Wondering about what the MySuper performance results mean?

You may have seen news this week about the results from the Australian Prudential Regulation Authority’s (APRA) inaugural MySuper Product Performance Test.

MySuper is an Australian Government initiative to ensure that every Australian worker has at least a basic form of superannuation. Employees who have not selected a super fund are assigned a default MySuper product.

MySuper provides simple and cost-effective default superannuation products. These default products were designed as basic funds without unnecessary features and fees.

The ATO’s YourSuper comparison tool helps you compare MySuper products which allows you to make basic comparisons of 80 default products.

These are generic products which should not be confused with structured, tailored personal financial plans.

At 24kWealth we create a bespoke, thought-out financial management plan for each client, aiming to empower you to walk down their chosen path with financial ease. We also offer a complimentary, obligation free initial consultation.