Beyond super fund fees and returns

Like most Australian’s – everyone is shopping around for the best deal on everything from a better phone plan to better returns in superannuation and low superannuation fees.

Now this blog is not advice, it is just general in nature like all my blogs. I reference CBUS superannuation as an example and am not commenting on whether they are a good fund or not as it can be the right fund for some people. I just thought I would highlight a recent article here about them being taken to court due to delays in processing times with death and disablement claims inside superannuation.

Now for me and my client’s – a superannuation fund or insurance provider isn’t always about the best on fees and returns (although fees and returns are considered), but goes deeper into other areas like ease of use of the fund and also a funds promptness when client’s are in need.

Now this could be anything from passing away and how promptly their super fund pays their superannuation to their beneficiary, or a client might need money urgently from their super fund as soon as possible without delay!

When it comes to retirement planning especially and choosing a fund in retirement, you are usually by nature interacting with your fund more as you are drawing money every year into your bank account if you have an account-based pension.

It is important to review and consider not just fees and returns but also how efficient a fund is with processing your requests. It is difficult though, because we can’t rely solely on past experiences for everything, even fees and returns. A super fund can always increase their fees from when you join (and potentially decrease), a super funds processing and promptness can also be good when you first joined but may change over time. This is why it is important to have a financial planner like myself across your situation to help review your superannuation and make sure your needs are being met now and in the future.