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Trying to work out what my super is (handled by watson & Wyatt)

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Stonewall, 7th Dec, 2007.

  1. Stonewall

    Stonewall Member

    Joined:
    9th Aug, 2007
    Posts:
    20
    Location:
    Adelaide
    My company has its own super fund - I assume its some other fund that is just rebranded. I know its admin'd by Wyatt & Watson - but thats all.

    Gov registration
    Super Choice Product - Employer Sponsored Fund - Clemenger Superannuation Plan
    Customer access
    MySuper
    Watson Wyatt site
    Watson Wyatt Australia - Home

    Be handy if I knew if it was one of the funds that have a rating here:
    SuperRatings, Australia’s first organisation truly specialising in researching all parts of Australia’s major superannuation funds.
    I just want to do some comparisons - or read someone elses really. I dont care enough to get out the pen and paper on this one.


    Any help would be appreciated greatly - ta
     
  2. Stonewall

    Stonewall Member

    Joined:
    9th Aug, 2007
    Posts:
    20
    Location:
    Adelaide
  3. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Stonewall,

    I'm intrigued why you want to move out of your employer's corporate super fund?

    Cheers,

    Dan
     
  4. Stonewall

    Stonewall Member

    Joined:
    9th Aug, 2007
    Posts:
    20
    Location:
    Adelaide
    I just started a new job - and im wondering if I should really end up with Another Super fund. I have 5-6 already. I'd like to just choose the best one on a case by case basis and roll all my money into it.

    such a pain the butt researching it though.
     
  5. AsxBroker

    AsxBroker Well-Known Member

    Joined:
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    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Stonewall,

    Gotta love SuperChoice :)
    It makes the lives of default employer funds a little harder...

    You should do some research into your new employer's default fund as they will start paying Super Guarantee Contributions (SGC) into the fund shortly.

    Compare it to your previous funds to see whether you want another fund or utilise an existing fund.

    Cheers,

    Dan

    PS This is general information. Speak to your FPA registered Financial Planner before making an investment decision.
     
  6. Stonewall

    Stonewall Member

    Joined:
    9th Aug, 2007
    Posts:
    20
    Location:
    Adelaide
    Hi,
    Do you mean Clemengers specifically? or industry funds in general?
    ta
     
  7. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Stonewall,

    Your employer MUST within the first 30 days of employment give you a Super Choice form which looks a bit like page 4 and page 5 of this (http://www.ato.gov.au/content/downloads/n13080.pdf).

    If they don't give you a Choice form they are breaking the law (and naturally you can complain to the ATO).

    Once they give you this form, it will say their default fund which you should investigate (as well as your previous funds) to choose which is the best for you.

    Cheers,

    Dan

    PS This is general information, before making an investment decision you should speak to your FPA registered Financial Planner.
     
  8. Stonewall

    Stonewall Member

    Joined:
    9th Aug, 2007
    Posts:
    20
    Location:
    Adelaide
    yep cheers.

    I am going with the default fund now - it looks pretty ok. Ill get my friend who has some super comparison software to give me a recommendation as well.