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AustralianSuper: A flexible approach to superannuation

Grow your savings with easy investment options so you're ready for retirement.

AustralianSuper is one of Australia's largest industry funds, with over 2 million members and managing over $100 billion in member funds. As an industry super fund, profits are returned back to members, and AustralianSuper couples low fees with solid returns on your investment. In line with government regulations AustralianSuper is an authorised provider of MySuper products.

AustralianSuper also offers a transition to retirement account and a pension account if you’ve already reached your preservation age. If you’re in the market for a new superannuation fund, have a read about AustralianSuper and its accounts first.

A closer look at AustralianSuper

AustralianSuper offers three main investment options, as well as retirement accounts and accounts for transitioning to retirement. The AustralianSuper MySuper fund (the PreMixed balanced option) conforms to government MySuper product guidelines which make it easier to compare superannuation products and ensure you’re covered with the required level of insurance.

You can take advantage of these products as you shift from making contributions to your superannuation fund to drawing a pension in retirement. When you join AustralianSuper, you can opt in to the balanced investment option or make your own choices on how to invest. Depending on what you opt for, there may be varying investment fees.

What’s internet banking like for AustralianSuper?

You can manage your AustralianSuper superannuation investment from the comfort of home using AustralianSuper’s online account management facility. Manage your investment options and insurance policies, review transaction records and more 24/7.

What investment options are offered by AustralianSuper?

There are three main investment opitons: PreMixed, DIY Mix or Member Direct Investment. If you do not select which option you'd prefer, you'll automatically be given the PreMixed, Balanced option which is completely managed for you.

PreMixed Investment option

With this option, the investments are managed for you by AustralianSuper. The PreMixed options offer diversified portfolios across different combinations of asset classes. If you'd like a PreMixed investment option, you can choose from the following strategies. If you don't wish to select a strategy when opening the fund, you'll automatically be given the Balanced investment option.

  • High Growth. Focus on Australian and international shares.
  • Balanced. Wide range of assets including Australian and international shares, infrastructure and property. This is the MySuper Authorised product.
  • Socially Aware. A focus on environmental, social and governance standards
  • Indexed Diversified. Uses indexing strategies to invest in a wide range of assets.
  • Conservative Balanced. Higher allocation to fixed interest and cash.
  • Stable. A higher focus on stability than growth.
  • Capital Guaranteed. Invests with Authorised Deposit-taking Institutions.

DIY Mix Investment Option

You can build your own mix of investment types with one of the DIY Mix investment options. This has a medium hands-on level. You can choose from the following investment choices, as well as one or more PreMixed options:

  • Australian Shares. Companies listed on the ASX.
  • International Shares. Invests in international companies.
  • Property. Australian and overseas properties e.g. shopping centres.
  • Diversified Fixed Interest. Australian and international bonds and loans.
  • Cash. Short-term money market securities and short-term bonds.

Member Direct Investment Option

This option gives you complete control, and enables you to manage your own investments. Super members will need at least $10,000 in their account to choose this option. You can choose to invest in a range of the following:

  • Shares in the S&P/ASX 300 Index
  • Exchange Traded Funds (ETFs)
  • Term Deposits

AustralianSuper MySuper

If you’re working full time, part time or are self employed, you can join AustralianSuper with a no-frills MySuper superannuation account. MySuper is an Australian government initiative designed to make superannuation products easy to compare for Australians. The authorised AustralianSuperMySuper product is the PreMixed, Balanced option. This is also the designated product if you do not select which option you'd prefer.

What are the features of AustralianSuper MySuper?

  • Insurance. You’re automatically covered by AustralianSuper’s generic Death and Total & Permanent Disablement policies when you join. If you join on the Personal Plan or the Jockeys plan you will need to apply for cover, available for members up to the age of 70.
  • Fund performance. The AustralianSuper Balanced option has returned delivered returns of 6.05% p.a. over the past decade (correct as of 30 June 2016).
  • Fees. An investment fee applies based on your choice of investment option. Fees may also apply for financial advice from AustralianSuper.

AustralianSuper Fees

Fees vary between the different investment options. The default PreMixed Balanced option has the following fees:

  • Annual admin fee of $78
  • Annual charge of 0.64% p.a on your account balance for indirect costs

The Members Direct Investment option has the following fees:

  • Annual admin fee of $395
  • Brokerage fee of $15 per transactions less than $5000
  • Brokerage fee of 0.30% per transactions between $5,001 and $10,000
  • Brokerage fee of 0.20% per transaction between $10,001 and $30,000
  • Brokerage fee of 0.16% per transaction between $30,001 and $50,000
  • Brokerage fee of 0.12% per transaction over $50,000

Additional fees including enter and exit fees and advice fees may apply. Be sure to read the Product Disclosure Statement carefully before selecting which fund is right for you.

What pension accounts are offered by AustralianSuper?

AustralianSuper offer the following pension accounts:

  • Transition to retirement account

The AustralianSuper Transition to Retirement Account is designed to pay part of your superannuation pension as a benefit if you're still working once you reach the preservation age. You get a superannuation account and a transition to retirement account when you become an AustralianSuper member. A transition to retirement account gives you taxation benefits when you salary sacrifice your income to your superannuation fund.

  • Choice Income Account

If you’ve reached your preservation age, the AustralianSuper Retirement Income Account can pay you a pension from your superannuation fund while you’re still working. Minimum pension limits are stipulated by the government. You can nominate a beneficiary to receive these funds in the event you pass away.

How do I apply for an AustralianSuper super fund?

You can apply online. It takes less than 15 minutes, although you will need to meet the following eligibility requirements to join AustralianSuper.

  • You’re an Australian resident
  • You’re employed full time, part time or self employed.

As well as your personal and contact information, you’ll also need to provide your Tax File Number (TFN) and your employer’s details.

Am I eligible for an AustralianSuper pension?

You can apply for an AustralianSuper aged pension if you’ve reached your preservation age, and a Choice Income account if you've reached your preservation age and are still working. Ideally you may want a superannuation fund that couples strong investment returns with low fees, and comes with cover options to protect you and your family.

It is important that users check all the terms and conditions carefully before enrolling in any fund. The information mentioned in this article covers key features. However, terms and conditions for enrolment may vary according to your age and benefits.

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