Getting help with super
It’s good to have questions about super because the more you find out, the more you can do with it. Whether your question is general or about your own super situation, we’re here to help.
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Who can help me with super questions?
Got a question about your super that hasn’t been answered here? Send us an email, at clientfirst@ioof.com.au or phone us on 1800 913 118 weekdays between 8am and 6pm (AEST).
Check your super account for answers
A lot of the information you’re looking for is available online. Accessing your super account online can help you find out your balance, see contributions you’ve made, search for any lost super, see how your super is invested and get all your super together in one fund. You can login at https://login.portfolioonline.com.au/ioof.
What to expect when you get in touch with us
When you come to us with a question, we can give you facts about your super fund, we can also tell you about what else we can offer you. This can help you understand more about:
- Investment options available to you
- How you can make extra super contributions into your fund
- Insurance options available
- Transition to retirement solutions we offer
- Making a withdrawal from your super fund
- Taking your super with you to a new job and making sure your employer is making payments to the right account
What about advice on my super options?
What we can’t give you over the phone or via email is any advice or recommendations taking into account your personal situation, about what to do with your super.
If this is something you’re looking for, we suggest seeking help from a qualified financial adviser. You can look for a financial adviser on the moneysmart.gov.au website or through an industry association such as the Association of Financial Advisers (AFA) or the Financial Planning Association (FPA).
When is it important to get help with your super?
It’s important to get help with your super if you’re getting stuck on:
- Accessing your account online to keep track of your super.
- Bringing all your super together into one account or finding lost super
- Nominating a beneficiary for your super - who you want to have your super balance and any insurance benefits paid to if you pass away
- Finding out about insurance options you can access through your super
- Understanding and choosing investments for your super
- Making extra contributions to your super
When do people normally seek financial advice?
Getting help with super is just one reason why people choose to see a financial adviser. Financial advice can also help you when you’re going through important life event:
- Starting work and comparing superannuation funds
- Buying a house, or paying off a mortgage
- Getting married
- Growing your family and saving for education costs
- Taking a break from work or receiving a redundancy payment
- Starting a new business
- Separating from a partner
- Inheriting money or receiving a lump sum payment
- Investing to grow wealth
- Planning for a comfortable retirement
- Planning to leave children or grand-children money
Scaled and comprehensive advice
A financial adviser can help you with a specific issue or question you have. This type of advice is often called scaled or limited advice.
When you want further advice or an adviser to look at your whole financial situation, they can offer you what is usually called comprehensive, holistic or even full financial advice. This service would include a detailed strategy and will often involve ongoing advice, as and when, things change in your life.
How much will getting help with my super cost me?
- Getting help with factual information about your super with us does not incur additional cost.
- Getting scaled or limited advice for your super from a financial adviser, based on your own situation and needs, will often be free for the first meeting. Fees and charges normally apply after that but any adviser you see will clearly outline these costs and ask you to agree to these before going ahead with this service.
- Comprehensive, holistic, or full financial advice that covers all areas of your finances on an ongoing basis, can often start with a free consultation. During your first meeting an adviser will agree any costs with you in writing. How much this is will depend on the scope and complexity of the advice you need.
What type of super advice is right for me?
To give you an idea of what sort of help you might need from super experts, we’ve put together a table to compare different types of advice:
| Limited advice | Comprehensive advice | |
|---|---|---|
| Answering general questions on super, retirement and investments | Y | Y |
| Learning how different pension products work (e.g. how do I move my money from super to a pension?) | Y | Y |
| Help with setting up a pension | Y | Y |
| Personalised advice |
Y This is limited to a specific part of your retirement planning (e.g. making extra payment or choosing super investments). |
Y On your whole financial situation. |
| Documented retirement plan |
Y Covers specific areas of retirement planning as discussed. |
Y Recommendations on the best super and pension products for you |
| Recommendations on the best super and pension products for you | N | Y |
| An annual review of your plan taking into account changing circumstances and making sure you stay on track. | N | Y |
| Time involved | Generally under 2 hours | Generally at least two face-to-face appointments and/or ongoing advice as needed |
