Top things to consider when choosing your business default superannuation fund:

• Easy administration;
• Benefits for your employees;
• We are a MySuper compliant fund.

Your choice

When selecting a super fund, usually the choice is yours! But how do you know which one to pick? Depending on your age and personal situation, the answer will vary.

A good thing to do is make a list of what’s important to you now and for your future. Understand your risk appetite, and where and how you want to invest your money. Do your research to find the fund that meets your needs.

Things to think about when choosing a fund

There are a few things to keep in mind when choosing the fund that’s right for you. Find out more about what you should be thinking about below.

• Fees – how much will it cost you to invest your money with each super provider you are considering? What other fees do they charge e.g. switching fee?
• Investment strategy – what type of investor are you? Are you happy for your money to be invested in options where there is opportunity for high growth, but also potential losses? There are some great tools out there to help you understand your risk appetite.
• Investment options – you can choose how much control you have in managing where your super is invested. Depending on your confidence level, you may like an option where the super fund invests your money for you based on your age. Find out more about Virgin Money Super’s investment options.
• Insurance – what are your personal circumstances and do you have enough cover? Understanding the type and level of insurance cover you do and don’t get through your super, and understanding your insurance needs will help you assess the fund that’s right for you.
• Fund performance – how has the fund performed over a longer-term? Super is a long term investment. So it’s important you look at the performance of each fund over a longer time period, across the full portfolio, in particular the investment options you may want to select to see if they will help you achieve your retirement goals.
• For Employers - Be registered by the Australian Prudential Regulation Authority (APRA) to offer a MySuper product. Virgin Money Super is a MySuper authorised fund that can act as a default super account for your employees who do not choose their own super fund when they start a new job.
  
  Virgin Money Super’s MySuper product is the Lifestage Tracker investment option.  This is a life cycle investment strategy with a mix of growth and defensive assets, which are adjusted based on your age as you get older. Generally speaking, MySuper products are superannuation products that have a simple set of product features, irrespective of who provides them. This enables comparison of funds based on a few key differences.