Pay Attention When Changing Your Job
Wednesday December 3, 2008
Pay attention to what is happening with your superannuation fund when you change your job, as you may otherwise end up losing money. There are two major things to look out for when changing your job. One, that if you decide to change the superannuation fund you use that you are careful to transfer your funds, and two, that your previous employer pays the entirety of the superannuation contributions that they owe you.
As so many people fail to pay the proper attention to their superannuation fund, it can be quite easy to lose money by moving to a new superannuation fund without transferring funds. Crooked employers can also more easily be deceptive about paying into your superannuation fund if you do not pay attention to it. You really cannot afford to lose money from your superannuation fund in this way, as the 9% contribution that employers have to make will often not be enough to pay for your retirement. Paying attention to your superannuation fund and taking responsibility for its growth is important if you wish to have a comfortable retirement.
Please browse our site if you would like to read about using an industry superannuation fund or about choosing a superannuation fund. Also, be sure to click on our ESUPERFUND sponsor banner if you are interested in reading what ESUPERFUND can offer to help start a self managed superannuation fund.
