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IT
Don’t Become a Victim of the Super Wars
['John Beveridge']
Small Caps
There are still the giant industry funds and also some large retail funds no longer owned by banks that operate in a similar manner to the industry funds, so that part has remained similar and has been simplified with the emergence of basic MySuper funds.
Both sides claim to be wearing the white hats and standing up for super fund members, but the temperature of the debate is now growing white hot.
The SMC claims that the FSC has been making selective claims about the performance and costs of platform super funds compared with performance-tested mainstream MySuper funds.
Higher Admin Fee ClaimsSMC has also disputed the FSC's report, claiming that members of platform super products typically pay higher administrative fees, have lower exposure to growth assets and have lower risk-adjusted returns.
Most financial planners worth their salt should be happy to let you stick with a low-cost super fund that you are happy with, if that is what you want.