My super is sad. How I plan to salvage it this year

I have never been one to walk past a bargain. So putting a little extra into my fund now could have a double-whammy multiplier effect on my retirement balance. | OPINION by Nicole Pedersen-McKinnon

My superannuation balance is sad. Sure, there has been an enough-to-give-you-whiplash sharemarket plunge recently, but that’s not why.

In fact, apart from a 0.6 per cent dip following the pandemic panic in 2019-20, Chant West says there has not been a significant downturn since the Global Financial Crisis in 2008, when many super fund balances fell by more than 20 per cent. And let’s not forget that in 2020-21, during the coronavirus economic recovery, the median “growth” fund balance soared about 18 per cent.Just $1 invested when compulsory super began 30 years ago is now worth $7.

There are also more conservative options, particularly for super members who are nearing retirement and cannot afford to risk their sizeable cash pile. These include “capital stable” funds, which have 20 to 40 per cent invested in equities.

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