Superannuation Rip Off

Superannuation RipOff - Trading Game

 

Just got an email back from BT Super as I emailed to ask them what the fees and charges are for my super.

Turns out I'm paying $160 per year for insurance and 2.43% and 2.5% respectively for the 2 funds I have the money invested in. Both funds are high growth, one fund is BT Core Global Share fund and the other is an MLC Global Share Fund.

I have been looking at ETF's of late and am wondering if these are a better way to go for their lower fees and overall structure?. I'm only 35 years old and have ages to go before I need it.

 

please note , i have conflicted interests here

i hold BTT ( 'free-carried ' ) and several styles of ETFs ( and shares and LICs etc. )

that disclosed first up ..

first check the fine details on your insurance ( in the fund ) is it a wise thing to keep going ??

side story a buddy had a company supplied super-fund that included a fistful of insurance , TPD , lost earnings etc. and it looked expensive , but whilst working he had a major heart attack ( a drop to the floor type followed by an ambulance ride , not guessing maybe , could be ) , he 'recovered ' from the heart attack and since he had a sales job , the insurer encouraged him to go back to work , speedily .... about one month later .... another heart attack ( at work ) and that was worse and more complicated .... now the insurer has paid for the six year battle over the payout ( does he find a new job or do they payout big-time .)

so the insurance hit wasn't so bad in the long run in his case ( unless you are the insurance company )

check the latest rules on worker/super insurance you MAY be able to opt out of that ( if you choose to )

another option might be to roll the funds together ( best of luck picking which one will perform better in the next 20 [plus ] years )

 

There are many available lower cost options in BT super. Just do your research. They even have Vanguard funds there which are low cost.

I like my BT super because it’s an emplyer plan I get rebates on admin fees and advice fees.