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Australian Catholic Superannuation account review

Australian Catholic Super is a fund guided by Catholic values which helps you plan for your future.

Australian Catholic Super is a profit-to-member super fund designed to help Australians plan for their future. Historically the fund was closed to those working in Catholic education, healthcare, aged care and welfare, but is now open to everyone. As a member you can select the fund’s MySuper authorised balance product which will automatically invest your super across a range of asset classes, or take on a more active role by choosing from a range of investment options.

The list of awards and honours Australian Catholic has earned

  • Conexus Financial Superannuation Awards, 2017. Australian Catholic Super was awarded the Innovation and Transformation Award for its account-based pension product RetireSmart.
  • Australian Business Awards, 2017. Award for Process Improvement
  • Industry Fund Services (IFS) Professional Development Conference. Awarded the Team of the Year Award and Financial Planner of the Year Award (2016 and 2017)

Read on to learn more about how you can invest.

Key features

  • MySuper option
  • Profit-to-member fund
  • Flexible insurance cover
  • Access to financial advice and banking services
  • Online self-management
  • Diverse investment options

Investment choices

Australian Catholic Super offers you 12 different investment options including the default MySuper product, depending on how hands-on you want to be with your super. These options are detailed below:

Option 1: MySuper Balanced

If you’d like Australian Catholic Super to completely manage your investment options then you’ll be placed in the default option called MySuper Balanced. The product will automatically invest your super across a range of major asset classes that they expect will produce high long-term returns. If you don’t plan on touching your super anytime soon and are prepared to accept short-term fluctuations in your returns for long-term gain then this may be the option for you.

ProductMinimum time frameRisk levelFive-year average returns*Asset allocation
MySuper Balanced5+ yearsHigh7.72%Growth: 59.9%
Defensive: 40.1%
-
Australian shares 22%International shares 22%Infrastructure 11%Property 11%Alternatives 16%Multi-asset 6%Bonds 4.5%Credit income 4.5%Cash and term deposits 3%

Option 2: Managed options (mix of asset classes)

If you’re after a pre-mixed investment option offering diversification across asset classes you can choose from Australian Catholic Super’s managed options:

  • Shares. 100% exposure to equity markets within Australia and internationally
  • Growth. Diversified across all major asset classes with a bias towards Australian and international shares
  • Socially Responsible Balanced (SRB). Diversified across all major asset classes with a focus on environmental, social and governance issues
  • Conservative Balanced. Diversified across all major asset classes with a slight bias towards conservative assets such as fixed interest and cash
  • Conservative. Diversified across all major asset classes with higher allocation to conservative assets such as fixed interest and cash
ProductMinimum time frameRisk levelFive-year average returns*Asset allocation
Shares7+ yearsVery high10.49%
  • Australian shares 48%
  • International shares 52%
  • Cash and term deposit 0%
Growth7+ yearsHigh8.73%
  • Australian shares 31%
  • International shares 31%
  • Infrastructure 11%
  • Property 11%
  • Alternatives 8%
  • Multi-asset 3%
  • Bonds 2.5%
  • Credit income 2.5%
  • Cash and term deposit 0%
SRB5+ yearsHigh7.55%
  • Australian shares 28%
  • International shares 22%
  • Property 10%
  • Alternatives 10%
  • Bonds 23%
  • Cash and term deposit 7%
Conservative Balanced4+ yearsMedium to high5.98%
  • Australian shares 13%
  • International shares 13%
  • Infrastructure 10%
  • Property 10%
  • Alternatives 6%
  • Multi-asset 6%
  • Bonds 19%
  • Credit income 19%
  • Cash and term deposit 4%
Conservative3+ yearsMedium4.56%
  • Australian shares 5.5%
  • International shares 5.5%
  • Infrastructure 5%
  • Property 5%
  • Alternatives 6%
  • Multi-asset 6%
  • Bonds 22.5%
  • Credit income 22.5%
  • Cash and term deposit 22%

Option 3: Build your own options (single asset classes)

If you want to build your own strategy you can use Australian Catholic Super’s single asset classes to design a portfolio. You can choose to invest in Australian shares, international shares, property, bonds, credit income and cash and term deposits.

ProductMinimum time frameRisk levelFive-year average returns*Asset allocation
Australian Shares7+ yearsVery high8.12%
  • Australian shares 100%
  • Cash and term deposits 0%
International Shares7+ yearsVery high12.43%
  • International shares 100%
  • Cash and term deposits 0%
Property7+ yearsMedium to high8.38%
  • Property 100%
  • Cash and term deposit 0%
Bonds3+ yearsHigh3.01%
  • Bonds 90%
  • Credit income 10%
Credit income3-5 yearsLow to medium2.31%
  • Credit income 100%
  • Cash and term deposit 0%
Cash and term deposit1-3 yearsVery lowNot available
  • Cash and term deposit 100%

*The investment performance and asset allocation was correct as of February 2018. Past performance is not an indicator of future performance.

Fees

Australian Catholic Super has a number of fees and other costs which you should consider before deciding to open an account. Standard fees relating to your account administration and your investments management will be deducted from your account regularly, while other fees such as financial advice and insurance will be deducted depending on your choices. It’s important to note that fees may vary between each investment option.

ProductFees
MySuper Balanced
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.55%
  • Annual indirect cost ratio: 0.35%
Shares
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.28%
  • Annual indirect cost ratio: 0.21%
Growth
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.53%
  • Annual indirect cost ratio: 0.32%
Socially Responsible Balanced
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.57%
  • Annual indirect cost ratio: 0.15%
Conservative Balanced
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.46%
  • Annual indirect cost ratio: 0.32%
Conservative
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.38%
  • Annual indirect cost ratio: 0.27%
Australian Shares
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.26%
  • Annual indirect cost ratio: 0.21%
International Shares
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.28%
  • Annual indirect cost ratio: 0.21%
Property
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 1.03%
  • Annual indirect cost ratio: 1.13%
Bonds
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.28%
  • Annual indirect cost ratio: 0.27%
Credit Income
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.27%
  • Annual indirect cost ratio: 0.34%
Cash and term deposit
  • Annual admin fee: $1.50 per week plus 0.25% of your account balance (capped at $2,000)
  • Annual investment fee: 0.09%
  • Annual indirect cost ratio: 0.00%

Other fees and costs:

  • Australian Catholic Super has an arrangement with Industry Fund Services to provide financial planning services on a fee-for-service basis. If you select this service, the costs will be outlined in a Statement of Advice provided by a financial planner.
  • Insurance premiums if you have insurance cover in Australian Catholic Super.
  • Exit fee: $55

Example of annual fees and costs for a MySuper Balanced account with a balance of $50,000:

Investment fees$275 (0.55% p.a.)
Administration fees$78 plus $125 ($78 plus 0.25% of your balance)
Indirect costs$175 (0.45% p.a.)
Total$653

For a more detailed breakdown of fees and additional charges always read the PDS available on the website.

Insurance

As an Australian Catholic Super employer-sponsored member you will receive automatic death, total and permanent disability, and income protection cover.

As a personal member you will receive default death and TPD cover. Your age and employment status will determine the amount of cover you automatically receive and how much it costs.

Automatic cover (employer sponsored)

If If your employer offers a Australian Catholic Superannuation fund then you’ll automatically have access to three types of insurance:

  • Death cover (including terminal illness cover), which pays a lump sum to your elected beneficiaries if you die or suffer a terminal illness;
  • Total and permanent disablement cover (TPD), which pays a lump sum if illness or injury means you are unlikely to ever be able to work again; and
  • Income protection (IP), which pays you a monthly income while you’re temporarily unable to work due to illness or injury.

Insurance will automatically be added to your account and premium deducted when you open an account with Australian Catholic Super. You can elect to opt-out.

Member typeInsurance typeCostValue range
Employer sponsored <25Death/TDP cover$1.29 p/w$105,300 - $108,200
Income Protection$15.06 p/a - $230.97 p/aUp to 85% of a salary of up to $15,000
Employer sponsored >25Death/TPD cover$3.87 p/w$10,200 - $315,900
Income Protection$15.06 p/a - $230.97 p/aUp to 85% of a salary of up to $15,000

Automatic cover (personal member)

If you are a personal member (ie your employer is not with the fund) then you’ll receive automatic death and TPD insurance.**

Member typeInsurance typeCostValue range
Personal memberDeath/TPD cover$1.35 p/w$3,400 - $108,200

**Note: There may be exclusions and/or restrictions which apply to your insurance cover. Check the Insurance Guide available via the Australian Catholic Super website.

Pros and cons

Pros:

  • MySuper authorised account
  • Socially Responsible investment option
  • Death, TPD and income protection insurance available

Cons:

  • No mobile app
  • Exit fee applies

How do I apply?

If you’ve decided to select this fund you can open an account online by clicking the green "Go to Site" button at the top of this page.

Make sure you have:

  1. A spare ten minutes
  2. Your personal details, including your name, address, date of birth and contact information
  3. Your Tax File Number (it's not compulsory to give your super fund your TFN, but without it your fund won’t be able to accept certain types of contributions from you, and your benefit payments may be taxed at a higher rate than would otherwise apply)
  4. Your employer’s details

To sign up for an account you must be:

  • An Australian resident
  • Over 18 years of age
  • Earning at least $450/month before tax

Consolidating your super

If you’ve changed jobs or switched industries it’s likely that you’ll have multiple super accounts and be paying fees on all these accounts. You can ask Australian Catholic Super to search the ATO for any other super you may have via the application form.

Managing your account

You can access your super balance and account details online 24/7 via the member portal.

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