Next year I will start a new job and my employer will give me Vicsuper unless I opt for another eligible super fund.
I am extremely unhappy with the fees these managed funds charge as well as the way they shift fees from one place to another to make it hard for you to compare one fund to another. For example, Vicsuper has low MER of 0.5% but if you select the equity growth (high growth) option according to their PDS you incur indirect MER of 0.49% on top of that, so effectively you have an MER of 0.99% which is pretty high. On the plus side, Vicsuper has fees capped at $1500 per year.
Many of those misleading industry super fund ads claim to have "low fees" but their MERs are about 0.8%
One promising fund is Sunsuper, which has an option whereby you can invest in an ASX200 index fund from SSgA with MER of only 0.15% (lowest MER I've found so far) but the problem is Sunsuper charges $1 per week members fee and 0.05% admin fee.
In my opinion, there should be some APRA regulation on how super funds present their fees.
So which eligible super fund do you use? What do you recommend?
I have been thinking about SMSFs but I have heard some scare stories about their being too complicated and costly.