Superannuation can be a wonderful nest egg for your future that as you work, super gets taken out of your pay and placed into an agreed fund.
If you have changed jobs and didn’t transfer over your Superannuation it will be likely that there will superannuation accounts that will need consolidating. When current contact details haven’t been changed the account can then be classified as “Lost”
Even though a lost super account only has a certain amount of money held, they can be subjected to fund fees that are either deducted monthly, quarterly or yearly until your fund has disappeared completely.
Protecting Your Superannuation
- Choosing the right Super Type
- Investment Performance
- Rewarding Super Fund
Choosing the Right Super Type
For most, Super starts when you begin working and your employer pays the super on your behalf or if you are self employed you can choose if you want to contribute to a fund yourself also some contractors may also be entitled to a Super Fund.
Depending on if you have a Self Managed Super Fund or a Regulated Super Fund, you will often need to look for the best return when it comes to investing your money.
Rewarding Super Fund
There are many factors to consider when choosing a super fund like the funds past performance looking at the depreciation, growth and the future performance giving you a greater return. This can be complicated so ask for help from a registered accountant who has Superannuation experience.
Need Help With Your Super?
The team at Integra Business Accountants can assist you with all of your lost superannuation, Self Managed Super Fund and compliance enquiries to ensure your getting the best type of super for your needs plus look at a return you are getting for your super investment of super. Speak to the team at Integra Business Accounts today
on 9527 3071.