"Your superannuation product has performed poorly under an annual performance test that was introduced by the Australian Government…"
Have you received this letter in the post recently? Still unsure what to do?
The government has brought into effect the ‘Your future your super’ reforms, conducting regular performance reviews across the industry in order to highlight poor performance.
We have heard plenty of people state that they saw their super had been growing and presumed that it was performing well… Which is part of the issue! Without a transparent and independent way of monitoring your current supers (say 8%) return against the others available, how on earth would you know!? 8% doesn't seem so bad until you realise some funds achieved close to 20% returns this past year!!
To put this into perspective, think about investing in any other asset. Say a house, or a particular stock. You would keep track of how other houses in the area, or comparative stocks, are performing… But with superannuation, one of your biggest investments (bar a house) there is no simple way to track this.
At supa we are solving this problem. While we are building our full service offering, we have decided to make available our (supa) simple comparison table to enable reviewing superannuation products much easier.
It clearly shows performance, fees, and independent research (from Market Forces) on ESG factors. Including investment strategies regarding oil/ gas, coal and net zero targets. Just toggle the filters and narrow down the fund best suited to you.
Create a free account with just your email and have a play. You don't need to be a financial expert to get a feel for what is going on.
At supa we are working to build a totally transparent, independent platform where you can review, manage and compare your supers performance, fees, and ESG credentials against the market.
The next step is to help you transfer and provide a more streamlined service to compare products. So if you like what we are about, sign up, and don't forget to share with friends and family to help spread the word!