November 2009 Vol. 1, Issue 10 (PDF - 16.2Mb) - Department of ...
November 2009 Vol. 1, Issue 10 (PDF - 16.2Mb) - Department of ...
November 2009 Vol. 1, Issue 10 (PDF - 16.2Mb) - Department of ...
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Shine<br />
How much are you prepared<br />
to pay in parking fees?<br />
What you do with your super when you leave work can be a<br />
daunting decision. Some financial planners recommend you ‘park’<br />
your super in a low risk investment until you decide what to do.<br />
Sounds sensible. But beware <strong>of</strong> ‘parking fees’ that may apply.<br />
Investment<br />
$600k<br />
$641,000<br />
$602,000<br />
If you park your funds in a retail super fund, you may pay<br />
significant fees plus commissions to the adviser. On an<br />
account balance <strong>of</strong> $300,000 the fees could mount up<br />
to $5,000 every year. *<br />
The graph on the right shows just what a difference who gives<br />
you advice and where you place your investments can make by<br />
comparing a fee for service adviser with a commissioned planner. **<br />
If you are lucky enough to be an ESSSuper member, an<br />
ESSSuper Accumulation Plan <strong>of</strong>fers a safe, low fee alternative.<br />
You have the security <strong>of</strong> a ‘cash’ investment option with the<br />
benefit <strong>of</strong> low fees and no commissions.<br />
$300k<br />
Initial<br />
Investment<br />
2 yrs 4 yrs<br />
6 yrs 8 yrs <strong>10</strong> yrs<br />
Commission based fees Fee for Service<br />
You can continue to make contributions, including from casual<br />
relief teaching, transfer in balances from other funds and more.<br />
And you don’t have to wait until you retire to join. Call us<br />
to find out more about the flexible benefits <strong>of</strong> an ESSSuper<br />
Accumulation Plan. The talk is free and it could save you a lot<br />
in unnecessary fees.<br />
Call our Member Contact Centre today on 1300 655 476.<br />
ESS1904_Shine<br />
* Based on management fees <strong>of</strong> 1.21% <strong>of</strong> the account balance p.a. and 0.55% commission in the first year and 0.275% thereafter.<br />
** Reference: http://iffp.com.au/fees_fee-for-service_vs_commissions.htm<br />
This advertisement has been prepared by the Emergency Services Superannuation Board ABN 28 161 296 741. The information<br />
contained in this brochure is <strong>of</strong> a general nature only and it does not take into account your individual objectives, financial situation<br />
or needs. You should carefully read and assess whether the information is appropriate for you and consider obtaining independent<br />
taxation, legal, financial and other pr<strong>of</strong>essional advice before making an investment decision.
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