Superannuation Example 1: Compare fees & features

At xLife we compare the fees and features from a large number of the major superannuation funds. For most investors it is often very difficult to compare these, as fees are charged for a variety of purposes and can be labelled very differently.

Extra features and services can mean higher fees. Consider how much you need these services, because every dollar you pay in fees reduces your final benefit. If you pay an extra 1% each year in fees, you could lose up to 20% from your retirement benefit over 30 years.

Example: With an opening balance of $50,000 and a salary of $55,575, and fees of 1% each year, your super accumulation is $359,000 in 30 years, compared with $298,000 if fees are 2% each year.