Many Australians now have the opportunity to choose which fund their employer superannuation contributions (the 9% Superannuation Guarantee - SG) are paid into. As super is probably one of your largest assets, you no doubt want to make your end retirement payout as large as it could be! Fees and charges and the level of investment performance will all impact this amount – so making the right decision about which fund to choose is important. 

How do I stay with MTAA Super when I change jobs?

If you are eligible, when you change jobs you will need to provide your employer with written notification.

If you do not choose a fund, your super contributions will be paid into a default fund chosen by your employer. Your employer has a legal obligation to ensure that they select a default fund that is compliant with all legislation, will accept your contributions and offers a minimum level of death insurance cover.

How do I make the right choice for me?

Make sure you have all the information you need before you make a decision.
Whilst super may seem confusing, there are some key features to look at when you are selecting a fund:

• Does the fund have low fees and charges? Are there any hidden fees like exit fees or commissions paid?
• Does the fund offer you flexible investment options and the opportunity to switch between these options if your life circumstances change?
• What sort of insurance packages are available and how much are the premiums?
• Are there any additional value-adding services such as retirement planning seminars, financial planning advice or banking products and services available?
• How does the fund's investment performance stack up? Note however, that past investment performance is not necessarily an indicator of future investment performance.
• How does the fund compare against other funds? Several ratings systems are available to help you compare funds including SuperRatings and SelectingSuper. These research houses are independent and evaluate funds on a wide range of features.

More Information

For more information on Choice of Fund contact us on 1300 362 415.

The following websites provide additional helpful information:

• The Government’s choice website
• Association of Superannuation Funds Australia (ASFA)
• Independent Researchers, SuperRatings
• Independent Researchers, Selecting Super
• Australian Tax Office (ATO)