Plan For Your Future When You Retire With Superannuation Service Being able to save for retirement is an important part of the financial planning. Superannuation or as commonly know as retirement fund, is something that we should plan for, if we are to have a secured future during the golden days of out lives. Most countries in the world mandates that every employee should dedicate a percentage of their wages to their retirement fund or superannuation once they started earning at work. Though the Superannuation funds are not accessible until you reach the age of sixty five, the management of these funds are according to your needs and wants. Superannuation services varies and you can essentially choose one you are comfortable with. You will be able to decide which of the Superannuation services you find beneficial. The services listed below are just a few of the Superannuation services you can have.
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1. Industry funds – these are the funds that are being run by either an employer association or unions. These type of funds are tailor made for the benefits of all the association’s members. These are the types of funds that does not have any kind of shareholders unlike wholesale and retail funds.
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2. Wholesale Master Trusts – the Wholesale Master Trusts or a retail fund is something that is managed for the benefit of a number of employees, and firms as well as other financial institutions are responsible in managing it. 3. Retail Master Trusts – Retail Master Trusts are only dedicated to a certain individual and is managed by a financial firm or institution. 4. Employer Stand-Alone Funds – Employer Stand-Alone Funds is something that is managed by the employers for the benefit of all their employees. Each of these Employer Stand-Alone Funds are individually structured and could or could not be sharable between employees. 5. Public Sector Employees Funds – Since Public Sector Employees Funds are designed by the government, only government employees have access to them. 6. Self Managed Super Funds – Self Managed Super Funds also known as SMSF’s are funds that are created by a group of people, preferably five or less. The Self Managed Super Funds are following strict rules and they are being supervised by the taxation office of the country. Each Self Managed Super Funds members are members of the fund and known as a trustee. Meanwhile, Self Managed Super Funds are different from the traditional superfunds and you will be able to choose which investment suits your circumstances and lifestyle best. The only downside to this one is that you will have to adhere to every compliance regulations imposed by the government. 7. Small APRA Funds – Small APRA Funds also known as SAF’s are created by a small group of individual as well. Although, unlike the SMSF, the Small APRA Funds has trustees that are not members of the funds.

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