I am currently with MLC Super and I think it is not as good as others like AustalianSuper in terms of returns.
When checking mere 50,000 over 20 years
——with 10% compound interest adds up to 336 k and
——with 8% adds up to 233k,
which is a huge difference of over 100k for 2% interest difference.
which super is best…I am good 25 years away from accessing super\retiring at least.
Investing in international shares has a place in a balanced portfolio but most people do not realise they also have a currency exposure/risk which will impact their returns, regardless of the performance of the underlying foreign shares in their domestic markets
Damn forgot about that :(…. Thanks for the heads up, I'll look into it all some more when the uni break on the 20th starts. Cheers :)
Let me get my crystal ball
Past performance is not an indicator of future performance.
The average RoR for pension funds is 7% to 10% 1Y. Imagine people having to wait for 10Y before they double their portfolios.
This wasn't good enough for us so cashed out everything and moved the capital into self custody portfolios. This was the second-best financial decision we've made. >400% 1Y and counting.
Did you change your username? You remind me of a cryptodude that was spamming stuff last year here.
Past performance is not an indicator of future performance.
I'm with Aussuper though they're doing pretty well.
Guide to picking a good super fund:
- low ongoing fees (i.e. industry funds are better)
- be able to cancel insurance if you don't want it
- low fees
- don't forget low fees
Something just as important as low fees and decent returns is putting extra in from you pay every week. It adds up to a lot at the end and taxed lower than if you get it in your account now.
It's not the fund, it's the performance of the product within the fund.
And don't just blindly choose the growth option. Take another 30 mins to check if the DIY international and Aus index options have lower fees than growth. Then potentially opt for choosing them over 'growth'. This may yield better returns with lower fees.
MLC Super
The best super funds are those where its super easy, quick and simple to find their fees.
I tried for MLC but couldn't. They are probably crap.
Edit found it finally: https://www.mlc.com.au/content/dam/mlc/documents/disclosure/…
"If your balance was $50,000, then for that year you will
be charged fees of $750 for the superannuation product."
OMG!
I think barefoot still says hostplus. I'm currently with virgin. Seems cheap enough, but I'm pretty sure there is better.
I have been on host plus for coming on 15 years and has always been a solid performer, have been very happy overall.
I was with Host Plus, but switched to QSuper for the lower fees, though that was at least 3 years ago when I compared fees, so not sure what they are now.
I think Vanguard super will be best, when they finally get permission to launch :p
Higher super fees may not be all bad, as what you can find is high growth funds may have higher fees than the less riskier growth funds as typically high growth funds are more costlier for the funds to manage. Your got to take fees and performance into account, if its costing you a extra half percent in fees but you are getting 3% more return, I know what I would select.
You would compare superfunds based on a like for like investment product e.g. MySuper, Aust Shares etc. You would also compare their fees structure and perhaps insurance premiums.
If you are comfortable in tweaking your super investment every year or so, the MySuper product will do you injustice with higher fees and lower return.
“The reality is even the funds in this test that are underperforming are doubling the money of their members every 10 years — they're generating 7% to 7.5% returns, ” Fahy said, as reported by ABC. “They're amazing returns in the current circumstances.”
I compared superfunds several years ago and for ease went with Australian Super. Reasonable fees. Good returns. I'm not saying it suits your situation, but its a pretty damn good industry super fund and you could do worse.
Surprised by the amount of comments that focus on just fees. My corporate super plan allows me to pick from a range of 50+ investments to construct my portfolio. I’ve invested my super across 9 managed funds within my super. The fund which is charging the highest fees has also performed the best. I’m not saying that it’s a direct correlation, but there are instances where the fee is justifiable, and the earnings exceed the additional cost.
Whilst past performance isn’t indicative of future performance, it does tell you how well the management team performs. Each fund generally has a benchmark and you should compare how well the performance of the fund is relative to that benchmark over time (1,3,5,7 year basis).
You should also consider your aggressiveness based on your family situation. If you’re the sole income earner in the household and have a family + mortgage to look after you should consider TPD/death insurance. You may also not way to put your super in something super risky in that scenario.
Personally I’ve put my entire super balance in aggressive investments since I have 35+ years before I retire, and my fund has doubled in value just in the last year.
Hi neilpatrickharris,
Sorry to dig up a old thread, but I just wanted to know the name of your highest performing super fund, and what products you chose within the fund.
Girlfriend is looking for a new super fund.
Cheers,
Wystri Warrick
Hey mate, it's a corporate super plan so not accessible to non-employees.
Oh right, I see. That's a bummer :(
UniSuper
unisuper.com.au
I'm with QSuper. I work part time so my income is low, so I went with QSuper for its low fees.
At the time I compared all the super funds through multiple comparison sites. QSuper works out to be the best for its low fees and high performance. When I get my degree and start earning a high income I'll switch to a super account that has a fixed fee rather than a percentage fee.
I'm very happy with Qsuper's performance. I've got 60% in international shares, 25% Australian shares, and 15% socially responsible shares. Last financial year I got a return of 35% from international shares, 25% from Australian shares, and 15% from socially responsible shares.
Today I just switched all my investment into international shares, I like to live dangerously :) and I'm still very young so the way I see it I can take bigger risks until until I'm middle aged