Be that as it may, about 80 per cent of people are members of a default MySuper fund because they did not actively choose another fund. Please try again. The other thing to do is to check the government’s MoneySmart website and look under superannuation where you’ll find a super calculator. Superannuation funds should embrace future Arian Neiron Competition between funds should be encouraged, long-term mediocre performance should not be accepted and funds should … The top career position, for the fund best catering to members in a particular industry, was building industry fund Cbus’s Growth option with an 8.5 per cent return. Next, learn more about the assets you hold. Even default MySuper products can be mislabeled, according to Tony Sandercock, the principal of advisory firm wetalkmoney. Employers are required to pay superannuation contributions, called "superannuation guarantee" (SG) contributions, to an approved superannuation fund for their employees at 9.5% (as at 2018) of the employees' "ordinary time earnings" (OTE)—which generally consists of wages and salaries, commissions, allowances but not overtime. However, if an under 18 employee … A superannuation fund is an institution that is legally allowed to hold and invest … Even if your fund is not at the top of the tree, you are doing ok if it is in line with the median. “If you’re under 45, you want to be in a higher growth option,” said Mr Wastle. “The average default fund which holds 60 to 80 per cent in growth assets should be called a growth option when they’re generally referred to as balanced funds,” Mr Sandercock said. “That allocation has performed well for members,” Mr Sandercock said. Go to site Queensland voters swing behind Labor in historic win for Annastacia Palaszczuk, It’s all about Pennsylvania: Joe Biden’s chances in Tuesday’s election hinge on this key swing state, Trump’s quest to recruit celeb supporters produced $265m worth of absolutely nothing, Allies outgun Australia on climate action … but Scott Morrison ‘isn’t worried’, Paul Bongiorno: Mates rates ethos is selling Australia short, Michael Pascoe: One small idea to save lives, if anyone cares, The two groups of people most vulnerable to dying from COVID-19, Beaches shut as authorities search for shark that killed Nick Slater on Gold Coast, Australian Caleb Ewan pipped at finish line of Stage 10 of the Tour de France, Michael Pascoe: China’s leader takes a turn for the particularly stupid… and ours is no better, The ‘highly sophisticated’ religious movement trying to brainwash Australians, Garry Linnell: Empathy is dead and it’s time for us peasants to make way for profits, Half-baked case to downplay coronavirus built on one big misunderstanding, Airlines want us on planes so badly they’re willing to pay for our funerals.

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