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QSuper Accumulation account review

QSuper Accumulation is a lifetime account designed to reflect your needs as you move through the workforce.

QSuper Accumulation is a MySuper authorised product which gives you the flexibility 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 understand and manage your super anytime online. Read on to learn more about the ways you can invest.

Key features

  • Automatic death and TPD insurance
  • Pre‑mixed investment options
  • Automatically adjusts to meet your stage in life
  • Self-invest directly in shares, ETFs and TDs
  • Manage your super online
  • Access to financial advice

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:

Option 1: Lifetime (MySuper) option

When you apply to become a QSuper Accumulation member the fund will automatically place you in the Lifetime (MySuper) option. This product will manage your super for you, automatically adjusting you to a more conservative mix of assets such as fixed income and cash, and away from growth assets such as shares and property, as you get older and your account balance changes. Lifetime uses a lifecycle investment approach so you have a super strategy tailored to your age and Lifetime balance:

  • Outlook – when you’re under 40
  • Aspire 1 - when you're 40-49 and have less than $50,000 invested
  • Aspire 2 - when you're 40-49 and have $50,000 or more invested
  • Focus 1 - when you're 50-57 and have less than $100,000 invested
  • Focus 2 - when you're 50-57 and have $100,000 to less than $250,000 invested
  • Focus 3 - when you're 50-57 and have $250,000 or more invested
  • Sustain 1 - when you're 58 or over and have less than $300,000 invested
  • Sustain 2 - when you're 58 or over and have less than $300,000 invested
AgeRisk levelThree-year average return*Asset allocation
<40
  • Outlook: (any balance): Medium to High
  • 8.77%
Outlook:

  • Cash 0-15%
  • Fixed interest 0-35%
  • Real estate 0-25%
  • Equities 5-65%
  • Infrastructure 0-25%
  • Commodities 0-20%
  • Alternatives 0-30%
40-49
  • Aspire 1: (<$50k): Medium to high
  • Aspire 2: (>$50k): Medium to high
  • Aspire 1: 8.90%
  • Aspire 2: 7.45%

Aspire 1:

  • Cash 0-15%
  • Fixed interest 0-35%
  • Real estate 0-25%
  • Equities 5-65%
  • Infrastructure 0-25%
  • Commodities 0-20%
  • Alternatives 0-30%

Aspire 2:

  • Cash 0-20%
  • Fixed interest 10-60%
  • Real estate 0-25%
  • Equities 5-50%
  • Infrastructure 0-25%
  • Commodities 0-20%
  • Alternatives 0-30%
50-57
  • Focus 1 (<$100k): Medium
  • Focus 2 ($100k-$200k): Medium
  • Focus 3 (>$250k):Medium
  • Focus 1: 7.43%
  • Focus 2: 6.61%
  • Focus 3: 5.78%
Focus 1:

  • Cash 0-20%
  • Fixed interest 10-60%
  • Real estate 0-25%
  • Equities 5-50%
  • Infrastructure 0-25%
  • Commodities 0-20%
  • Alternatives 0-30%
Focus 2:

  • Cash 0-25%
  • Fixed interest 20-70%
  • Real estate 0-20%
  • Equities 0-45%
  • Infrastructure 0-20%
  • Commodities 0-20%
  • Alternatives 0-35%
Focus 3:

  • Cash 0-30%
  • Fixed interest 30-75%
  • Real estate 0-20%
  • Equities 0-45%
  • Infrastructure 0-20%
  • Commodities 0-20%
  • Alternatives 0-35%
58+
  • Sustain 1 (<$300k): Low
  • Sustain 2 (>$300k): Very low
  • Sustain 1: 5.30%
  • Sustain 2: 3.72%

Sustain 1:

  • Cash 40-75%
  • Fixed interest 0-35%
  • Real estate 0-20%
  • Equities 0-45%
  • Infrastructure 0-20%
  • Commodities 0-20%
  • Alternatives 0-35%

Sustain 2:

  • Cash 50-90%
  • Fixed interest 0-35%
  • Real estate 0-20%
  • Equities 0-45%
  • Infrastructure 0-20%
  • Commodities 0-20%
  • Alternatives 0-35%

Option 2: Diversified

If you’re after a pre-mixed investment option offering diversification across asset classes, you can choose from QSuper's Diversified options – Moderate, Balanced, Aggressive and Socially Responsible. The Socially Responsible investment option is managed by AMP Capital Investors through its Responsible Investment Leaders Balanced Fund (RIL), and will avoid companies operating within sectors recognised as having a high negative social impact. The fund will avoid exposure to companies involved with the manufacturing of tobacco, nuclear power, gambling, alcohol and pornography and will seek to invest in companies with strong ethical, environmental and social values.

ProductRiskFive-year return*Target asset allocation
Moderate
  • Low
  • 6.05%
  • Cash 40-70%
  • Fixed interest 2.5-17.5%
  • Real Estate 0-10%
  • Equities 12.5-27.5%
  • Infrastructure 0-10%
  • Commodities 0-7.5%
  • Alternative assets 0-12.5%
Balanced
  • Medium
  • 9.73%
  • Cash 0-2%5
  • Fixed interest 5-35%
  • Real Estate 0-20%
  • Equities 25-55%
  • Infrastructure 0-20%
  • Commodities 0-15%
  • Alternative assets 0-25%
Aggressive
  • Medium to high
  • 12.01%
  • Cash 0-15%
  • Fixed interest 5-35%
  • Real Estate 0-20%
  • Equities 25-55%
  • Infrastructure 0-20%
  • Commodities 0-15%
  • Alternative assets 0-25%
Socially Responsible
  • High
  • 8.41%
  • Cash 0-15%
  • Fixed interest 0-35%
  • Real Estate 0-10%
  • Equities 35-92%
  • Infrastructure 0-10%
  • Commodities n/a
  • Alternative assets 0-6%

Option 3: Single Sector

If you want to build your own strategy, you can use QSuper’s single asset class Single Sector to design a portfolio. You can choose to invest in a mix of options – cash, bonds, Australian shares and International shares, or combine them with the Diversified, Lifetime and/or Self Invest options.

ProductRiskFive-year return*Asset allocation
Cash
  • Very low
  • 1.88%
  • Cash 100%
Diversified Bonds
  • Low to medium
  • 3.99%
  • Cash 0-10%
  • Fixed interest 90-100%
Australian Shares
  • Very high
  • 10.46%
  • Cash 0-10%
  • Australian Shares 90-100%
International Shares
  • Very high
  • 13.89%
  • Cash 0-10%
  • International Shares 90-100%

*Performance and asset allocation figures correct as at December 2017. Past performance is not an indicator of future performance.

Option 4: Self Invest

For those of you who want to get really hands-on with your super, QSuper offers Self Invest – an option which allows you to add term deposits, ASX 300 shares and/or exchange traded funds (ETFs) into the mix and manage it entirely online.

ProductRiskAbout
Term DepositsLow
  • You can choose an investment term ranging from 30 days to 365 days. Term deposits cannot be broken, except in special circumstance.
ASX 300 SharesVery high
  • You can choose to invest in the top 300 Australian shares (by market capitalisation and liquidity).
ETFsVery high
  • ETFs offer a way to invest in a portfolio of investments, are similar to managed funds and can be traded like shares on the Australian Securities Exchange.

Fees

QSuper Accumulation has a number of fees and other costs which will be deducted from your account on a regular schedule. Fees relate to the administration of your account and the management of your investments. 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.

ProductFees
Lifetime: Outlook
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.82% p.a.
  • Indirect cost ratio: 0.21% p.a.
  • Total fee: 1.21% p.a.
Lifetime: Aspire 1 and 2
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.68% p.a.
  • Indirect cost ratio: 0.18% p.a.
  • Total fee: 1.04% p.a.
Lifetime: Focus 1, 2 and 3
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.58% p.a.
  • Indirect cost ratio: 0.15% p.a.
  • Total fee: 0.91% p.a.
Lifetime: Sustain 1 and 2
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.39% p.a.
  • Indirect cost ratio: 0.09% p.a.
  • Total fee: 0.66% p.a.
Diversified: Moderate
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.40% p.a.
  • Indirect cost ratio: 0.10% p.a.
  • Total fee: 0.68% p.a.
Diversified: Balanced
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.71% p.a.
  • Indirect cost ratio: 0.20% p.a.
  • Total fee: 1.09% p.a.
Diversified: Aggressive
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.75% p.a.
  • Indirect cost ratio: 0.20% p.a.
  • Total fee: 1.13% p.a.
Diversified: Socially Responsible
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.71% p.a.
  • Indirect cost ratio: 0.31% p.a.
  • Total fee: 1.20% p.a.
Single Sector: Cash
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.06% p.a.
  • Indirect cost ratio: 0.00% p.a.
  • Total fee: 0.24% p.a.
Single Sector: Diversified Bonds
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.17% p.a.
  • Indirect cost ratio: 0.22% p.a.
  • Total fee: 0.57% p.a.
Single Sector: International Shares
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.11% p.a.
  • Indirect cost ratio: 0.01% p.a.
  • Total fee: 0.30% p.a.
Single Sector: Australian Shares
  • Admin fee: 0.18% p.a.
  • Total investment fee: 0.08% p.a.
  • Indirect cost ratio: 0.01% p.a.
  • Total fee: 0.27% p.a.
Self Invest
  • Administration fee: 0.18% p.a.
  • Investment fee – access fee $299 per annum
  • Investment fee – cash management fee 0.40% p.a.

of transaction account balance

  • Brokerage fee (Applicable to ETFs and shares only):

$29.50-$46.50 (plus 0.11% on order values over $27,500)

Other fees and costs:

  • Advice fee via QInvest, if you agree with your financial adviser to pay a fee for the service. QInvest will let you know up front what the advice will cost and will also provide you with a Statement of Advice which details all fees.
  • Insurance premiums if you have insurance cover in QSuper.

Example of annual fees and costs for $50,000 Lifetime Outlook account:

Investment fees$410 (0.82% p.a.)
Administration fees$90 (0.18% p.a.)
Indirect costs$105 (0.21% p.a.)
Total$605 (1.21% p.a.)

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

Insurance

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

Pros and cons

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.

Pros:

  • MySuper authorised
  • Socially responsible account available
  • Death, TPD and income protection insurance
  • Lots of different ways to invest

Cons:

  • No mobile app

How do I apply?

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

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 QSuper to search the ATO for any other super I may have via the application form.

Managing your account

You can access your super balance, make extra contributions into your super and change your investment options online 24/7 via Member Online.

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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2 Responses

  1. Default Gravatar
    richardOctober 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.

    • finder Customer Care
      JoanneOctober 23, 2017Staff

      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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