It’s simple to pick an excellent super fund if you know what to look for.

You’ve begun your first job, and your boss wants to know to which super fund he or she should pay your mandatory contributions. You’ve been working for a while, but you’re concerned that your superannuation account balance isn’t growing as quickly as it should due to low investment returns. You wish to open a new super fund account that is different from the one your employer has set up for you.

The issues are the same whether you’re choosing your first super fund or a new one to switch into: what should you look for and how do you know it’s a solid fund?

Knowing the four basic characteristics of a super fund might help you make the best decision. Superfunds that outperform their peers in each of these areas are considered good. Please see the table below.

The Four Core Elements of Every Fund

Investment menu: It offers a variety of options for investing your superannuation savings.

Fees: It simply charges fair fees. Make sure to evaluate all expenses, including admission fees, administration fees, membership fees, and all investment fees and charges, when comparing fees.

Insurance: Death, total and permanent disability (TPD), and income protection insurance are all available through most super accounts. If you want this insurance coverage, make sure it is adequate and reasonably priced.

Extra features: Most super funds offer a variety of supplementary features and services to assist you in managing your superannuation assets, planning and preparing for retirement, and monitoring the performance of your super fund. Above all, your retirement fund should be simple to manage.

Five Signs of a Good Superannuation Fund

1. You have faith in the company and the individuals in charge of the fund and its superannuation products.

2. Over the medium term, such as three or five years, the investment options you intend to use generate above-average investment returns.

3. It has reasonable fees. The typical annual fee charged by super funds is roughly 1% or less.

4. It provides cost-effective insurance as well as the forms of insurance you require. A mix of death, TPD, and income protection coverage may be available.

5. It provides a lot of extra features and services, and it’s simple to use.

Narrowing down your choices

Follow these five simple steps to help you limit down your super fund options.

Step 1: Flexibility and options

Do you prefer a straightforward, easy-to-understand super fund or a more complicated one? Do you want a wide range of investment options? Do you want the fund to make investment decisions for you or do you want to make them yourself? Do you want the fund to consider environmental and social considerations when selecting firms to invest in, invest in technology, and avoid tobacco corporations? Do you want your fund’s investments to be publicly disclosed on a regular basis?

Do you want insurance, and if so, what kind and how much do you want? Do you want to be able to log into your account from your phone or tablet? Do you want webchat for your fund? Do you need help with that or would you like to speak with a financial advisor? Do you want to be able to package additional services such as house loans, health insurance, and shopping discounts?

These are important because the more services you want, the greater the fee, and the higher the investment returns on your superannuation fund must be to meet the fees. To put it another way, if you want a lot of control over your super fund and want it to be flexible, seek for funds that offer a variety of investing and insurance options. However, be prepared to pay a greater price.

2. Kick the tyres

To see if they reply, go to their websites, read their official documentation, such as their Product Disclosure Statement, call or email them, use webchat to contact them, or send them a social network message.

Step 3 – Everything can be found in the investment menu.

To see if they reply, go to their websites, read their official documentation, such as their Product Disclosure Statement, call or email them, use webchat to contact them, or send them a social network message.

Step 4 – Does the fund have a good research rating? There are a number of independant research houses that provide annual reports on their views of a number of superannuation funds on the market.

Step 5: Make a list of questions to ask.

If you’ve narrowed your options to only a few funds and want to compare them in depth, why not request a Member Report Card from the SelectingSuper team?

In conclusion, both type of Superannuation funds have their pro’s and con’s and if you are unsure about which one is best for you then it is best to speak with a professional about your options as this will eventually be your nest egg in retirement with significant tax benefits, potential inheritance for your beneficiaries and also possibly one of your biggest assets besides your family home.

Contact us and find out more.







The information in this website and the links has been prepared for general information purposes only and does not take into account your personal objectives, financial situation or needs. It is not intended to provide commercial, financial, investment, accounting, tax or legal advice. You should, before you make any decision regarding any information, strategies, or products mentioned on this website, consult an Authorised Financial Advisor or Professional to consider whether it is suitable and appropriate for you and your personal needs and circumstances.

Ronald Pratap

Principal Financial Planner at RP Wealth Management | Financial Planning l SMSF I Insurance l Property Advisory. Our purpose is to provide our clients with sound advice and direction to assist with their financial affairs and help them make the best choices in achieving what is important to them.

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I had the pleasure of meeting Ronald for my first consultation and he explained everything step by step to myself whi has no financial/investing experience.I was terrified of making a move to seek financial advise and he simplified it for me the best he could and left me with comfort in making the right decision by approaching RP wealth management. I'm excited for the journey ahead of taking control of my finances.Thanks again Ronald
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Shadia Haoui
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Pat Zarzour
Pat Zarzour
11:15 09 Aug 23
Ronald is a very experienced Financial Advisor and very professional. Nothing is a trouble for him he goes over and above always being patient and explaining everything that is required for the client in their best interests. He is so knowledgeable and his presentations are amazing well set out and easy to understand. So glad we were referred to him he has helped myself and husband so much. 5 Stars for sure thanks Ronald.
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Nicole Ferraro
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4 months ago I sought out advice on financial security, investments and retirement. At my 1st consultation I found Ron to be welcoming, friendly and professional. He was honest and upfront about the services he offered.Since then Ron and I have discussed options and strategies, combining my current financial situation and superannuation. His expertise, knowledge and access to a broad range of financial products helped in developing a personal customised plan.I'm very happy to recommend RP Wealth Management Ron and his team. They get 2 thumbs up from me.Thank you Ron for your support and guidance. I look forward to your continual advice in the future.
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Shirley McNicol
14:23 17 Jul 22
Great team, very helpful.Ronald always goes out of his way to assist with any questions I have and there is constant engagement, great reporting and a real sense of the team being there to support and help you. I must admit I was sceptical about seeing a financial advisor, I had worried I was going to meet with some slick salesperson interested in cashing in on my inexperience and trying to sell me a bunch of things I didn't really need. Ronald was the complete opposite to this, he has been open and honest and genuinely interested in our goals, we will not be changing, and we will be sticking with the team at RP Wealth Management.
Justin Read
Justin Read
00:02 30 Mar 22
Ron and team are very professional, patient and very transparent.Very happy to have found Ron and working on my needs.
Vinodh Kumar Ravinder
Vinodh Kumar Ravinder
17:52 24 Feb 21
Ronald is very informative and professional and I have no hesitation to recommend him highly.
Chris Bakalian
Chris Bakalian
04:30 02 Jun 20
Ron and the team are extremely professional and knowledgeable, complimented by exceptional customer service.
Michael Ferella
Michael Ferella
04:11 27 May 20
Ron is honest, intelligent, trustworthy, and hardworking adviser. Always goes above and beyond to ensure he gets the best outcome for his clients. Highly recommended!
Petra Novakova
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12:25 06 Feb 20
Ron is amazing!! He is so easy to talk to and explains things so you can understand everything. If we had any questions about anything he was always there to answer our questions. Definitely recommend him.
Jessica Lanzendorfer
Jessica Lanzendorfer
09:05 11 Oct 19
Ronald is a great person to deal with...explains everything very clearly and goes through all your options...looks out only for his client not any personal gain..I feel confidence that my wealth management and finances are handled correctly with his guidance
Jordan Mijalkov
Jordan Mijalkov
07:57 24 Sep 19
Ron and his team have a wealth of knowledge in the industry and have referred relatives and clients, whom have been satisfied with his service to ensure that they are adequately protected.
Daniel Caldwell
Daniel Caldwell
22:24 07 May 19
Have had a great experience, have felt all meetings and communication to be very informative and honest in areas I was uncertain about.
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Josh Saumatua
08:34 22 Jul 18
Very knowledgeable and informative. Happy to answer all questions and always responds to my calls/emails. Takes control which makes for a simple and seamless process.
Dee Bee
Dee Bee
12:24 20 Jul 18
Ronald is so easy to deal with and helps you every step of the way to make it so efficient and quick to fill out paperwok. He is very professional and makes it all happen so quickly. He always picks up the call or gets back to you, What else can you ask for. Great guy and service
Mibu Medispa
Mibu Medispa
08:08 16 Jul 18
Very professional and consistent in his work with truckloads of knowledge in his industry. He helped me with my life insurance and did a fantastic job from start to finish. Walking me through the entire process and always following me up. I would not hesitate for a second to recommend Ronald’s services to anyone. Great guy. Great professional. Great service.
Caterina Romeo
Caterina Romeo
01:07 18 Apr 18
I met Ronald in a professional capacity, and his willingness to share his insights and his enthusiasm for the work that he does clearly shines through. I'd highly recommend connecting with him if you're looking for an adviser who holds great integrity in the way they support their clients.
Shannyn Merlo
Shannyn Merlo
08:32 23 Feb 18
Great service and very helpful
Dragan Jelic
Dragan Jelic
01:25 27 Oct 17
Ronald is great communicator and very knowledgable with his financial advise. He helped my wife and I structure a better protection plan covering life insurance, trauma cover and income protection. Easy to discuss any questions we had and generally very helpful. I highly recommend talking with Ron!
James Newman
James Newman
03:38 25 Sep 17
Ronald is a really easy going guy to deal with. He will go above and beyond to ensure he finds out all the details and gets you the best cover for your circumstances. Ronald made the process of getting Trauma Insurance and Life Insurance very easy - much easier than I thought and it was surprisingly cheaper than I thought it would be too. I really recommend you see RP Wealth Management.
Hayley Pieplenbosch
Hayley Pieplenbosch
05:55 28 Jul 17
I needed general financial advice and he delivered with the lingo I easily understood. Friendly guy and always approachable. Would highly recommend him to anyone!
Gorgi Serovski
Gorgi Serovski
13:09 22 May 17
A hard working and diligent professional, Ronald certainly places his clients needs first in all situations. Keep up the good work!
Shaun Pereira
Shaun Pereira
00:14 19 May 17
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