Further information about Super

Those who are approaching retirement, have complex tax or investment needs, have large amounts in superannuation, or find super complex and confusing should seek advice from a licensed financial adviser. 

Choose a licensed financial advisory business that is an expert in superannuation. Information about getting financial advice is available at MoneySmart. 

Alternatively, GESB members could consider GESB’s Retirement Options Service, or attending one of the seminars or webinars offered during the year. Find out more.

Before seeing an adviser, gather information about your current superannuation fund, and the questions you want answered.

If your adviser recommends changing funds, always ask why it will benefit you, whether you will lose any benefits from your current fund, how fees and charges and the five-year investment performance compares with your current fund, insurance differences, what charges will apply, and what other significant changes will occur. Ask your adviser to set this out clearly in the Statement of Advice they give you.

Your employer will be able to give you information about choice of super fund, the employer default fund, and how to nominate your chosen fund.

However, your employer cannot recommend which super fund you should choose or whether you should choose another fund, as this is likely to be considered financial advice. In general, the law requires anyone providing financial advice on superannuation to be licensed by the Australian Securities and Investments Commission, so do not seek financial advice from your employer unless they are licensed to provide it.