Starting new work

Astinadroxycuts · 19-11-2009, 01:24 PM

Soon il be working full time at Uni

Employee asked me for my super.. witch i dont have i dont know what to do?

should i just ask if i can join theirs? Or tell them i didnt set one up? ect ect

mill_mobile · 19-11-2009, 01:28 PM

You can go to any open public super fund and start an account with them [I used to work for a Super company]...
Down here, if you work for the Govt (I work for Education Dept) you can be a member of our Public Service one... If you can have this option I'd just go with that.

Astinadroxycuts · 19-11-2009, 01:33 PM

I am working for Chubb hmmm

mill_mobile · 19-11-2009, 01:40 PM

Ok, well just have a look in the yellow pages under super funds and ring around a few - get admin charges, investment options etc and go from there

There are low risk options and higher risk options...
Maybe have a natter to your parents too.

marcs_sp20 · 19-11-2009, 01:49 PM

SunSuper is the main one people often go with, but most employers set you up who they are through...

mill_mobile · 19-11-2009, 01:52 PM

Quote:

Originally Posted by marcs_sp20

SunSuper is the main one people often go with, but most employers set you up who they are through...

Down here, employers used to be able to limit the super funds the employee could contribute to... To the extent of telling them a single one...
A few years back a 'choice of fund' thing was passed, and now anyone can go with any company.
Not saying that's the same over there, coz it's most likely not... Just saying what it's like down here.

mussing · 19-11-2009, 02:24 PM

That legislation was federal, not state. Regardless of where you are in Australia you have the ability to choose your own super fund.

If you do find your own, make sure you go with an industry super fund, ie. a fund that doesn't pay commissions to financial advisors.

Astinadroxycuts · 19-11-2009, 05:57 PM

Superannuation compulsary?

mussing · 19-11-2009, 06:02 PM

Certainly is. Although of course there are a few exceptions to the rule, can't remember what they are though. It's highly likely that none apply.

mill_mobile · 19-11-2009, 06:12 PM

Quote:

Originally Posted by Astinadroxycuts

Superannuation compulsary?

Yes it is, it's law.
Unless your employer is willing to be dodgy and stooge you, at the risk of the company being drilled.
Not paying super when an employee is entitled to it is a serious offence.
You will find it won't take long to build up, and for little effort to get it going it is worth it.

Cosmo Dude · 19-11-2009, 06:47 PM

For now just ask if they have a prefered super they can sign you up to and start work.
You can spend the next six months or years finding a fund and switch. If/when you switch make it a condition that the new fund transfers your money from your old fund.
I've got super all over the place and I need to consolidate but the paperwork is just too daunting

bourbon · 19-11-2009, 06:56 PM

wont take long...hahaha...it takes for ever...ive been working 5 years and its only built upto $5,000-$8,000...but at the end of the day when im 60 or 65 it would be at about $250,000, i pay things off quicker than that...

Astinadroxycuts · 19-11-2009, 06:58 PM

So if they set one up for me will it be legal for me to work for them?

How long dose it take for a super to setup?

mill_mobile · 19-11-2009, 07:00 PM

Quote:

Originally Posted by Astinadroxycuts

So if they set one up for me will it be legal for me to work for them?

How long dose it take for a super to setup?

Yup, will be legal.
Not long at all... You just gotta fill out some basic paper work with some details about the employer, your TFN and a few other things, then it takes as long as the fund takes to process the membership application.

Cosmo Dude · 19-11-2009, 07:05 PM

Realisicly they only pay in every few months and as long as it's a legit fund (I wouldn't expect Chubb not to suggest anything but a legit fund) it's cool.

Astinadroxycuts · 19-11-2009, 07:33 PM

Thank you very much mill_mobile Cosmo Dude bourbon mussing marcs_sp20

You guys have been very helpful

mill_mobile · 19-11-2009, 08:17 PM

Quote:

Originally Posted by Astinadroxycuts

Thank you very much mill_mobile Cosmo Dude bourbon mussing marcs_sp20

You guys have been very helpful

No worries at all...
The people here have been helpful to me in the past, especially now, so I'm just returning the favour.
This place is bloody awesome, the people here, even though I haven't met any of them, are caring people.
I'm gunna frequent this place more often - as much as I did when I had the Astina.
Thanks guys/girls, you rock.

Noddinoff · 22-11-2009, 09:11 PM

Go for any Industry based fund.....you know...the one's advertised on TV that have low fees. The well known brands like your AMP's etc pay trailing commissions and are a bloody rip off. Look for funds like LUCRF or Hostplus etc.

RustyKaos · 22-11-2009, 09:12 PM

How is REST? That is who I am with.

mussing · 22-11-2009, 10:49 PM

Quote:

Originally Posted by Noddinoff

Look for funds like LUCRF or Hostplus etc.

From my personal experience, hostplus are **** (ridiculous yearly fees ate up my super in no time) and LUCRF are very good.

19-11-2009, 01:24 PM	#1
Astinadroxycuts Junior Member Join Date: Aug 2009 Location: Australia Car: 93 323 Astina - Toyota Celica GT4 Posts: 211	Starting new work Soon il be working full time at Uni Employee asked me for my super.. witch i dont have i dont know what to do? should i just ask if i can join theirs? Or tell them i didnt set one up? ect ect

19-11-2009, 01:28 PM	#2
mill_mobile Senior Member Join Date: Aug 2006 Location: Hobart, Tasmania Car: 98 BJ Posts: 674 View Photos By: mill_mobile	You can go to any open public super fund and start an account with them [I used to work for a Super company]... Down here, if you work for the Govt (I work for Education Dept) you can be a member of our Public Service one... If you can have this option I'd just go with that. __________________

19-11-2009, 01:40 PM	#4
mill_mobile Senior Member Join Date: Aug 2006 Location: Hobart, Tasmania Car: 98 BJ Posts: 674 View Photos By: mill_mobile	Ok, well just have a look in the yellow pages under super funds and ring around a few - get admin charges, investment options etc and go from there There are low risk options and higher risk options... Maybe have a natter to your parents too. __________________

19-11-2009, 01:49 PM	#5
marcs_sp20 Moderator Join Date: Oct 2005 Location: Ipswich, Queensland Car: 2002 Mazda Astina SP20 2006 Mazda 6 GY Wagon Posts: 9,769 View Photos By: marcs_sp20	SunSuper is the main one people often go with, but most employers set you up who they are through... __________________

19-11-2009, 06:47 PM	#11
Cosmo Dude コスモ Join Date: Dec 2002 Location: Location: Vic Car: Mazda '95 Astina I4, '86 B2K and '10 3 MZR-CD Posts: 7,888 View Photos By: Cosmo Dude	For now just ask if they have a prefered super they can sign you up to and start work. You can spend the next six months or years finding a fund and switch. If/when you switch make it a condition that the new fund transfers your money from your old fund. I've got super all over the place and I need to consolidate but the paperwork is just too daunting __________________ My 'stina Hatch

19-11-2009, 01:33 PM	#3
Astinadroxycuts Junior Member Join Date: Aug 2009 Location: Australia Car: 93 323 Astina - Toyota Celica GT4 Posts: 211	I am working for Chubb hmmm

19-11-2009, 02:24 PM	#7
mussing Senior Member Join Date: Jul 2007 Location: Sydney Car: 1990 323 Astina BG SP Posts: 1,071 View Photos By: mussing	That legislation was federal, not state. Regardless of where you are in Australia you have the ability to choose your own super fund. If you do find your own, make sure you go with an industry super fund, ie. a fund that doesn't pay commissions to financial advisors.

19-11-2009, 05:57 PM	#8
Astinadroxycuts Junior Member Join Date: Aug 2009 Location: Australia Car: 93 323 Astina - Toyota Celica GT4 Posts: 211	Superannuation compulsary?

19-11-2009, 06:02 PM	#9
mussing Senior Member Join Date: Jul 2007 Location: Sydney Car: 1990 323 Astina BG SP Posts: 1,071 View Photos By: mussing	Certainly is. Although of course there are a few exceptions to the rule, can't remember what they are though. It's highly likely that none apply.

19-11-2009, 06:56 PM	#12
bourbon The Hairy Mod Join Date: Sep 2005 Location: southside ya'll and North Side, Brissy Car: MINI Cooper S 2003 Posts: 8,110	wont take long...hahaha...it takes for ever...ive been working 5 years and its only built upto $5,000-$8,000...but at the end of the day when im 60 or 65 it would be at about $250,000, i pay things off quicker than that... __________________ For All your crash repair panels & lights, clear lights contact us at PANEL HOUSE 45 RANDALL ST SLACKS CREEK QLD 4127 PHONE : 07 3808 8737 FAX : 07 3808 8735

19-11-2009, 06:58 PM	#13
Astinadroxycuts Junior Member Join Date: Aug 2009 Location: Australia Car: 93 323 Astina - Toyota Celica GT4 Posts: 211	So if they set one up for me will it be legal for me to work for them? How long dose it take for a super to setup?

19-11-2009, 07:05 PM	#15
Cosmo Dude コスモ Join Date: Dec 2002 Location: Location: Vic Car: Mazda '95 Astina I4, '86 B2K and '10 3 MZR-CD Posts: 7,888 View Photos By: Cosmo Dude	Realisicly they only pay in every few months and as long as it's a legit fund (I wouldn't expect Chubb not to suggest anything but a legit fund) it's cool. __________________ My 'stina Hatch

19-11-2009, 07:33 PM	#16
Astinadroxycuts Junior Member Join Date: Aug 2009 Location: Australia Car: 93 323 Astina - Toyota Celica GT4 Posts: 211	Thank you very much mill_mobile Cosmo Dude bourbon mussing marcs_sp20 You guys have been very helpful

22-11-2009, 09:11 PM	#18
Noddinoff Junior Member Join Date: Jul 2009 Location: Albury Car: AE86 Supercharged, Astina BA11F3, Honda Accord Posts: 51	Go for any Industry based fund.....you know...the one's advertised on TV that have low fees. The well known brands like your AMP's etc pay trailing commissions and are a bloody rip off. Look for funds like LUCRF or Hostplus etc. __________________ Sometimes faeces makes contact with the rotating oscillator.

22-11-2009, 09:12 PM	#19
RustyKaos Senior Member Join Date: Dec 2006 Location: North Side Brisbane Car: 1998 BA 323 Astina Hardtop Posts: 1,414 View Photos By: RustyKaos	How is REST? That is who I am with. __________________ Everytime an idiot dies, 20 more are born. Come challenge me. I dare ya.