Many West Australians have worked in the public service at some stage in their career. Therefore, many people approach us with questions about their GESB Super – especially now that GESB have closed their Financial Planning division.
See www.superreview.com.au/news/financial-advice/gesb-financial-advice-closes-up-shop
The good news is that James and Julianna Baird at JustInvest are GESB Experts, having advised many clients with strategies over a number of years.
When reviewing your GESB Super, the first thing to do is check which division you are in: GESB, West State or Gold State – as each has their own set of rules.
GESB Super
GESB Super is a taxed, market-linked super scheme that offers competitive fees and a limited range of investment options.
West State Super
West State Super is an untaxed accumulation scheme that is structured very differently to most other super funds. As an untaxed scheme, it is very important to know the rule structure (for example contributions and investment earnings are not taxed until benefits are accessed). It has competitive fees, and is market linked with a limited range of investment options
Gold State Super
Gold State Super is a defined benefit super scheme, which means the final Gold State Super benefit is determined by applying a fixed, or ‘defined’, formula. Gold State Super is not market linked, and is not impacted by the performance of investment markets. Again, it is very important to know the rule structure before making any changes to your Gold State Super fund.
Contact James or Julianna on 08 9267 3488 to discuss your advice needs and book in a free initial consultation.
Find out more at the GESB Super website: www.gesb.com.au
Don’t forget! Always check the MoneySmart website before seeking advice: www.moneysmart.gov.au
