUND attend to many of the hassles of establishing a self managed superannuation fund.
CBUS
CBUS is an industry superannuation fund for the construction and building industry. The CBUS core strategy investment option (which is the CBUS default investment option) has had a compound average over 5 years of 8.5% p.a. and CBUS charges an administration fee that varies depending on your account balance, going from 0.225% p.a. of your balance with balances of up to $100,000, to 0.15% p.a. between $100,000 and $150,000, and finally charging 0.10% p.a. at over $150,000 in your account. Other costs also exist depending on your specific activities and other investment choices.
Please click on our ESUPERFUND banner if you are interested in starting an ESUPERFUND self managed superannuation fund.
