A new report has come out, naming and shaming the most overpriced and underperforming superannuation funds in Australia
This analysis looked at 600 of the largest superannuation funds in Australia, to find the best super funds, and the worst. The funds were assessed on how they performed, after fees, compared to other super options of similar risks over five years.
If you are 35 years old and earning the average Australian income of just on $80,000 per year and have your superannuation with one of these companies, you would be just on $200,000 worse off when you retire!
Australians with their superannuation in these funds, face an average of 2% in fees, when many of the better performing funds charge around 1%.
Collectively these worst performing funds, manage $7 billion in superannuation money, which ends up costing Australians just over $150 million per year in extra fees!
For a free copy of this report, contact your Property Mentor or firstname.lastname@example.org and also get the bonus of our FIDO (Financial Independence Date Organiser) report done for you, to look at great property options that could supplement your retirement!
Troy Gunasekera | National Manager