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Monday, May 5, 2014

Industry Super fund benefits employees


A Super Fund that is right for you!


Brendan O’Farrell, CEO of Intrust Super is a great believer in educating members and employers in all aspects of super. Here, he explains the rights of employees to choose their own super fund and also some of the things you should look for when choosing a fund that’s right for you.
Brendan O’Farrell,
CEO of Intrust Super


Mr. O’Farrell said that Choice of fund means working Australians can choose which fund their Employer Superannuation Guarantee contributions are paid into.

If you’re eligible for choice which most of us are, your employer is required to provide you with a Choice Form when you commence employment so you can nominate your fund. You also have the option of changing your chosen super fund every 12 months.

O’Farrell also said that Australians need to be aware that if they don’t make a choice, their super will be paid into their employer’s nominated fund, which may or may not suit the employee’s personal situation.

Choosing a fund to help grow your retirement savings is a very important decision. You need to compare things such as the fund’s returns, fees and insurance against each other.

Here are a few handy pointers he gave on what to look for when choosing.

Is the fund an industry fund? – The benefits of choosing an industry super fund are many. They normally have lower fees, there are no commissions paid to sales people, all profits are returned to members and the products are geared towards the industry they serve.

Investment Performance – How do the fund’s investment returns compare? Are they above the average fund return over the long term?

Investment Choices – How many investment options do they offer, and do they suit you now and in the future?

Insurance – What types and levels of cover are offered and what are the costs?

Fund for Life – Can you take any of the funds with you when you change jobs?

As an industry fund for the hospitality industry Mr. O’Farrell recommended that Intrust Super is definitely worth taking a look at when you’re making a choice. With proven returns, low fees, competitive insurance and products designed for casual and part time employees not just full timers. Best of all as a 100% industry fund, Intrust Super put all profits back into our members’ pockets.

Intrust Super will help you with any questions you may have in regard to Choice of Fund or your super in general. So give Intrust a call on 132 467, they will be happy to help.

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