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All that glitters isn’t gold. Discover how to dig deeper and protect your superannuation with our tips.
Superannuation frauds, or scams, essentially target superannuation scheme members to part with their hard-earned money. Fraudsters might ask their victims to transfer their super pot into either non-existent or non-genuine schemes set-up to defraud people of their investments. Or, they might offer them cash incentives to gain early access to their superannuation benefits - referring to them as a superannuation loan. But these so-called opportunities often turn out to be a scam and leave the superannuation holder with significant losses and serious tax implications
The coronavirus outbreak has affected all kinds of companies, including those listed on the stock market. As a result, markets have been volatile and are likely to remain so for a while. This can have an impact on super, leading to additional worry for savers. It can also lead to an increase in scams, as unscrupulous people try to take advantage of the situation.
If you're looking to make any changes to your super arrangements, be cautious and do it the safe way. In other words, do your own research first, and seek advice from an impartial source, such as a financial adviser or accountant. It’s wise to wait until you’re armed with all the right information for your specific needs, before making any changes.
Take your time. Thoroughly check out the firm or person that you are dealing with to ensure that they are reputable and ensure that any provider or scheme you are considering is genuine.
Don't be rushed or pressured into action. If you have any concerns relating to your Fidelity superannuation, call us on 1800 044 922. If you have paid any monies directly yourself and are concerned, then contact your bank or building society immediately.