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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Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
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'.