Hi, I am new to Australia about to start working. How can I contribute to more than one super? For example if I wanted 80% of my contribution going to a balanced fund at company X, and 20% going to an international shares fund at company Y, is that possible?
I assume my company will put 100% into one fund at one company? If so do I have to do manual transfers myself? Is this allowed?
Thanks.
An allocation like that could probably done within your super fund, without the need for transfers.
You need to talk to your super fund about their investment options.
An allocation like that could probably done within your super fund, without the need for transfers.
You need to talk to your super fund about their investment options.
Thanks, so I would need to chose 2 funds within same company right? Assuming that one company allowed it.
I could not have contributions going to funds with different companies?
Not a company - a super fund.
Most super funds allow investment options.
Your employer will want you to nominate one super fund.
You need to talk to your super fund about their investment options.
thanks, i did speak to australian super and mine super (i am viewing these as 2 companies). each confirmed that whatever money is sent to the one fund i nominate, i can then move the money to any other fund they have.
moving from one company to the other seems to be more "complicated". can be done, but dealt a transfer takes some time, forms to fill out, fees. so seems better to pick one company and select within their funds.
thanks bruce.
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