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Catholic Super: Offering Superannuation for the Employed and the Self-employed

Invest your superannuation in a fund that is focused on growing your money in a way that best suits you and your family.

Shirley Liu
Shirley Liu

Updated

Fact checked
Catholic Super

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The Catholic Super Fund has been assisting Australians in growing their wealth since 1971. Providing access through employers and structured for the self-employed, this fund is managing close to $7 billion in assets for over 10,000 businesses and 72,000 members.

Members are able to choose from a number of investment options whether that be with a managed fund or one that you build yourself. The level of risk for each product is clearly defined so that you are able to make a choice based on what your goals and needs are.

A range of other services are also available through Catholic Super, including expert financial advice, competitively priced insurance plans and banking products.

Here are some of the awards and honours that Catholic Super has earned.

  • Every year since 2007 Catholic Super has earned a Platinum Performance award from Super Ratings.
  • Super Ratings also recognised Catholic Super in 2014 as a Pension of the Year finalist and Super of the Year finalist.
  • Catholic Super is honoured with a Platinum Pension and Platinum Super from Super Ratings in 2014.
  • The individual product MySuper also received the Platinum award from Super Ratings the same year.

What you need to know about Catholic Super

Catholic Super covers the superannuation needs of almost all Australians, including employers, individuals who are just starting out in the workforce, those who are changing jobs, transitioning to retirement and individuals ready to fully enjoy their post-work years.

This is an industry fund, where all profits earned are returned back to their members in the form of increased interest rates and competitive fees on the super fund products.

Access is given online to all members and employers so that you can always be in charge of how well your superannuation funds perform from your investments.

Online banking means flexibility with your super

Catholic Super’s MyLife Online offers a secure facility where you can access your super fund account at anytime from anywhere. Registering for this service is easy by using your member ID, and once logged in you will be able to use any one of the following features to manage your superannuation:

  • View account details including your balance, contributions, transactions and listed beneficiaries.
  • Provide Catholic Super with your tax file number (TFN).
  • Update or change your personal information.
  • View and apply for insurance covers.
  • Switch your money to different investment options.
  • Consolidate other superannuation funds into your Catholic Super account.
  • View your statements.

If you are a pension member of Catholic Super you will also be able to nominate a drawdown strategy, change payment amounts and frequency and request a lump sum withdrawal from your account using the online platform.

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What super funds are offered by Catholic Super?

For both employer based and personal super funds you are given the opportunity to pick a managed super or to structure your own. There are five different managed supers available, each with their own risk level to think about:

  • Aggressive. High risk with a rate of return of all almost 9% over a five year term.
  • Moderately aggressive. This is still categorised as a high risk level, but the percentage of earnings drops slightly.
  • Balanced. Also known as the default MySuper for those who don’t make an election, this is a medium to high risk choice suitable for managing the superannuation funds of most Australians.
  • Conservative balanced. This managed fund is fairly new to Catholic Super and is already showing a positive rate of return that is in line with their other funds.
  • Moderately conservative. The ideal fund to invest in when you are getting closer to the age of preservation for its lower risk level.
  • Conservative. For when you are more concerned with conserving your superannuation funds for retirement then you are with growing them.

If you prefer to structure your own super fund, Catholic Super provides investment opportunities in Australian and overseas stocks and shares, property, diversified fixed interest products, term deposits and cash.

The average rate of return for each one is displayed to help you choose, however it is always important to remember that past performance is not necessarily an indicator of future gains.

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What pension accounts are offered by Catholic Super?

Australians who are at retirement age will find it easy to roll their super fund into a pension account that gives you a regular income in intervals that you choose. Your money still continues to grow in a low risk fund at a competitive price.

You can opt for a RetireStable account or try for higher returns on your continued investment with the RetirePlus. Financial experts of Catholic Super will help in structuring your retirement to give you the tax benefits provided by the government to those Australians who are receiving a pension.

If you are still working after having reached preservation age, you can invest your superannuation in the Pre-retirement pension fund. Personal and employer contributions can still be made into this account, but you also can set up access in the form of pension payments.

There are few fees associated with this product, and your investment earnings will be free of any taxation.

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The application process if you’d like to apply for Catholic Super

Membership to Catholic Super is open to anyone, and their online application should take less than five minutes to complete. There are six steps to take in order to begin seeing a return on your superannuation through this fund:

  1. Learn about Catholic Super. Take the time to learn about the different products offered by Catholic Super and compare the various features against other super service providers to ensure that the super you choose is right for your goals.
  2. Create an account. When completing the online application you will be asked for your contact information, TFN, and employment details. On the form you will also be asked to elect your investment strategy and insurance covers.
  3. Membership details. Your member number and account details will be sent to you via email.
  4. Employer contributions. If you are applying for an individual super and your employer is not already a member of Catholic Super you will need to provide them with some paperwork so that your contributions from your work are paid directly into the account.
  5. Consolidate. You can consolidate any other super funds you might have into this one to help you keep better track of your earnings.
  6. Access your account. Once you have your member number you will set up your online account to monitor your account.

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