Switching from a poor performing fund into a better one shouldn’t cost you much, but it’s important to think carefully about why.
I am currently receiving fortnightly payments from my superannuation pension fund and looking to switch to a different provider that’s performing much better.
Switching from a poor performing fund into a better one shouldn’t cost you much, but it’s important to think carefully about why you want to do it.Switching provider will incur some costs, as there is a difference between the buy and sell price of investments. Some funds might also charge a small admin fee to roll over your fund. In addition, you miss out on a few days of earnings as the transfer occurs.
I understand that from July 1, the $330,000 non-concessional amount that can be put into super will rise to $360,000. Yes, the non-concessional contribution limit will rise to $120,000 from next financial year. Using the bring forward provisions you can make three years’ worth of contributions in a single year, but are then precluded from making any further contributions for the next two financial years.
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