Our Super system creates more cost and investment underperformance for Australian workers
The superannuation system as it is puts employees into underperforming investment funds.
In addition, since their individual super funds are linked to or set up through employers, Australian workers end up having multiple super funds that generate more administration fees.
A new report from the Productivity Commission is setting much needed changes, one of which is to separate super funds and their selection from employers.
Employees should have more choice and responsibility in starting and managing their super.
This can prevent multiple super fund accounts from occurring.
Workers could have more freedom to move their superannuation money into better performing investment funds.
Do you have more than one super fund account?
Are your valuable superannuation savings not giving you the return you need to retire on?
elk can help you consolidate your multiple super funds into one fund, and improve your investment returns with better performing funds that suit your financial situation and preferences.
Contact elk to get started. Make the future and lifestyle you want- starting today.
The difference in investment returns over an employee’s total career between having a top quartile fund return and bottom quartile fund return could be almost double, according to the Productivity Commission Report statistics.