Superannuation
Types of Superannuation Funds
There are many different funds available to you in the Australian market place.
In summary the main types of super funds are:
- Industry Super Funds
- Public Offer/Retail Super Funds
- Corporate Super Funds
- Self-managed Super Funds
We will shortly look at each one of these. Funds may be in either accumulation or pension (drawdown) phase. For funds that are in accumulation phase, member’s benefits are calculated via either defined benefits or contributions.
All superannuation funds are required to produce a ‘product disclosure statement’, which details the main features of the fund including fees, investment options, insurance options and fund procedures. The product disclosure statement can be used when comparing funds.
To assist you as we go through this module see if you can locate the product disclosure statement of your fund or your most recent super fund statement (provided to you at least annually by your fund).
