QSuper | Performance, features and fees

QSuper is a lifetime account that readjusts your investment mix as you get older.

QSuper's Accumulation account is a low-fee MySuper authorised product which helps you to save for your retirement. It automatically adjusts your mix of investments as you get older so you don’t have to worry about switching accounts. Alternatively, you can also take a more active role and choose from a range of investment options, ranging from lower risk/lower return to higher risk/higher return. QSuper allows you to monitor and manage your super anytime online.

11.03%

Past performance - 1 year

9.74%

Past performance - 5 Years

$395

Calculated fees p.a. on $50,000 balance

Details

Name QSuper Lifetime - Aspire 1
Past 5 year performance 9.74%
Annual admin fee
0.16% of balance p.a.
Calculated fees on 50K $395
Insurance included Death, TPD
Number of members 580,000

Awards won by QSuper

  • Choice Super Fund of the Year (SuperRatings Awards 2018)
  • Best Fund: Investments (Chant West Awards 2017)
  • Large Fund of the Year (Conexus Financial Awards 2017)

What are the key features of QSuper?

  • Automatic death and TPD insurance. The automatic cover you receive will depend on your employment arrangements and your age. You can also opt out of insurance if you don't need it.
  • Automatically adjusts to meet your stage in life. The default MySuper option (Lifetime) is managed for you, with the investments changing over time in line with your age.
  • Pre‑mixed investment options. If you don't opt for the lifetime investment option, you can choose between a range or pre-mixed options including a socially responsible option.
  • Self-invest directly in shares, ETFs and term deposits. If you want to be more hands-on with your super you can invest in a range of single asset options.
  • Manage your super online. Keep track of your super, make contributions and change your investment options online 24/7 using the member portal. However, there's no mobile app available at this stage.
  • Consolidate your super. You can ask QSuper to search the ATO for any other super you may have when you complete the application form.
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QSuper investment options

QSuper Accumulation offers four ways to invest depending on how hands-on you want to be with your super. These options are detailed below:

What are the fees?

QSuper Accumulation has a number of fees and other costs which will be deducted from your account on a regular schedule. These fees relate to the administration of your account and the management of your investments and are presented as a percentage of your balance. See the example below for fees applied on a balance of $50,000 in the default Lifetime aspire 1 investment option.

Example of annual fees and costs on $50,000 in Lifetime Aspire 1 account

Investment fees including Indirect Cost Ratio0.63%
Administration fees0.16%
Total$395

Other costs may be charged for additional services including personal financial advice and insurance premiums. Within the Lifetime option, there is a difference in fees depending which group you fall into. QSuper says the difference in fees reflects the cost of managing the assets. Click below to see the fees applied for each different investment option.

What insurance cover does QSuper offer?

As a QSuper Accumulation member, you will receive automatic death and total and permanent disability cover, and some members will also receive default income protection cover. What cover you automatically get (and how much) is determined by your employment arrangements and your age.

Summary of default insurance as included in the QSuper PDS document.

SituationDefault death coverDefault TPD coverDefault IP cover
I work for the Queensland Government on a permanent full-time or part-time basis and make standard contributions.
I work for a default employer or the Queensland Government on a permanent full-time or part-time basis and don’t make standard contributions.
I am a police officer with the Queensland Police Service.
I work for a default employer or the Queensland Government as a casual employee, or my account was opened as a result of a family law split.Must apply
I have an Income account and an Accumulation account is opened for me as a result of a contribution (including consolidation from another fund).Must apply
I have applied for an Accumulation account direct with QSuper (not through my employer).Must apply

If you're looking for more information on the different insurance covers offered by QSuper take a look at our detail reviews on QSuper income protection, QSuper TPD cover and QSuper Life insurance.

What you pay for insurance depends on your age, employment arrangements, and how much cover you have. For example you could pay between $0.43 and $1.28 a week for Death cover, and between $0.03 and $3.18 a week for TPD cover. Insurance offered through QSuper is provided by QInsure.

Note

There may be exclusions and/or restrictions which apply to your insurance cover. Check the “Accumulation Account Insurance Guide” available via the QSuper website.

How do I join QSuper?

If you’ve decided to select this fund you can open an accumulation 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 unnecessary 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

Nominate your beneficiaries

Once you sign up for an account you’ll be asked to nominate your beneficiaries. The person/s nominated will receive your super and any insured death benefit if something happens to you. You can nominate one or more dependents.

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4 Comments

  1. Default Gravatar
    Navzad
    September 18, 2019

    Hello,

    I’m on a working/holiday Visa and am quite inexperienced with money and tax lingo. I’m really just looking for a basic, trustworthy super account for my stay while I’m here. All the different options make me a little dizzy.

    Can someone assist me with the kind of account I should open up?

    • AvatarStaff
      Nikki
      September 19, 2019

      Hi Navzad,

      Thanks for getting in touch! You can find superfund options via our page here. In the page, you will find a table that compares the features and benefits of each superfund provider based on its yearly performance. This way it will be easier for you to see which provider fits you best. If you need further help, a quick guide on how to compare super funds is also stated on the page.

      You can also click the compare box beside each provider and compare up to 4 options side by side for easier comparison. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. You may also contact the bank should you have any questions about their product.

      Hope this helps!

      Best,
      Nikki

  2. Default Gravatar
    richard
    October 22, 2017

    Hello.
    I am interested in opening a super account where I can consolidate all of my super funds into the one fund.
    Can you please let me know of any funds in Australia where I can transfer my UK based super fund (along with my other Australian based funds) into a single super account?
    Thank you for your kind assistance.

    • AvatarStaff
      Joanne
      October 23, 2017

      Hi Richard,

      Thanks for reaching out.
      To give you additional information on managing your super fund you may refer to this guide. As we are a comparison website, we are unable to make recommendations, we can offer general advise. For you to compare super funds side by side you may go ahead and view this page. The link will allow you to assess which super fund would best suit your needs. Managing your own super gives you greater access and control as to how and where you should invest it.

      Cheers,
      Joanne

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