26 Sep Retail super contributions better off in the bank, says report
Research out today from the Industry Super Network shows that some Retail investors would have been better off putting their super in the bank rather than a super fund.
The figures show that over the space of 14 years from 1996 to 2010 all other sector super funds performed at around 5%, cash performed to around 4.23% while Retail super funds came significantly lower at around 3.66%. There can be many reasons for why this would occur but the networks David Whiteley put it quiet delicately that certain “costs” involved with most of the Retail super funds contributed to this poor performance.
So RetailCare’s top tip after reviewing this data? Check your super fund if you’re in retail industry, evaluate the costs and speak to your financial advisor about a possible switch if you are being charged too much for a managed fund.
You can hear the interview with the Super Networks Chief Executive David Whiteley with the ABC’s Business Editor Peter Ryan here :