Face to face or over the phone, speak to us about how professional advice can help you plan for your retirement.
Getting started
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Show transcript
Super-annuation what you ask? Superannuation. It's an important way that current you can help out future you. It sounds complicated, but it's not. In fact, it's something that happens without you having to do much at all.
When current you has a job, your employer pays your salary, and puts a bit extra in super for future you, currently 9.5% of your salary. The money is still yours. It's just put into an account for safekeeping, so that one day, future you will be able to live a bit more comfortably.
All employers must make super contributions for employees, thanks to a little thing called the superannuation guarantee. It means that if you're 18 years old or more, and earning $450 before tax per month, you should be entitled to super. If you're under 18, you'll also be entitled to super if you're working at least 30 hours a week.
The money is held in a super fund, and just like banks, there are many to choose from. Which one you choose can make a big difference on how much super you end up with. While you're filling up your super from the money you earned, your fund can make investments for you, which can help grow your savings, so you want to choose a fund like Australian Super, with low fees and strong investment returns, and where profits go back to the fund.
Insurance is important because it can help protect both current you and future you financially. If current you gets injured or is too sick to work, it's important to remember that just as you're filling up your super, money can trickle out through fees, the cost of insurance, taxes, and loss from investments, so it's worth taking the time to choose a good fund when you start working.
While future you seems far away, there are a few things that current you can do to help them out:
- Our online calculators let you explore different financial scenarios.
- Attend a free retirement planning seminar to hear from one of our experts and get your questions answered.
- Give us call. Our team is ready to help you with any questions about your super. The good thing is, most of our over the phone advice comes with no cost. Advice like adding to your super, making an investment choice, or sorting your insurance.
- You can also meet with an advisor face-to-face. They'll work with you directly to sort out more complex financial issues. With complex advice like meeting with an advisor, there's a fee. Don't worry, the first chat won't cost you a cent and you'll agree to any costs upfront. There's also options to pay for advice with savings from your AustralianSuper account. To do this, there's a few rules that apply, like ensuring that the advice you receive is solely related to your super. Unlike many banks, we never pay advisors incentives, bonuses, or commissions ever. Because we put you first in everything we do, you can rest assured that our qualified advisors are guided by a set of principles that always put your best interests front and centre.
If you're serious about making a better tomorrow and growing your future, start now with expert advice because your future matters.
How much does advice cost?
You’ll be pleased to know that any general information, like adding to super or information about insurance cover or investment options is provided by the fund at no additional cost – just ask for a Super Health Check. And simple, personal advice over-the-phone, such as contributing to your super, changing your investment options to suit, or how much insurance you may need is also paid by the fund.
Some simple, personal advice like transitioning to retirement options or starting an income stream in retirement may be subject to a small fee. This is discussed before any work is started.
For more complex advice, your first face-to-face consultation is complimentary. After that, your adviser will agree any costs upfront with you in writing. You can meet with an adviser either at one of our CBD offices located in every state and territory, or you can find an adviser within your locality from our registered network. And where available, you may have the option to meet with an adviser using a secure video link from the comfort of your own home.
We don’t pay advisers incentives, bonuses or commissions. Ever.
Advice fees are charged on a no-commission, fee-for-service basis†. Where a Statement of Advice (SOA) is prepared, you may be quoted a fee for the advice based on its type and complexity.
Pay for advice with your super
Most members can choose to pay for advice by using savings drawn from your AustralianSuper account.
So long as the advice is solely related to your AustralianSuper account – and this covers all our super and retirement income accounts – you can depend on this simple and convenient way to pay for your advice.
Your adviser will help guide you through the available options.
How advice can support the lifestyle you want
The right professional advice could support the lifestyle you want in a whole range of ways:
- Professional expertise – can help you understand all your investment options and complex legislation, and find ways to improve your financial position.
- Personalised – objective and unbiased advice that delivers a long term plan, and is in your best interests and right for your situation.
- Financial coach – answers questions, builds your knowledge, reviews your plans, and increases your financial knowledge and confidence.
- Plan and implement – transforms a financial plan into manageable pieces and then makes sure that all parts are applied.
- Decision support – sometimes it can be really hard to make decisions when your financial future is at stake. A financial adviser can help you make them.
- Compound savings – over time, even a small financial gain made through professional advice can significantly increase your investment.
What you get with face-to-face advice*
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Getting to know you
Your first meeting is complimentary – and all about you. Your personal and financial circumstances and what’s important to you are discussed. Your adviser can then help determine the nature and complexity of advice you need and discuss any costs involved. No personal financial advice is provided in your first meeting. -
Setting a plan
Using information from your first meeting, and with your agreement, your adviser researches solutions available and develops a personalised financial plan called a Statement of Advice (SOA). This outlines the best way forward to meet your personal and financial goals and any costs involved. -
Presenting the plan
Your financial adviser outlines the recommendations in the SOA, and explains how the advice meets with your goals and is in your best interests. They also answer any questions you may have about the advice and the next steps needed. -
Taking action
Advice is only good advice if it’s put into action. Once you’re comfortable with the recommendations, your adviser carries them out and keeps you informed at every step.
*The financial advice you receive will be provided under the Australian Financial Services licence held by a third party and not by AustralianSuper Pty Ltd and therefore is not the responsibility of AustralianSuper Pty Ltd. AustralianSuper has also engaged Industry Fund Services (IFS) ABN 54 007 016 195 ASFL 232514 to facilitate the provision of financial advice to members of AustralianSuper. This advice is provided by one of our financial advisers who are Authorised Representatives of IFS. These advisers are not authorised to provide financial product advice (or any other financial service) on behalf of the Trustee of AustralianSuper. Some personal advice may attract a fee, which would be outlined before any work is completed and is subject to your agreement. With your approval, the fee for advice relating to your AustralianSuper account(s) can be deducted from your AustralianSuper account.
^Online calculators allow you to explore your potential options in more detail. The financial outcomes provided by our online calculators, should be read together with the relevant Product Disclosure Statement. These outcomes are reliant on the accuracy of the information you have entered and before taking action you will need to consider the appropriateness of the financial outcomes, taking into account your objectives, financial situation and needs.
† In some circumstances, your adviser may recommend products outside of AustralianSuper where commission may be payable.
More information
If you still have some questions about your advice options with AustralianSuper, read our Live the life you want brochure, or simply call us on 1300 300 273 weekdays 9.00am – 5.00pm AEST.