Can You Save On Fees?
Friday December 19, 2008
While some types of superannuation funds offer better fees than others, this will often depend on the amount you currently have in your superannuation fund. For instance, while a self managed superannuation fund can charge a flat fee for service, it will likely be quite high. Those who have a large superannuation fund balance and thus get charged a large sum based on a percentage of their total balance may be able to benefit from a high flat fee. Those with a small amount would likely benefit more from a low percentage based fee, such as in many an industry superannuation fund, however. Essentially, you will need to keep in mind the amount of money you have, the kind of investments you make, and the kind of superannuation fund you can use if you wish to choose a superannuation fund with the lowest fees for you.
Remember that taking more active control of your superannuation fund investments can sometimes lead to lower fees, but also means that you will need to make sure you know how a superannuation fund works and can invest appropriately. Getting the best deals on fees isn't worth much if you end up making losses on your investments due to poor management, so look carefully for the right balance of low fees and high returns.
Please browse our site if you are interested in reading more about choosing a superannuation fund.
