Australian Catholic Superannuation | Performance, features and fees
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. You have the option of getting Australian Catholic Superannuation to manage your investment options through the default MySuper option called LifetimeOne, with the asset allocations adjusting according to your age. Alternatively, you can take a more active role by choosing from a range of investment options on offer.
Past performance - 1 year
Past performance - 5 Years
Annual fees on $50k balance
|Product Name||Australian Catholic Super Lifetime - Grow|
|Past performance - 5 Years||N/A|
|Annual admin fee||$78 + 0.25% of balance p.a.|
|Insurance included||Death,TPD,Income Protection|
|Number of members||86,000|
Performance figures quoted on this page are correct to December 2020, according to Chant West. Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.
The list of awards and honours Australian Catholic Super 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)
What are the key features of Australian Catholic Super?
- MySuper option. This is the default option, and invests your super on your behalf in line with your age. As you get older, the mix of assets your super is invested in will change.
- Profit-to-member fund. This isn't a retail fund, it's a profit-to-member fund with profits going back into the fund for the benefit of members.
- Flexible insurance cover. You will receive automatic default death and TPD cover, which you can choose to opt out of at any time.
- Easily consolidate your super. You can ask Australian Catholic Super to search the ATO for any other super you may have via the application form.
- Online self-management. You can access your account online 24/7 via the member portal to keep up-to-date with your contributions and how your investments are performing. However, there's no mobile app available yet.
- Diverse investment options. You have 14 different investment options to choose between, including a socially-responsible investment option.
Australian Catholic Super offers you 14 different investment options depending on how hands-on you want to be with your super, including the default MySuper product, which is based on your age. These options are detailed below.
What are the 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.
Example of annual fees and costs for a LifetimeOne account with a balance of $50,000
|Fee type||Fee value|
|Administration fees||$78 + 0.25% of balance|
|Indirect costs including investment fees||0.72%|
|Total fees on $50,00 balance||$563|
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 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.
How do I join Australian Catholic Super?
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:
- A spare ten minutes
- Your personal details, including your name, address, date of birth and contact information
- 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)
- Your employer’s details
To sign up for an account you must be:
- An Australian resident
- Over 12 years of age
- Earning at least $450/month before tax