I'm a financial illiterate. I started working 5 years ago and I have been using CBA's Colonial first state as my super. Realised that I'm being ripped off since the last 5 years and I don't know where to move to. Can someone suggest me a super fund that is not a rip off and I can straight away start using? I read stuff about super and everything - funds, self-management, everything goes above my head. Any help would be appreciated. Thank you!
Looking For Superannuation Suggestion
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Which cfs product did you have? What was wrong with it?
OP, you don't need specific advice - a few searches would find you all the info you need on what are regarded as excellent provider & asset mix choices. As nearly every Australian adult has a super account, this is a very well covered area - lots of good info out there.
Been happy enough with Care Super. Their Balanced option has done OK through various ups and downs.
If you're good at shares, they also have a Direct Investment option where you can purchase specific shares with your super balance, receive the dividends etc.
The admin fee for that is $20/month for any portfolio size IIRC, which is reasonable.
BUT - I wouldn't use this option until you're good choosing at shares!!!
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@asc: Lots of negative reviews now.
Move your super elsewhere. If enough people do it they may get the message. I doubt it though. I think they just don't care.