FAQs

Having multiple superannuation accounts may result in paying more than necessary due to the different administration fees, charges, and life insurance premiums charged by each fund. It is advisable to consolidate all your super into one account to reduce costs and allow your super to grow faster.

- Compare funds - It's a good idea to use a superannuation comparison website to see how your fund compares to the top-performing ones. Keep in mind that performance can vary year to year and past success doesn't guarantee future results, but choosing a fund with a proven track record of stability and success is wise if you have the option.

- Decide - Choose a fund that suits your financial needs

- Check your insurance - Ensure that the insurance coverage level you select for the fund is suitable and attainable.

- Open an account - Don't forget to create an account with your chosen superannuation fund and provide your employer with all necessary information for contributions. Make sure you're satisfied with the level of insurance before making any changes.

- Notify your employer - Ensure that your employer knows the correct location to deposit your superannuation contributions and the appropriate way to identify you while transferring the funds into the account.

- Roll over super to your selected fund - To get a detailed understanding of how the Australian Taxation Office (ATO) monitors your superannuation, visit their website. You can access this easily through myGov online. In case you want to transfer your balance to another fund, get in touch with them via their website or phone.

Many people think that the money in their industry fund is automatically reinvested in their industry, but this is not true. Superfunds invest in various assets such as stocks, real estate, bonds, and cash equivalents in both local and international markets.

Regardless of the industry you work in, it should not impact how you approach investing or affect your retirement goals. Some people prefer to take a cautious approach when investing while others look for ways to maximise the safety and productivity of their funds so that they can retire with confidence.

While most Australians may not have concerns about their superannuation, they often lack knowledge about the essential factors to consider when selecting an appropriate super fund. To simplify the decision-making process, it is important to understand three key elements: Fees, Returns, and Risk.

Many superannuation funds have different types of fees, including management fees, administrative charges, insurance premiums, and indirect cost ratios. Unfortunately, these extra costs may not always be transparent on your super statement. Our experts can help you understand these expenses so that you have a clear understanding of all the fees associated with your fund. Join us today to gain a comprehensive understanding of your fund costs.

It is important to regularly review your superannuation funds because investment returns can change over time. A fund that previously performed well may not be the top-performing fund anymore, and what looks like the best option currently may become outdated quickly. To stay ahead and ensure you continue to see positive performance, it's important to keep your strategies up-to-date.

Many people are aware of the specific investments they make with their own money, but they may not be aware of the level of risk and market exposure associated with their superannuation investments. It is surprising that most Australians don't know enough about their retirement savings. Therefore, it is crucial to gain an understanding of how your superannuation savings are being invested to avoid being uninformed about your financial future.

Having a review of your superfund can give you peace of mind and assurance that you are making the right decisions with it. By making a small adjustment today, you may be able to retire sooner or have more savings in the future. Don't delay, take the time to understand how your superfund works and how it can be improved!

Saving money through superannuation is a good tax-efficient strategy for Australians who want to build retirement savings. Your employer usually contributes on your behalf, and you can also make personal contributions. Professional investment managers will manage this pool of funds to help them grow over time. Investing in superannuation now can provide a financial safety net in the future and is something that all Australians should consider.

Our phone-based financial advisory service has proven to be highly efficient for our clients even before the COVID-19 pandemic. It enables us to help people across Australia at a lower cost and with extended working hours, making it convenient for everyday Australians with busy schedules to speak with an advisor for free and without any obligations. While we acknowledge that this approach may not suit everyone, most of our clients find our process simple, easy and convenient.

At Creative Super, you won't need to pay anything upfront to have your superannuation reviewed. Our fees are based on the advice we provide for your specific situation, and we will inform you of the cost before you make any decisions. If you choose to go ahead with our advice, you can pay our fee easily through your superfund without any out-of-pocket expenses.

Our financial advice services used to cost money before we could begin working with you. However, we believe in helping people, so we offer our services for free until you are happy with the results and strategy developed for you. Even if our help doesn't result in any changes, you will still learn more about your own superannuation, which is always beneficial. Additionally, following our advice could potentially lead to a brighter retirement funded solely from your retirement savings.

Before consolidating your super, it's important to carefully consider factors such as insurance options, risk profiles, fees, and fund performance. Failing to do so could result in permanent and costly repercussions. While consolidating your super can be a smart choice, it's crucial to thoroughly assess all the additional components beforehand. Many people struggle to analyse and choose from the numerous options available to them, considering their unique circumstances. It is often more advantageous to enlist the help of a professional to set up your superannuation or other areas that require specialised knowledge, like car maintenance or construction. With the guidance of an expert, you can achieve your desired outcomes.

Previously, financial advice or analysis required an upfront payment. However, we are committed to helping people and will not charge you anything until you are pleased with our outcomes and tactics. Even if the end result is not in your favour, you will gain useful knowledge about superannuation. On the other hand, if you follow our plan for a better future, your retirement funds will substantially increase as the best-case scenario.

To give you an accurate answer, we need to know which fund you're currently in. However, many super funds tend to recommend and promote only their own products, even though there are numerous other options available. With so many funds and investment choices to choose from, it can be overwhelming to make the right decision. At Creative Super, we have no affiliations with banks or superfunds, so we provide unbiased advice that reflects what's best for your needs, not our financial gain.

Many financial advisors charge high fees for their services, and there's no guarantee that you'll see a positive outcome. However, that's not the case with us. We are dedicated to assisting people in optimising their finances, and we only charge if you are satisfied with the outcome. Even if our services don't lead to financial benefits, you'll gain valuable insights into your superannuation. And if everything goes as intended, you could also receive additional funds for your retirement.

It can be difficult to tell if advisors in Australia with bank or superfund affiliations are giving impartial advice, especially since they make up almost half of all advisors.

Unlike other financial advisors who charge fees upfront, we offer a unique approach. We prioritise helping our clients achieve their goals before accepting payment. Even if you don't end up making any changes to your superannuation, you'll still gain valuable knowledge. And if everything works out, your financial future will be brighter without any out-of-pocket expenses since early withdrawal from retirement funds is not allowed.