Superannuation rules in Australia seem to change with almost every federal budget, regardless of which political party might be in power. Working with your Financial Planner to make sure your Super Fund has the right features for you is critical to a good financial plan. Some of the key points LFS looks for in selecting a super fund are:

•  Refund of Imputation (Tax) credits to the member’s individual account.
• The ability to re-invest dividends.
• No fee to switch investment holdings.
• A range of quality Fund Managers in individual investment sectors.
•  Low ongoing management and administration fees.
• Quality insurance products incorporated for those who need the insurance cover.
• A quality administration team behind the Super Fund.
• Transparency of ownership of the Super Fund.

“Maximising your superannuation balance for retirement is the most tax effective way to retire, but it has to be done within the current rules. Knowing these rules is our business.” says Chris Harrower.

With many years’ experience in providing superannuation advice, the LFS advisers can analyse your super funds and rationalise them into the right funds for your situation.Taking into account:

• Your risk profile
• Your life insurance needs
• Your income insurance needs
• Your total disability insurance needs
• Your employment arrangement
• Your savings capacity
• Your non-superannuation investment position

“We always worry when someone tells you to put all your super into one fund.” says Simone Vanden-Driesen, “If you close your funds that have your life insurance, disability insurance and income insurance in them, you might not be able to get the same cover, or have to pay a lot more for it. I see people online telling their friends to do this all the time, and it scares me”.