Commissions and Superannuation

The ABC's 730 Report broadcast a story on 14.07.08 focussing on superannuation fees and commissions.

"A new report says super funds paid advisors almost $2.4 billion in commissions last year"

"The first thing to understand is that of that $2.4 billion paid in commissions, $860 million was paid on compulsory super contributions"

The report stated the average commission is 50 basis points or 0.5% of your funds total value each year .

For the full story follow the link http://www.abc.net.au/7.30/content/2008/s2303494.htm