Good morning all!
I'm new to Australia and have noted that there is compulsory superannuation. Subsequently I am trying to figure out which fund/ type of fund will be appropriate to invest it into, and have a few further queries as well:
- of the different funds types (retail, industry etc) it appears that industry will be the most appropriate (too small for SMSF, after the lowest fees thus out goes retail, not a government employee there goes public, employer fund - appears like investing proceeds from employment with an employer = higher risk, wrap platforms loss too much control) as it will offer low fees, an average return etc.
I'm not worried about a return as this will act as the 'floor' of an overall portfolio.
(at a later date when there is more in it I will be more interested in switching to a SMSF)
(1) From googling/ reading other material, it sounds like CareSuper is an option - I am looking for an industry fund appropriate for a professional? Can anyone suggest alternatives that are worth considering?
(2) how long do I have to make this decision?
(3) are co-contributions available to permanent resident NZers? ATO comments on temporary visas - I am here permanently? (so right now I think this is a yes?)
(4) should I be considering APRA funds? how to they work?
NB I am not looking for advice, or 'the answer' and I have attempted to answer these questions myself already. Not afraid to read up more/ deal with jargon etc as I have worked in superannuation in NZ before thus should be relatively easy to figure out.