# Putting your Super into a low risk option



## matty77 (12 March 2020)

So I have Super with AMP, current investment is what ever the default one was, to be honest never taken much notice as I still have a long working life ahead of me and prefer to put my extra cash into other investments but the market dropping at the moment got me thinking maybe its time to move my super into a lower risk option for at least the next 6-12 months. 

So my question is are other people doing this, are you protecting your Super or just going with the flow on whatever investment option its currently in? 

On a side note, I have found it extremely difficult to navigate information on the AMP website to find which fund option would suit my current requirements, makes you wonder sometimes how these companies do any business...


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## PZ99 (12 March 2020)

My super was 100% cash until today. Now it's 30% OZ shares / 70% cash.

Eventually it'll be 100% shares if the dip can be picked


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## basilio (12 March 2020)

matty77 said:


> So I have Super with AMP, current investment is what ever the default one was, to be honest never taken much notice as I still have a long working life ahead of me and prefer to put my extra cash into other investments but the market dropping at the moment got me thinking maybe its time to move my super into a lower risk option for at least the next 6-12 months.
> 
> So my question is are other people doing this, are you protecting your Super or just going with the flow on whatever investment option its currently in?
> 
> On a side note, I have found it extremely difficult to navigate information on the AMP website to find which fund option would suit my current requirements, makes you wonder sometimes how these companies do any business...




Wow!! Just wondering why you have your super in AMP? From what I know they do not have good returns and have some the higher admin costs in the business. 
The difficulty of understanding your options from their site might also ring some warning bells.

This easy to use website might be of value in comparing your current super plan vs others in the game.
https://www.industrysuper.com/compare/compare-funds/


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## matty77 (12 March 2020)

Changed jobs not too long ago and this is what they recommended so I swapped as it was easier at the time, like previously stated I do not consider my Super as any sort of retirement fund I invest outside of that. Either way you are probably correct and I should look at alternatives when I get the time.


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## qldfrog (12 March 2020)

PZ99 said:


> My super was 100% cash until today. Now it's 30% OZ shares / 70% cash.
> 
> Eventually it'll be 100% shares if the dip can be picked



I moved 100pc capital garantee in January, i should not forget indeed to slowly move back
 great hint


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## tinhat (12 March 2020)

qldfrog said:


> I moved 100pc capital garantee in January, i should not forget indeed to slowly move back
> great hint



I watched a gecko today.


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## basilio (13 March 2020)

matty77 said:


> Changed jobs not too long ago and this is what they recommended so I swapped as it was easier at the time, like previously stated I do not consider my Super as any sort of retirement fund I invest outside of that. Either way you are probably correct and I should look at alternatives when I get the time.




Indeed it was.  But that was not for your benefit Matty.
Long story short I seriously suggest you reevaluate your super fund quickly. It is getting  10% of your salary at the moment and my guess is it is costing you a fair swag in terms of admin fees and they havn't been good investors.

AMP is  a retail for profit fund. The costs are higher. They exist to make a profit for the sales team and  big company owners. The customers come a distant second.
Industry funds offer much more profitable alternative for the customers.
Cheers


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## qldfrog (13 March 2020)

basilio said:


> Indeed it was.  But that was not for your benefit Matty.
> Long story short I seriously suggest you reevaluate your super fund quickly. It is getting  10% of your salary at the moment and my guess is it is costing you a fair swag in terms of admin fees and they havn't been good investors.
> 
> AMP is  a retail for profit fund. The costs are higher. They exist to make a profit for the sales team and  big company owners. The customers come a distant second.
> ...



If i may, about:
Industry funds:
They exist to make a profit for the sales team and  retired union leaders....

I would recommend funds like sunsuper etc which do not openly behave as gravy train for any retired politician or union ringleader


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## basilio (13 March 2020)

qldfrog said:


> If i may, about:
> Industry funds:
> They exist to make a profit for the sales team and  retired union leaders....
> 
> I would recommend funds like sunsuper etc which do not openly behave as gravy train for any retired politician or union ringleader




Sunsuper may indeed be a good option.
I strongly disagree with your disparagement  of Industry funds. On a purely factual level level the  costs retained by Retail for profit super funds have been much higher than comparable Industry funds. There is also plenty of evidence that industry funds obtain a higher return with smarter investment decisions.

Anyway AMP has had one of the poorer outcomes in terms of costs and returns. The way they gouged customers was exposed in the Roytal commission into banking in 2018

https://www.visionsuper.com.au/abou...industry-vs-retail-how-to-choose-a-super-fund
https://www.canstar.com.au/superannuation/industry-vs-retail/

https://www.abc.net.au/news/2018-08-16/amp-to-pay-back-customers27-fees/10129660
https://www.choice.com.au/shonky-awards/hall-of-shame/shonkys-2019/amp-superannuation


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## qldfrog (13 March 2020)

basilio said:


> Sunsuper may indeed be a good option.
> I strongly disagree with your disparagement  of Industry funds. On a purely factual level level the  costs retained by Retail for profit super funds have been much higher than comparable Industry funds. There is also plenty of evidence that industry funds obtain a higher return with smarter investment decisions.
> 
> Anyway AMP has had one of the poorer outcomes in terms of costs and returns. The way they gouged customers was exposed in the Roytal commission into banking in 2018
> ...



Industry funds are just lesser evils imho than AMP and Cie, but unless you are happy funding various union, i would not touch them.
I prefer good to less worse...


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## qldfrog (13 March 2020)

Back to the subject..yes get out of AMP ASAP, but maybe a bit late to switch funds into conservative cash option.
Supers often have a full day delay with order execution, you risk getting out of shares at the worst time.mid next week or so...maybe a gradual split?mote than all out?


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## IFocus (13 March 2020)

Matty get the fu** out of AMP, fees are through the roof plus poor returns and yes Industry funds are the go because of low fees and higher returns just note they are not all the same so have a good look around remember fees and returns.

One thing many people miss also is the rotten super funds also put you into funds that also charge high fees the fees are only found in the prospectus.


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## againsthegrain (13 March 2020)

I can't even log into colonial first the site goes blank...  from memory im about 60% aggressive on the portfolio good time to increase it to 100% 

still got 30-40 years to retire depending what age they make it then


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## matty77 (13 March 2020)

Good advice all, I've got annual leave in a few weeks so will do some research then. 

I have now switched to 90% cash, 10% mixed. Will re-evaluate again in few weeks also.


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