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Frequently Asked Questions
While Super Simpler Pty Ltd as a company is relatively new, between us, our team has a combined experience of over 100 years working within the financial services industry. So you can rest assure that we are highly experienced when in comes to helping you sort out your super setup.
SuperWiser is a new, revolutionary online superannuation advice & service application.
SuperWiser was created so that everyday working Australians could access easy, affordable and worthwhile advice on how best to setup their super in order to have as much income in retirement as possible.
When we talk about super setup the factors that are considered are:
- What super fund your super contributions are being paid into and the associated costs/fees.
- What amount and type of insurance cover you hold within your super account and the associated premium costs.
- What type of investor you are and if your super has been invested in an appropriate portfolio and the associated performance.
- What additional super savings strategy you have in place (additional contributions) and the associated cost/benefit.
- What age you would like to retire at verses what age you’ll financially be able to retire at.
- What sort of lifestyle you would like in retirement (basic or comfortable) verses what sort of lifestyle your super is on track to fund.
The top 5 things to consider when sorting out your super setup are:
- Fees & Charges Associated with Super Product
- Amount, Type & Cost of Insurance Cover Included within Super Product
- Quality of Investment Returns within Super Product (Target Return v Actual Return)
- Appropriateness of Investment Selection within Super Product (Time Horizon, Previous Experience & Tolerance to Risk)
- Impact of Additional Savings into Super Over Working Lifetime (Additional Contributions)
We Compare Super Funds and Super Setups
Unlike other super comparison websites, SuperWiser doesn’t just compare super funds, it also also compares how your super account within your chosen super fund has been setup.
We Project a Dollar Value as a Comparison Measure
SuperWiser has developed a revolutionary approach of calculating a projected dollar value of annual retirement income as a simple, universally understood comparison measure.
No more trying to interpret the meaning of stars, fat cats, speed signs or apples.
We do Most of the Hard Work for You
Instead of you doing all of the leg work involved in comparing and identifying a better super setup, SuperWiser does it all for you.
You supply a few simple details, we crunch the numbers and tell you if there’s a better super setup available for you to consider.
We Provide Online Super Setup Advice & Implementation Service
SuperWiser doesn’t stop there. Once we’ve confirmed your current super details with your super fund we then guide you through our recommendation to better setup your super.
We also liaise directly with your super fund (on your behalf) to get any agreed setup changes implemented.
You can use SuperWiser to:
- Simply project how much annual income your current super setup is on track to provide you in retirement.
- Compare this against a better super setup we’ve identified and see what difference it can make to your annual retirement income.
- Easily weigh up the long term cost/benefit of staying with your current super setup OR changing to a better super setup.
- Get most of the hard work of changing to a better super setup done for you, so you can spend your time doing other (fun) stuff.
- Put some super milestones & goals in place, so you can easily track your super’s performance over time.
- Take control of your super and get it on track to have an improved retirement future.
It’s really easy to get started with SuperWiser.
First up, you’ll be asked some simple questions about you and your current super setup. At this point we don’t need to have to have exact figures, it’s ok to just use approximates so we can give you an indicative projection.
Next step, we’ll ask for your permission to go away and do the hard work of collecting exact figures directly from your current super fund. All you’ll need is your super account number, address and signature.
If you get stuck or have any questions you can use our Live Chat facility (during business hours) or you can send us an email (firstname.lastname@example.org) or you can give us a call.
SuperWiser can guide you through the process of consolidating multiple super funds. We recommend using the free myGov app, which is a government sponsored service. If you haven’t got a myGov account we encourage you to create one at myGov.
Please be aware that myGov does not advise you on which super account you should consolidate your multiple super accounts into or how best to setup your super. SuperWiser does this, so please follow any instructions that we provide, in sequence, so you can get on track for a super financial future!
SuperWiser will supply you with any relevant forms and will even pre-populate them for you. All you’ll need to do is print & sign, then upload them back into SuperWiser and we’ll take care of the rest. It’s so easy, no postage required!
We take care of making sure your forms are sent off the to correct places for processing and keep you updated of progress.
There are 4 main steps within the SuperWiser Advice & Service App:
Step 1 – Compare Current Super Setup
- You tell us a little bit about you & your current super setup.
- We run your details through our market leading, super comparison calculator.
- We project your indicative annual retirement income & identify if a better super setup is available.
Step 2 – Confirm Current Super Setup
- We get your permission to make contact with your current super fund on your behalf.
- We do the work to collect specific information regarding your current super setup directly from your super fund.
- We rerun your indicative annual retirement income projections & confirm if a better super setup available
- We provide you with a dollar value break down of how a better super setup can improve your annual retirement income projection.
- We contrast this against your current super setup projection, so you can easily evaluate any cost/benefits.
- You’re now aware of the difference, super setup factors make on how much annual income you’ll potentially have in retirement.
- We provide you with a personalised Super Setup Advice recommendation to better setup your super.
- You review & consider then when you’re ready confirm you want to proceed with the Super Setup Advice recommendations.
- We guide you, step-by-step, through an online Super Setup Implementation service.
Yes, your employer may have set you up with a super account within their nominated default super plan, however they are not responsible for making sure that it’s setup optimally for your specific circumstances.
We find that the majority of individuals who have their employer set up their super account for them are normally invested in the default option, with a default level of associated insurance cover and haven’t considered the impact of any additional super savings strategy.
By leaving decisions, relating to super setup, up to your employer, you’re potentially missing out on opportunities to create as much super as possible for you to spend in retirement.
The goal in developing SuperWiser was to streamline and automate the Super Setup Advice & Implementation process, making it easy, affordable and worthwhile for every day, working Australians to take an interest in how their super is setup, keep track of how their super setup is performing and make any necessary adjustments to their super setup as and when the market requires it.
Your involvement in changing your super setup does not take very long at all. However the process we will go through behind the scenes, dealing with your super fund on your behalf, to get the changes to your super setup organised and implemented may take up to 3 months to complete.
This may sound like a long time but don’t worry, there’s not much you need to do as we’ll be doing most of the hard work. We’ll also keep you updated on progress at every stage of the journey.
If your particular super fund is not appearing in the drop down list this means SuperWiser is currently unable to conduct an online super setup comparison calculations for you.
Place a request for your particular super fund to be included in future SuperWiser releases by emailing email@example.com
We know how busy most people are, so to make things as easy as possible for you, we will liaise directly with your super fund on your behalf so you can spend your time on other (fun) things.
In order for your super fund to release any information to us they require a signed Authority to Access Information (AAI) form as proof that you’re OK with them supplying us with details about your current super setup.
Until we receive your signed Authority to Access Information form, we’ll be unable to do the work required to clarify your exact super setup details. We need this information so that we can confirm if there is a better super setup available.
NOTE: For security purposes, your super fund will NOT accept a digital signature on the AAI form. You must print the form and sign it with pen (this is classified as a “wet” signature). Your super fund will then cross reference your “wet” signature against the signature they have on record for you
If you’re completely new to SuperWiser, just click on any of the Compare Your Current Super Setup (FREE) buttons within the Super Simpler website to get started.
If you’ve already started using SuperWiser, use the Login button in the top right hand corner of the SuperWiser website
There are 4 main steps involved with SuperWiser.
We charge solely on a fee for service basis (no hidden, ongoing trail commissions) and receive no payments from any other source.
SuperWiser is FREE to use for Steps 1, 2 & 3.
Once you reach Step 4, we’re confident that you’ll be able to determine if there is value in proceeding with Step 4 and if so, an upfront $220 (inc GST) Fee for Advice & Service is paid prior to commencing.
Salary Continuance Insurance (SCI) is also known as Income Protection (IP) Insurance. It’s a really popular type of insurance, as it pays you a monthly income if you can’t work due to illness or injury.
If you can’t work for health reasons, your ongoing expenses aren’t going to change. You’ll still have to pay the rent or mortgage, household expenses, school fees and other regular commitments.
If you’re an employee and you’re disabled for longer than your sick leave entitlement, your salary could cease or be reduced, depending on your employer.
Plus, Workers Compensation only pays out for events connected with your job. And, even if you do have a Workers Compensation claim, it might not be sufficient to cover your living costs.
The Superannuation Product Identification Number (SPIN) is the standard method of identification for super products within the financial services industry.It’s a unique code made up of letters and numbers, which is used by fund administrators and clearing houses to identify and differentiate super products.
SPINs are often used to facilitate member contributions, rollovers and other transactions along with many other functions.
As you work your way through the SuperWiser web app there will be forms and documents for you to download.
If you experience any trouble downloading, the first port of call will be to check the pop-up blocker settings in your web browser as follows:
- Click on 3 dots at top right of address bar
- Select Settings menu option
- Scroll down to bottom of page and click on Advanced down arrow
- From the Privacy & Security section select Content Settings
- Select Pop-ups and Redirects
- Slide toggle from Blocked (recommended) to Allowed
- Select Cog icon from top right of browser window
- Select Internet Options menu item
- Click on Privacy tab
- Un-tick Turn on Pop-up Blocker option
- Click on Apply button
- Select Preferences from Safari menu
- Click on Security tab
- Un-tick Block Pop-up Windows option
SuperWiser is for individuals over the age of 18, who are Australian citizens or residents, who are currently employed and have an active Retail, Industry or Master Trust Superannuation Account.
SuperWiser currently does not support Public Sector Funds, Self-Managed Super Funds (SMSF) or WRAP Accounts.
Refer to our approved product list for a full listing of super funds.
SuperWiser makes it so easy to sort out your super.
Do you know if you’re on track for a comfortable retirement? SuperWiser shows you the difference a better super setup makes to the amount of money you’ll have to spend annually in retirement. A better super setup can help could get you retiring earlier and living a comfortable lifestyle in retirement versus having to extend your working years!
Why Use SuperWiser?
SuperWiser makes it super simple to understand what’s required to improve your super setup.
Project Your Super Future
How much money are you on track to have in retirement?
You tell us a few details about your current super setup and we project how much annual retirement income this is likely to provide for you.
Identify A Better Super Setup
How good is your current super setup? Could it be better?
We compare this against a range of super setups from our approved list and identify if there’s a better super setup for you to consider.
Set Super Goals & Milestones
Do you know how to tell if your super’s on track and performing?
We help you make any super setup changes and provide you with defined super goals and milestones, so you can easily keep track of performance.
The best part is, SuperWiser does most of the hard work for you.
How does SuperWiser work?
Minimal work for you, maximum opportunity to improve your super’s financial future.
There’s no simpler way to sort out your super setup than using SuperWiser.