Asking here, as, let’s face it, this would make up a large portion of those who subscribed here.
I’m ex APS and my super offering when I joined was public sector superannuation accumulation plan (PSSap). - edited due to doing the unsavoury assumption that people know the APS-centric initialism, but figured only pubes would answer
The returns are shit, and the fees are high. I don’t have consistent income these days but I do contribute to my super as much as I can. But it’s pretty dispiriting to see what I do add getting chewed up by fees.
Any recommendations for a move? Bonus points for ethical investments.
I’ve tried my hand at researching better options but my brain and numbers aren’t friends and I end up getting frustrated and not getting very far.
Should add, I’m in my late 30s so retirement is a fair way off.
I welcome any recommendations or must-avoids.
Unless you have been told a specific private super fund has a history of higher returns than industry supers, go with industry super funds, hostplus has a good track record. There are insurances you can choose to pat or not pay, but be aware and understand those.
Theres a catch to ethical funds. Yes you have divested, but by no means will the finance investors of the world divest. This means ethical funds avoiding certain company’s stocks can actually make them cheaper to buy, while company profits remain the same, meaning those who do invest, maybe less scrupulous people, make higher returns than those who avoid. It also cuts your fund out of influencing the direction that company goes in, which may lead to less ethical actions than if you were in. If enough people divest, then you could impact a company’s borrowing capacity. So it is really a personal impact decision and maybe actually negatively impacts the E.C.G. direction of the market. That being said, specific investments into ECG company commitments can be influential.
Seek financial advice, don’t sue me etc…
I feel like this is a rich person’s post.
Following, to see how the rich acronym.
You’ll get the lowest fees by using something that offers an Index but requires you to roll your own mixture. QSuper/ART allows you to do this. They have some ethical options I think.
Also check out https://passiveinvestingaustralia.com/ once you can think again
