EISS: Superannuation Scheme for Energy Industries


With your superannuation in the hands of EISS you get five managed investment options to meet the stage of your working life.

Members of the EISS super fund have the ability to choose from five different managed investment options, each structured to suit a different stage of life.

With them comes automatic insurance covers and free access to professional financial advice to help you in deciding which products best suit your circumstance.

Compare what EISS is offering you against other wealth management firms to see where your superannuation funds is getting the most benefit.

Why EISS has a good reputation
  • SuperRatings awarded EISS with a gold rating in 2016 or their workplace and personal super funds.
  • EISS’s default investment option, MySuper Balanced, was also given a gold rating by SuperRatings in 2016.
  • The EISS Pension was recognised with a gold rating in 2016 by SuperRatings.
  • The highest 5 star rating was given to EISS by Heron Partnership in 2016.
  • Since 2008, EISS has consistently been awarded with an AAA quality rating from SelectingSuper.

About EISS and what you need to know

The Energy Industries Superannuation Scheme (EISS), or the Scheme, was established in 1997 for the purpose of providing pension and retirement benefits for employees in the New South Wales energy industry.

As a member you can choose to have your funds managed in an established account, or with the direct invest option which gives you access to shares and term deposit accounts. This is a not for profit super fund, designed for employers and employees.

Pension accounts can also be set up to help make your retirement years financially easier.

Back to top

What super funds are offered by EISS?

EISS super funds are competitively priced both for employers and Australian workers. They include automatic insurance covers along with other added benefits like special deals on your travel needs.

In addition to being able to use a direct investment option you are given a choice of five different managed funds that you can grow your superannuation in.

  • High growth. Intended for those who are looking to make the most profit from their superannuation funds over an extended period of time.
  • Diversified. A slightly lower risk managed fund that stills sees a higher growth rate when you stay with it for a number of years.
  • MySuper Balanced. The balanced option is a mix of low and high rate investments gives your superannuation funds a steady rate of return.
  • Capital Guarded. As you move closer to retirement age you might feel more comfortable with this low risk fund that still pays out at a competitive rate.
  • Cash. Your lowest risk choice for your investments also sees the lowest rate of return on your money.

These super funds are designed to meet certain stages in your life and superannuation growth. It is important that you weigh the risks in comparison to what your goals are in order to give your retirement funds the largest boost possible.

What pension accounts are offered by EISS?

EISS provides a simple and convenient way for members to convert the proceeds of your super fund into a steady stream of income that is tax effective.

You can also switch to transition to retirement account if you have reached preservation age but are not ready to leave the workforce. The EISS pension has a number of features to consider as you compare your options in retirement accounts:

  • Competitive fees
  • A choice of five managed investment accounts
  • The chance to manage your own superannuation with access to shares and term deposits
  • Consistent online access to your account
  • Continued support and assistance through their call centre, member communications and seminars
  • Access to professional financial advice and
  • Ancillary benefits that include travel and accommodation deals.

The EISS Pension uses the same managed fund options and fund managers as their super fund accounts. The range of investments is diverse, and includes options in Australian and international equities, private equity, property, fixed income and cash, defensive alternatives and growth alternatives.

Each managed fund is made up of a certain percentage of each option, creating various funds to benefit all working and retired Australians.

Back to top

What to consider before you apply for a EISS super fund

Although initially designed for Australians in the energy industry, EISS super funds are now available for all Australians. If you wish to join EISS Super and you are an employee of an EISS Super employer than they can provide you with the required information to open an account.

For personal account holders you can join by filling in an online application form. The online application will ask you for the following information:

  • Your details. This includes your name, gender and date of birth. You will also need to provide a valid email address.
  • Postal address. A valid postal address inside of Australia is required to open an account.
  • Tax file number. You do not have to supply your tax file number (TFN) but if you don’t any contributions you make may be taxed at a higher rate.
  • Your work details. You will need to pick the most accurate description of your current occupation.

After you have submitted your application online, you will be asked to make an initial contribution into your selected super fund. Once that money has been received and cleared into the account, it will become active and you can begin to make your regular contributions.

Was this content helpful to you? No  Yes

Related Posts

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

Ask a question