There are plenty of misconceptions when it comes to superannuation, and believing the wrong information could mean missing opportunities to improve your retirement position.
In this radio segment, we explore three common misconceptions:
1. “My employer contributions will be enough for retirement.”
While compulsory employer superannuation contributions are an important part of building your retirement savings, they may not be enough on their own to achieve the retirement lifestyle you want.
2. “I only need to review my super when I’m getting close to retirement.”
Your super can benefit from regular reviews throughout your working life. Your circumstances, goals, investment options and insurance needs can all change over time.
3. “All super funds are basically the same.”
Different superannuation funds can offer different fees, investment options, insurance arrangements and features, so it’s important to understand what your fund provides and whether it remains appropriate for you.
