Thread: Vehicle leases - good news for a change.

Big tip on super funds join an Industry Fund dont take out a commercial super policy from likes of AMP, Bankers Trust Colonial Mutual. and dont fall for the you can establish your own superannuation fund crap either

Why ?

Money from super funds all invested in same retail and wholesale funds area by same funds managers

Industry Funds admin charges **** loads lower than commercial funds as dont pay sales agents charges advertising budgets etc

Industry Funds dont charge fees if you transfer money to another industry fund

The self managed superannuation fund is too costly to self regulate and toooooo small to get any benefits from investing options compared to larger retail or industry funds

How do l know

Was Trustee director of a Major Industry Superannuation Fund in past life and sat on investment committees and had all the commercial supernnaution financial banks ******* come do thier pitches about how good they would be as money managers for our billion dollars in members accounts.

Originally Posted by cartm58

Big tip on super funds join an Industry Fund dont take out a commercial super policy from likes of AMP, Bankers Trust Colonial Mutual. and dont fall for the you can establish your own superannuation fund crap either

OK, I'll show my ignorance of Aus pensions...what's the difference, and how do I tell a fund is an industry fund. I've got a few to look at, and wanted to ideally wrap life insurance into the fund so it's paid for from my pre-tax salary too.

well good article in today Melbourne Age on performance of Industry Superannuation funds compared to Retail Master Trusts done by the Govt regulator which shows Industry Funds outperformed them over last 10 years/

Industry Fund identiable by name and use tag Industry Fund

http://www.selectingsuper.com.au/Provider_profiles.html

this site is useful l have no connection with it use google for search using Industry Superannuation Fund

It works as they are not for profit as organisation set up so fees charged to members minimal, advertising commercial fees low, no agent or commission fees paid out and so on,

Their money is invested in same way and same markets as Retail Trusts

From Tax point of view if you in top tax bracket 42 cents in dollar for every dollar you put into superannuation as a salary sacrifice contribution you paying 50% less tax approximately compared to getting dollars in your pocket and investing in shares after paying tax. Seeing superannuation funds investing in share market why own your own shares.

and now when you take money out after 55 years age your not paying on it cents so tax savings going and coming out significant return compared to property, shares where you pay capital gains tax and income tax

Life insurance not sure you wont to take it out with superannuation fund compared to market insurance

L would contact someone like insurance broker Jardine Llyod Thomas and get quote for income protection polic for death disability which is 104 weeks coverage up to $1,800 week in total income (wage overime etc) cost varies on age, occupation, cost also varies on wait period longer the wait period cheaper premium varies from 5 to 28 days.

I would take out separate death coverage or mortgage payment insurance depends on your financial situation and martial and dependents

Superannuation Funds tend to offer lower dollar insurance value products for members as part of coverage as offering low cost

Again doing it as salary sacrifice brings tax savings to offset costs involved