Superannuation exit payment?
I have be in a super fund since 1991. I am 50 years elderly, self-employed part-time and own only contributed around $14,000. My plan is in reality worth only $500 more than when I started it!! This is through AMP. Financial planners and the govt are other telling us to put our money into super but I fall short to see why. I have earn much higher interest over the years from have a small term deposit. On enquiring in the order of the exit fees I have be told it will be approximately $1,500!! I feel sick nearly this. Can anyone advise me what to do as I can't afford to walk to a financial planner. It is only a small amount of super but it be taken out of my own pocket and is now WORTH NOTHING!!
Answers: Ask if they can distribute you something in writing outlining the fees. $1,500 is rediculous. Otherwise, I presume your allowed access after 55 and no longer working full time. There shouldnt be any fee's then.
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Answers: Ask if they can distribute you something in writing outlining the fees. $1,500 is rediculous. Otherwise, I presume your allowed access after 55 and no longer working full time. There shouldnt be any fee's then.