Looking for a super fund with no fees

I'm looking for a super fund to change into as I currently am with AMP since I was last employed.
I have been self employed for. A number of years now and my super balance has been slowly declining , largely due to fees.

There is not much in there, perhaps $30k or so .
I do not contribute any money into super at all.

I have been looking into care super (high risk), as all I'm looking for is a fund that has no fees for negative returns and for such a small super amount I am happy with the risk.

I do not intend on contributing any money into super in the near future

Are there any other funds worthwhile looking into ?

Comments

    • -2

      They have fees… trust me.

  • +2

    Have a look at HostPlus Indexed Balanced.

  • +1

    The retail super funds e.g AMP have very high fees - so for your variables better going with an industry fund. Personally I'd recommend Hostplus, very low fees and good range of investment options etc.

    That said there's always 'fees' with any super fund - its just that some are overt and others are hidden (performance fees etc). Negative return yrs just happen and you'll ALWAYS still pay fees in these - anyone who didn't say you were paying them would still be getting their cut via some other manner, so better its transparent IMHO.

    FWIW any given fund manager isn't in itself 'high risk' rather various investment options via them might have differing risk's associated depending on the nature of the investment e.g risk vs return.

    IMHO you're focusing too much on the fees and not nearly enough on the proper investment options - which to advise you on one'd really have to know lots more e.g age, planned remaining working career, financial situation etc etc etc.

    Super is a long term investment - set it up properly and don't read too much into short term variations etc but the key is to set it up properly or you only end up paying for fund managers boozey 4 hour lunches at 3 Hat winning restaurants. ;-)

    • Did a little more reading thanks

      Pretty much have decided between these 2
      Host plus index balanced vs ing direct living super balanced .
      There is only about 30k in the super account and host plus has a $78 per year fee.
      I highly doubt that this 30k will increase much if at all.

      If I just want to "set it and forget it" the ing 0 fees seem like a great idea for such a small super amount. The fees with host plus may not be worthwhile for a small super balance that will not be increasing yearly . The only issue I have with that is they invest 50/50 cash . Can we increase it to say 80/20 cash ?

  • Late 20s own business. Expected to work until no idea when.
    Currently investing mostly into property

    Really just looking for a fund where I can pool my super into from my previous employers
    It's only a small amount and I don't plan on contirbuting any super at all in the future until around retirement time
    (If there are tax advantages then)

    No kids , no family.
    Won't need insurance for anything currently. All properties neutral or positive geared

    • Won't need insurance for anything?

      If you're sick/disabled and are never able to work again your income will just continue indefinitely?

      • +1

        Young and bulletproof!

  • +2

    AUSTRALIAN SUPER. Federal politicians are in it, and they really know how to look after themselves….so little risk!

  • Just announced a new $5 per month fee. Disappointing.

    • -1

      $5 per month is nothing!

  • I'd be going with an industry fund, not a bank fund like ANZ, banks etc have the highest fees. I second Australian Super.

  • I'm with sun super they are like 1.20 a month and good returns on growth

    • You are forgetting the investment fees

  • If you've 30k in your super and its been declining due to "fees", you probably have insurance attached since nearly every single fund has produced hugely positive returns for the last 5 years. Look into it and decide if that is actually draining your account instead.

    There are no such thing as no fees, even industry fund workers need to eat.

  • Hostplus Index Balanced without question. It's annual fees are only $78 + 0.02% of the fund balance. Likely the lowest cost Superfund in Australia. For a balance of $30,000.00 you'll only be paying $84 in annual fees.

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