Sunsuper Review | Performance, features and fees

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Last updated: Mar 17, 2020

Sunsuper is designed to help you manage your super from your first day of work and throughout retirement.

Sunsuper offers a MySuper-authorised product which helps you save for your future. You’ll have access to both a Super-savings account while you’re in the workforce and an Income account for when you’re transitioning to retirement. You can also choose to take a more hands-on approach and select from a range of investment options. Sunsuper gives you complete access to your super anywhere, anytime with Member Online and the Sunsuper app. Read on to learn more about the ways you can invest.

15.35%

Past performance - 1 year

8.99%

Past performance - 5 Years

$533

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

Product Name	Sunsuper Lifecycle Balanced
Past performance - 5 Years	8.99%
Annual admin fee	$78 + 0.1% of balance p.a.
Insurance included	Death,TPD
Number of members	1,323,000

Product Name	Sunsuper - Socially Conscious Balanced
Past performance - 5 Years	6.9%
Annual admin fee	$78 + 0.1% of balance p.a.
Number of members	1,323,000

Performance figures quoted on this page are correct to December 2019, according to Chant West. Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.

Alison Banney

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years, with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. She has previously worked at Westpac, and has written for several other major banks including BCU, Greater Bank and Gateway Credit Union. Alison has a Bachelor of Communications from Newcastle University, with a double major in Journalism and Public Relations. She has ASIC RG146 compliance certificates for Financial Advice, Securities and Managed Investments and Superannuation. Outside of Finder, you’ll likely find her somewhere near the ocean.

What are the key features of Sunsuper?

Lifecycle investment strategy. This strategy is an ideal set-and-forget investment option as it adjusts in line with your age throughout your working life.
MySuper authorised. Sunsuper's Lifecycle investment option is the authorised MySuper investment option; a low-fee, no-frills default option.
Flexible insurance cover. Access to death and total and permanent disability assist cover, with the option to increase or decrease your cover and add income protection insurance.
20 different investment options. You can choose from a Lifecycle investment option, between a number of pre-mixed diversified options or create a build-your-own option.
Manage your super online or via a mobile app. Enjoy easy access to your super online or when you're out and about via the mobile app.
Member benefits. Dream Rewards is Sunsuper's member rewards program which offers deals and discounts with companies across Australia.
Socially responsible investing. A pre-mixed, balanced socially responsible investment option is available.
Earn a Retirement Bonus. When you're ready to retire and switch over to a Income account, a retirement bonus of up to $4,800 may be paid on funds moved into your new account.

What investment options does Sunsuper offer?

Sunsuper for life offers three ways to invest depending on how hands-on you want to be with your super. These options are detailed below:

When you apply to become a Sunsuper for life member the fund will automatically place you in its Lifecycle Investment Strategy (MySuper) option. With this product your super will be managed for you, starting you in a Super-savings account while you’re working then transitioning you to an Income account when you near retirement. The account will accept contributions from your employer (including salary-sacrifice contributions) as well as voluntary after-tax contributions and rollovers from other funds.

A special feature of this product is its lifecycle strategy, gradually transitioning you towards lower-risk investments such as cash and fixed-income as you approach age 65. This works by first placing you in the Balanced Pool until you’re aged 55, and then moving you to the Retirement Pool (age 60) and then the Cash Pool (age 65).

	Risk	5-year return*	Asset allocation
Balanced Pool	Medium to high	10.5% p.a.	Australian shares 22.5% International shares 27.5% Private capital 7% Property 11% Diversified strategies 5% Infrastructure 8% Fixed interest 8% Hedge funds 5% Cash 6%
Retirement Pool	Medium	7.7% p.a.	Australian shares 17.5% International shares 15.5% Private capital 5% Property 10% Diversified strategies 5% Infrastructure 7% Fixed interest 22% Hedge funds 6% Cash 12%
Cash Pool	Very low	2.0% p.a.	Cash 100%

Risk

5-year return*

Asset allocation

Balanced Pool

Medium to high

10.5% p.a.

Australian shares 22.5%

International shares 27.5%

Private capital 7%

Property 11%

Diversified strategies 5%

Infrastructure 8%

Fixed interest 8%

Hedge funds 5%

Cash 6%

Retirement Pool

Medium

7.7% p.a.

Australian shares 17.5%

International shares 15.5%

Private capital 5%

Property 10%

Diversified strategies 5%

Infrastructure 7%

Fixed interest 22%

Hedge funds 6%

Cash 12%

Cash Pool

Very low

2.0% p.a.

Cash 100%

If you'd prefer to take control of your super, choose from one of Sunsuper’s diversified options, a single asset option, or a mix of up to 10 from their full range of 19 options.

Diversified options

Product	Risk	5-year return*	Asset allocation (target range)
Growth	High	11.3% p.a.	Australian shares: 0-50% International shares: 0-70% Private capital: 0-20% Property: 0-30% Diversified strategies: 0-15% Infrastructure: 0-20% Fixed interest: 0-20% Hedge funds: 0-20% Cash: 0-20%
Balanced	Medium to high	10.5% p.a.	Australian shares: 0-50% International shares: 0-70% Private capital: 0-15% Property: 0-30% Diversified strategies: 0-15% Infrastructure: 0-20% Fixed interest: 0-30% Hedge funds: 0-25% Cash: 0-25%
Balanced – Index	High	10.1% p.a.	Australian shares: 20-40% International shares: 30-50% Property 0-20% Fixed interest: 20-35% Cash: 0-10%
Socially Conscious Balanced – managed by AMP Capital Investors	Medium to high	8.8% p.a.	Australian shares: 20-40% International shares: 15-42% Property: 0-20% Infrastructure: 0-7% Fixed interest: 0-45% Cash: 0-20% Alternatives:0-6%
Diversified Alternatives	Medium	n/a	Private capital: 20-45% Infrastructure: 20-45% Hedge funds: 20-45% Cash: 0-10%
Retirement	Medium	7.8% p.a.	Australian shares: 0-50% International shares: 0-55% Private capital: 0-15% Property: 0-30% Diversified strategies: 0-15% Infrastructure: 0-20% Fixed interest: 0-50% Hedge funds: 0-15% Cash: 0-25%
Conservative	Low to medium	6.2% p.a.	Australian shares: 0-30% International shares: 0-30% Private capital: 0-10% Property: 0-20% Diversified strategies: 0-15% Infrastructure: 0-20% Fixed interest: 0-70% Hedge funds: 0-15% Cash: 0-100%

Single asset options

Product	Risk	5-year return*	Asset allocation
Shares	High	11.9% p.a.	Australian shares: 40-60% International shares: 40-60%
Australian Shares	Very high	10.8% p.a.	Australian shares 100%
Australian Shares – Index	Very high	10.5% p.a.	Australian shares 100%
International Shares – Index (hedged)	Very high	13.9% p.a.	International shares 100%
International Shares – Index (unhedged)	High	17.8% p.a.	International shares 100%
Emerging Markets Shares	Very high	8.3% p.a.	International shares emerging 100% International shares developed 0%
Property	Medium to high	9.9% p.a.	Property 100%
Australian Property – Index	Very high	12.5% p.a.	Australian property 100%
Diversified Bonds	Medium	3.8% p.a.	Fixed interest 100%
Diversified Bonds – Index	Medium	4.4% p.a.	Fixed interest 100%
Cash	Very low	2.4% p.a.	Cash 100%
Capital Guaranteed	Very low	3.2% p.a.	Deposits with ADIs and Capital Guaranteed Investments 100%

*Performance and asset allocation figures correct as at January 2019. Past performance is not an indicator of future performance.

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What fees apply?

Sunsuper for life has a number of fees and other costs which will be deducted from your account on a regular basis. 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.

Example of annual fees and costs for a $50,000 Super-savings account (Lifecycle investment strategy):

Administration fees: $78 + 0.1%

Indirect cost including investment fees: 0.81%

Total calculated fees: $533

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

Lifecycle investment strategy	Admin fee	Total estimated investment fee	Indirect cost ratio
Super-savings account (Balanced Pool)	$1.50 per week plus 0.10% p.a. of the first $800,000 of your account balance	0.26% p.a.	0.62% p.a.
Income account (Retirement Pool)	$3.00 per week plus 0.10% p.a. of the first $800,000 of your account balance	0.26% p.a.	0.56% p.a.
Diversified options
Growth	$1.50 per week plus 0.10% p.a. of the first $800,000 of your account balance	0.31% p.a.	0.58% p.a.
Balanced		0.31% p.a.	0.56% p.a.
Balanced – Index		0.06% p.a.	0.19% p.a.
Socially Conscious Balanced		0.06% p.a.	1.05% p.a.
Diversified Alternatives		0.35% p.a.	1.76% p.a.
Retirement		0.30% p.a.	0.56% p.a.
Conservative		0.29% p.a.	0.38% p.a.
Single asset options (you can choose up to 10 single asset options)
Shares		0.28% p.a.	0.07% p.a.
Australian Shares		0.31% p.a.	0.17% p.a.
Australian Shares – Index		0.09% p.a.	0.01% p.a.
International Shares – Index (hedged)		0.09% p.a.	0.01% p.a.
International Shares – Index (unhedged)		0.09% p.a.	0.01% p.a.
Emerging Markets Shares		0.13% p.a.	0.01% p.a.
Property		0.16% p.a.	0.89% p.a.
Australian Property – Index		0.06% p.a.	0.06% p.a.
Diversified Bonds		0.34% p.a.	0.10% p.a.
Diversified Bonds – Index		0.06% p.a.	0.14% p.a.
Cash		0.07% p.a.	0.00% p.a.
Capital Guaranteed		0.09% p.a.	0.27% p.a.

Other fees and costs that may apply:

Insurance premiums if you have insurance cover in Sunsuper
Fee for personal advice from a Sunsuper financial adviser or an external adviser
An exit fee of

What insurance options does Sunsuper offer?

As a Sunsuper Super-savings account member you will automatically receive access to death and total and permanent disability assist cover, and have the option to increase cover and add income protection insurance, provided you meet some basic criteria.

The amount of death and TPD assist cover you will receive with your account will depend on your age and the type of cover. You also have the option to increase your level of cover, should you wish to do so.

The cost of your cover will depend on your age and gender and the cost will change with your age over time. Premiums are calculated weekly and are deducted from your account each month. Once you are retired, you can continue your insurance cover as long as you continue to hold a Super-savings account (with a minimum account balance of $1,500).

Example Death and TPD Assist cover levels and cost (new member options):

Your age	Death cover	TPD Assist cover	Cost per week – Male	Cost per week – Female
15	$62,500	$125,000	$2.28	$1.36
25	$125,000	$175,000	$3.92	$2.68
35	$240,000	$240,000	$7.08	$4.84
45	$132,000	$132,000	$8.44	$6.76
55	$42,000	$42,000	$8.44	$6.76
65	$16,000	$16,000	$8.44	$6.76

Insurance offered through Sunsuper is provided by AIA Australia Limited.

If you're looking for more information on Sunsuper's life insurance take a look at our detailed guide here, and if you're looking for more information on Sunsuper's income protection insurance read here.

Note: there may be exclusions and/or restrictions which apply to your insurance cover. Check the “Sunsuper for Life Insurance Guide” available via the Sunsuper website.

How do I join Sunsuper?

If you’ve decided to select this fund you can open an accumulation account online by clicking the green "Go to Sunsuper's website" button above.

Make sure you have:

A spare 10 minutes
Your personal details, including your name, address, date of birth and contact information
Your tax file number (it's not compulsory to give a 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

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Sunsuper FAQs

Can you consolidate your super with Sunsuper?

If you’ve changed jobs or moved industries, it’s likely that you’ll have multiple super accounts and be paying fees on all these accounts. You can ask Sunsuper to search the ATO for any other super you may have via the Rollover tool or filling out the ‘Combine your super into Sunsuper’ form.

How do you manage your account?

You can access your super balance, update your details or manage your super investments online 24/7 via Member Online or on your mobile with the Sunsuper app.

How do I nominate my 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.

DISCLAIMER: This article may contain general advice. You should consider your own personal circumstances before deciding if a superannuation product is right for you. Superannuation is a long term investment and past performance is not indicative of future performance.

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2 Comments

Jerry
August 27, 2018

How long will takes for a payment to be made since l have made my application for my payments 5 months ago and nothing happen?

Reply
- finder Customer Care
  
  Joshua
  August 28, 2018
  
  Hi Jerry,
  
  Thanks for getting in touch with finder. I hope all is well with you. :)
  
  If you are referring to your Sunsuper payment, it would be a good idea to ask the company directly. You need to make a follow up as your request might have been overlooked. Checking the status of your request would help you better know what happened to the payment.
  
  I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
  
  Have a wonderful day!
  
  Cheers,
  Joshua
  
  Reply

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Sunsuper Review | Performance, features and fees