Superannuation and financial planning

The question of how impartial a financial planner can be if they are paid commission by the product provider has long been a bone of contention. That’s why Money for one has championed fee-for-service planners. It appears the Financial Planning Association (FPA) has come to that way of thinking as well, announcing it is recommending that by 2012 fee-based remuneration will be the standard.

With super returns plummeting the last thing many people want is to put in even more money. But Aussies earning less than $60,342 should definitely consider making their own personal contributions to benefit from the government’s co-contribution.

Many Australians are letting their retirement nest eggs dwindle because they are paying unnecessary fees on $13 billion of `lost' superannuation accounts.

Investors need to take care using gearing – and look more closely at how and where their superannuation is invested.

If you planned on retiring soon but dismal super returns mean you have to work longer, it’s not all bad news. If you keep working past retirement age there might be a bonus for you in the form of the Pension Bonus Scheme (PBS).

The Nine Network's Joanna Townsend speaks to one of Australia's best authorities on superannuation, Shane Oliver from AMP, who tells us all about what today's stockmarket fall has done to our super.