Author: Recruitment Super

In the realm of financial planning, particularly concerning estate planning and superannuation funds, the concept of a Binding Death Benefit Nomination (BDBN) holds paramount importance. In essence, a BDBN is a legal document that allows a member of a superannuation fund to specify who will receive their death benefits in the event of their passing.…

Why Nominate Beneficiaries for Your Super? Superannuation operates differently from your regular assets. Unlike your house or car, super is held in trust for you by your super fund’s trustee. Your will, which dictates the distribution of your estate (possessions), doesn’t automatically control who receives your super. Here’s why nominating beneficiaries is vital: Who Can…

Changing jobs is an exciting time, but it can also raise questions about your financial well-being. One key concern is the fate of your superannuation – the nest egg you’re building for retirement. Here’s a breakdown of what happens to your super when you switch employers and the options available to you. Stapled Funds and…

Understanding Investment Options Superannuation funds typically provide a range of pre-mixed investment options catering to different risk profiles. These options vary in their asset allocation, which is the proportion of your super invested in different asset classes like shares (Australian and international), property, fixed interest (bonds), and cash. Factors to Consider Before Switching Deciding to…

This article dives into the various investment choices commonly available within super funds in Australia. Understanding Asset Classes Before exploring specific options, let’s break down the fundamental building blocks: asset classes. These represent different categories of investments, each with its own risk-return profile. Here are the main ones you’ll encounter: Pre-mixed options: These are the…

Key Factors for Super Fund Comparison: Comparison Tools and Resources: **Beyond the Numbers: ** While the factors mentioned above provide a strong foundation for comparison, remember to consider the following: Taking Action: Once you’ve shortlisted a few potential super funds, delve deeper by: Conclusion: Comparing superannuation funds requires a thoughtful approach. By understanding the key…

Types of Superannuation Fees There are several fees levied by super funds, each serving a specific purpose. Here’s a breakdown of the most common ones: Impact of Fees on Your Superannuation Balance Superannuation fees, though seemingly small, can significantly impact your long-term savings. Even a seemingly minor difference in fees can compound over decades, leading…

Having multiple superannuation accounts can be a headache. Keeping track of fees, monitoring performance, and rebalancing contributions all become more complex with each additional account. Fortunately, there’s a solution: consolidation. By merging your super into a single account, you can streamline your superannuation management and potentially boost your retirement savings. This article provides a comprehensive…

The Power of Choice: Are You Eligible? The good news is that in Australia, you generally have the power to choose which super fund manages your retirement savings. This applies to various employment categories, including: There are some exceptions, such as employees on temporary work visas. It’s always best to check with your employer or…

Superannuation (super) in Australia offers a unique way to save for retirement while reaping significant tax benefits. By understanding these advantages, you can make informed decisions about contributing to your super and potentially lower your tax bill. Concessional vs Non-concessional Contributions There are two main types of super contributions: concessional and non-concessional. Tax Benefits of…