Best superannuation option for WHV

I have a friend visiting from across the ditch who recently started some labor work. His employer is asking about the best place to allocate his superannuation. He plans to stay for another six months, possibly longer if he chooses to extend his stay. Does anyone have recommendations for a short-term super fund? Thanks in advance!

One thought on “Best super for WHV”

  1. When it comes to choosing a superannuation fund for someone on a Working Holiday Visa (WHV), it’s important to consider options that are flexible and suitable for short-term use. Here are a few recommendations:

    1. Industry Super Funds: These often have low fees and good performance. Look into funds like Hostplus, HESTA, or CBUS. They tend to be well-regarded and have options for short-term investment.

    2. High-Interest Savings Accounts: While technically not a super fund, some people choose to park their super in an account that earns interest. This might work if he’s planning to withdraw his super soon after leaving Australia.

    3. Low Fee Funds: Funds like ING or Sunsuper offer low fees and good accessibility. This can be beneficial if he plans to transfer or withdraw his super when leaving.

    4. Online Comparison Tools: Websites like Canstar or Finder allow comparisons of funds based on fees, performance, and other criteria – which can help your mate find one that suits his needs.

    5. Consider Future Withdrawals: If your mate returns home or travels elsewhere, it’s worth checking the rules on accessing superannuation early, particularly for WHV holders.

    Always encourage him to read the fine print and perhaps consult with a financial advisor if he’s unsure. Good luck to your mate!

Leave a Reply

Your email address will not be published. Required fields are marked *


Explore More

Does anyone know why Alabrandi, from the classic Aussie novel “Looking for Alabrandi” in the movie version works at Oporto whereas she is described as working at McDonald’s in the book?

Does anyone have insight on why Alabrandi, from the classic Australian novel “Looking for Alabrandi,” works at Oporto in the movie adaptation instead of McDonald’s, as mentioned in the book?

Larrikin or bully?

Warning Sign Ahead

Larrikin or Bully? Hey everyone! I’ve been living in this wonderful country for over a decade now, but I still find it challenging to navigate the Aussie humor where banter

Night-Life in Sydney

Sydney Nightlife Recommendations Hey everyone, I’m an American eagerly anticipating my trip to Australia this November! I’m looking for recommendations on the best clubs to check out in Sydney. Any