“Down to earth” choice guide released

To fulfil its educational responsibilities in the lead up to super choice, the Federal Government has made a booklet available to guide consumers in straightforward language on how they can take control of their super independently.

Produced by the Australian Securities and Investment Commission, Super Choices contains tips for consumers on how to compare retirement benefits, insurance benefits and fees between different super funds with the help of a super calculator and a ‘do-it-yourself’ worksheet.

However, the first page recommends that consumers consult a financial adviser if they want more personalised financial advice.

“The information here can start you off on the right foot with general tips and explanations. However, not all of these ideas may apply to every fund or to your own circumstances. If you want personalised advice about super see a financial adviser,” the booklet says.

The rest of the 28 page booklet, released just weeks after the Government launched its super choice advertising campaign, includes chapters entitled ‘Choosing a fund’, ‘Choosing your investment strategy’, ‘Complaints about your fund’ and ‘Getting super before your preservation age’.

“No one can reliably pick which fund will perform best. It’s far more reliable to pick the right investment strategy and fund features with low fees, and take the ups and downs of investment performance in your stride,” is one of the booklet’s tips.

Super Choices can be downloaded from the Government’s super choice website at: www.superchoice.gov.au.