The government recently released a report on it’s review of the superannuation system. A number of issued were identified including prevalent high fees, unintended multiple accounts, chronic under-performance of certain funds and a lack of competition in the default fund system.

How does this affect me? Here are some simple tasks you can undertake:

  • Regularly review your superannuation account(s)
  • Consolidate multiple accounts to save on fees
  • Review what insurance cover you have in your super fund
  • Discuss how super impacts you and your tax with us at Gerhardy Whitelum

The full report and an overview are available on the Productivity Commission website.