'...a key for me is the lowest fees possible'.

With the way Super Funds are, lowest fees possible represents just as much risk as the portfolio itself. With my QSuper looking at a class action lawsuit due to its fees, it begs one to wonder whether Super is anything other than a glorified bank account.

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After lots of consultations and seeking advice I put my life savings with Aware Super early this year. As you don't get regular updates with most super funds I randomly rang them to see how my account was performing. I nearly vomited when I found out my account had dropped $10,000 in the first ten weeks.!! Over the next 2 frantic weeks I rang every advocacy group and financial support network that was available to try to find if I had any recourse. Unfortunately the answer was the same everywhere - super funds can't be held liable for reckless or unprofessional behaviour. I did my 10k cold ! At my age I can't afford such a gamble so I'm out of super and back to the bank where at least you can get some security.

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