NGS: Industry Super Fund for Those Who Serve the Community

Whether you’re looking for a superannuation fund or a pension account, NGS Super has something to offer.

NGS Super began operations in 1988, with eight trustee directors and a solitary employee. Now, this superannuation fund has more than $5 billion in funds under management (FUM). It has offices in New South Wales, Queensland, South Australia, Victoria and Western Australia. NGS Super’s more than 100,000 members include non-government teachers, school staff, customer-owned bank employees, aged care workers and other community workers.

This industry super fund, dedicated to education and community based organisations, operates with the primary aim of benefiting its members. It offers support to its members’ industries as well as they work they do in different ways.

NGS holds an Australian Financial Services Licence (AFSL) from the Australian Securities and Investment Commission (ASIC) as well as a Registrable Superannuation Entity (RSE) licence issued by the Australian Prudential Regulation Authority (APRA).

A closer look at NGS

Since NGS Super is an industry fund it is able to charge low fees. Over the years, this fund grew considerably, merging with others funds such as the Independent Schools Superannuation Trust (ISST), the Catholic Church Staff Superannuation Fund (CCSSF), Cuesuper (Mutual finance sector) and UC Super (Uniting Church employees).

To make sure your super remains aligned with your situation and work, it provides professional development opportunities through various scholarship awards and grants, sponsorship of different industry conferences and events as well as periodical face-to-face forums and workplace visits. It also proactively contacts members over the phone to resolve queries.

While you can choose from a number of investment alternatives through your super, NGS provides suitable pension solutions as well.

What’s online banking like for NGS?

The NGS Super website gives you access to numerous fact sheets, calculators and other tools you can use to plan your super. By logging into the secure section you can make changes to your personal details, investment options and beneficiary details.

What super funds are offered by NGS?

NGS Super lets its members choose from 12 different portfolios, of which seven are pre-mixed.

• Diversified (MySuper). If you don’t select an investment choice, this is where you money goes. This portfolio includes most of the asset classes used by NGS Super, where it gives higher weighting to assets that come with potential for medium to long-term growth. These include asset classes such as shares, property and infrastructure. This option presents medium risk over a period of 10 years, and medium to high risk for five years.

• Defensive. Here, your money goes towards more defensive assets classes such as fixed interest, cash, direct property and defensive alternative funds. Shares and infrastructure also remain in the picture, albeit in small manner. With this option, you’d be looking at low to medium risk over a period of five years, which would increase to low risk for 10 years.
• Balanced. The balanced option aims to provide an even split between assets with defensive characteristics and assets that provide prospect for capital growth. The risk factor for a period of seven years remains medium. For a period of 10 years, the risk becomes low to medium.
• Socially Responsible Diversified. This portfolio aims to capitalise through asset classes that provide potential for medium to long-term growth, which include shares, property and infrastructure. Assets like cash and fixed interest receive noticeably lower weighting. Shares predominantly come from sectors and businesses that rank highly on social, environmental and governance factors. The risk over 10 years remains medium, and changes to low if you’re looking at 20 years or more.
• Indexed Growth. This option aims to provide exposure to asset classes where it sees an available and investible broad market index, by using passive indexing strategies. It does not invest in unlisted assets. The risk remains medium to high for five years, changing to medium for 10 years and low for 20 years.
• High Growth. This portfolio favours assets that present a potential for high returns over the long-term. If you’re looking at investing for a period of five years, the risk level is medium to high. It changes to medium for 10 years and to low for 20 years.
• Shares Plus. Here, your money mainly goes towards investments in shares listed on Australian and international stock exchanges, with some exposure to other assets that offer high levels of potential returns coupled with high risk levels. If you’re investing in this portfolio for around five years, expect high levels of risk. For 10 years it is medium to high, and it changes to low to medium for 20 years.
• Other options. You can also choose from specific assets classes such as cash and term deposits, diversified bonds, property as well as Australian and International shares. Another option is to open an NGS self-managed super fund.

What pension accounts are offered by NGS?

If you’re turning to NGS for a pension account, you get to choose from 14 different options. These include nine pre-mixed options.

• Pre-mixed options. Seven of the pre-mixed options are the same as ones offered through the NGS Super fund. These include diversified, defensive, balanced, socially responsible diversified, indexed growth, high growth and shares plus. The other two include moderate growth, which is the pension default, and income generator.

The moderate growth option provides higher weighting to asset classes that offer potential for medium to long-term growth. It comes with high to medium risk for five years, changing to medium risk for 10 years.

The income generator option focuses on combining income return and capital growth, while also offering protection against risks in the equity market. The risk level for five years is medium, changing to medium to low for 10 years.

• Other options. You can invest your money in sector specific options that include Australian and international shares, cash and term deposits, property as well as diversified bonds. You can also choose to go the self-managed way, where your investment options include term deposits, Australian Securities Exchange (ASX) listed companies and exchange traded funds.

What you need to know before you apply or switch

To become a part of this superannuation fund you have to visit the NGS website and download an application form. Once you complete the form, you can mail it across to NGS Super. You can join NGS Super at different stages of your life, which include:

• Joining the workforce.
• Changing jobs.
• Planning for retirement.

To become an NSG Super member you have to meet some basic eligibility criteria:

• You’re an Australian resident.
• You have a tax file number.

As part of the application process you have to provide different types of information:

1. Your name and contact details.
2. Details about your employment.
3. The investment option you wish to choose.
4. Details of beneficiaries.

After you join, you can register to get access to your account using the NGS online system. This platform lets you check your account balance, select from different investment choices, submit your tax file number, change personal details, change details of beneficiaries and transfer funds from other super accounts.

With the options on offer, NGS is a superannuation provider worthy of your attention. However, since you can find similar offerings through other super providers, compare a few before deciding.