Reasons for changing
Changing funds is an important step, so think carefully, and compare funds before you make a decision.
Good reasons to change funds:
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You are changing jobs and your current fund is not available with your new employer.
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You want to consolidate your superannuation accounts to cut costs and paperwork.
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You want lower fees and/or better services.
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Your current investment option within your fund has performed poorly over a period of five years or more compared with similar investment options from other funds.
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You want investment options not available within your fund.
Bad reasons to change funds:
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You are worried because your fund declared a negative return last year (remember, it's best to judge performance against objectives and over the longer term).
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You want to jump on the bandwagon of a top-performing fund (the same fund may perform poorly the following year).
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You are offered early access to your superannuation or inducements.
Visit the Australian Securities and Investments Commission website for more information about changing superannuation funds.
| Look at a fund's annual report and website and contact them with any questions, to see if you'd feel comfortable joining. |