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How to choose the best superannuation fund

Updated: Jun 25, 2023

The truth about choosing a superannuation fund from a Certified Financial Planner.

How to choose a super fund that is right for you
How to choose a superannuation fund
"Choosing a super fund isn't the most important part of retirement planning."

Beyond the flashy, expensive superannuation advertising, there are BIGGER things to consider.

Here is the Ugly Truth about Superannuation Advertising

Don't pick a super fund based on:

  • The best-performing superannuation fund from last year. Last year's winner is unlikely to be this year's winner.

  • That the superannuation fund is somehow designed for people who work in your industry or occupation. Or, for that matter, if it is a superannuation fund specifically designed for women.

  • The superannuation fund sponsors your footy or sports team.

  • On the basis of BOLD CLAIMS about the fund's ethics and purpose.

  • Cheapest fees

This is all semantics. And will not make much of a difference to your retirement numbers.

Here's how you can best improve your superannuation. When choosing a super fund, consider this:

  • Strategy - The type, amount, and timing of your contributions.

  • Investment choice - Ensure it aligns with your risk tolerance, ethics, and retirement goals.

  • Insurance held and paid for via your super is right for you. And you know the coverage and costs. A back up plan is important, so read this, before you cancel any cover.

  • Fees are competitive (not necessarily the 'cheapest'!)

  • How your superannuation fits into your overall financial plan.

Superannuation is your retirement money - choose the right tool.

Leaving your retirement to chance with blind faith in the system means you will miss out on maximising your nest egg.

Would you like to learn more about how we can work together? Book a 15 minute clarity call so we can get to know each other.

We specialise in Money Coaching, Financial Planning and Wealth Consultancy for women.

We are available for appointments in our Newcastle or Sydney offices or Australia wide via video conferencing. Ladies, our Lush Life Financial Planning Advice Program has been designed specifically for Australian Women by a team of dedicated money experts.

What you need to know

This information is provided and produced by Lush Wealth Advisors. The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.


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