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3 changes to your superannuation you need to know about


#1

New ‘Protecting Your Super’ package laws are now in effect. The changes include:

  • Super funds will only be allowed to charge a maximum of 3% of administration and investment fees for accounts under $6000.
  • Super funds will be banned from charging you an ‘exit fee’ if you transfer your account (or part of your account) to another fund.
  • ‘Inactive’ accounts under $6000 will be closed down and the money transferred to the Australian Taxation Office (ATO).

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