MySuper is bringing fees down: Rice WarnerBY JAMES FERNYHOUGH | THURSDAY, 29 MAY 2014 1:00PMMySuper is doing its job in bringing down superannuation fees despite recent reports to the contrary, according to Rice Warner head of superannuation market insights Nathan Bonarius. Related News |
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Nathan Bonarius is the second person in the last two days to make a generalized statement of nonsense!
He has just looked at the fee structure, without looking at the overall position for a member in a My Super account. Some of the members now have a further impost of carrying an insurance premium. This means that should the member decide to transfer out at a future date, they will find the balance has been eroded severely by the premium that they never wanted in most instances.
Why a member needs insurance on a small balance is beyond me. It is just another gouge in the form of something that is supposedly 'necessary'.