Maintaining your superannuation.Australian employees and others planning for retirement will need to take a more active role in managing their super in the future. New superannuation legislation , due to come into force in July 2005 gives employees the right to nominate the fund into which their compulsory super is paid. But with that right comes more responsibility. While leaving the money with the existing manager is one option, employees are about to be deluged with offers as the funds compete to market directly to employees.
Do not switch your investments chasing the latest fads. Entry and exit fees will quickly eat up any advantage. Your financial comfort in retirement can only be secured by a steady accumulation of assets. The relevant number is the performance of your funds after management fees Unfortunately, the performance of funds is not known in advance. Past performance is only a guide to future performance. The only defence is to become an educated consumer, and to learn how to discern the facts behind all of the hype that is sure to come. Use these pages and the internet to check out your options,
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