We’ve all seen the advertisements about Superannuation. This fund that fund, the other fund. But it’s not about the funds, it’s about you and controlling your financial future.
Australia is a young evolving country and the Superannuation industry is one of its biggest businesses holding over $1.4 Trillion invested on behalf of Australians. Imagine how big that pool of money will grow to in 10 or 20 Years?
The Federal Government as of 1 July 2014 will implement a new type of Superannuation option for all working Australians. It’s called My Super. In the Governments words:
“MySuper will improve outcomes for the majority of members who do not wish to be actively involved in choosing their superannuation arrangements, while maintaining freedom of choice for those members who do. Members wishing to make active choices with their superannuation will still be able to opt for an alternative product, or manage their own superannuation affairs through an SMSF”
MySuper certainly has the capacity to get people thinking about their own Super needs. However understanding and making the right choices for your own Super gives you the best chance to maximise the benefits of your retirement savings.
- Planning just how much you’ll need
- Making investment choices
- Understanding and taking advantage of the features and benefits of your fund, are some of the ways you can control your super and what it will do for you.
Our role is to help make sense of the jargon and support you with expert advice and as a trusted source of information.
In the next Blog I’ll be covering the appointment of the new government and what it means to Superannuation.
Corporate Services Specialist
Follow David on Twitter @DavidGLuciani