Who else wants to be part of a superannuation fund that offers multiple investment alternatives?
Nationwide Superannuation Fund (NSF Super) has provided service for over 25 years. This member-based super fund does not have to divert any of its profits to shareholders, which is why it is able to return benefits to its members in the form of competitive products and low fees. It provides personalised service through its head office in Hunter Valley, NSW.
The trustee of this fund has an Australian Financial Services (AFS) licence from the Australian Securities and Investments Commission and a Registrable Superannuation Entity (RSE) licence issued by the Australian Prudential Regulation Authority (APRA).
In 2015, it was the sponsor of the Hunter TAFE Alumni Awards, covering all three categories that included Contribution to Business, Contribution to Community and Emerging Talent.
- Heron Partnership Super Fund Ratings, 2015/16. NSF Super awarded the highest ‘Five Quality Star Rating’
- Heron Partnership Super Fund Ratings, 2015/16. NSF Super received the Top 10 Insurance Features award.
A closer look at NSF
This superannuation fund engages different service providers and advisers to assist in its management. PSI Superannuation Management administers the fund, Ernst & Young looks after the fund’s internal audit, NAB Asset Servicing functions as the fund’s custodian and the fund turns to Mercer Investments for asset consultancy.
This fund is open to employees of member employers as well as to the general public, through the employer sponsored division and the personal division. There are vital differences in these two divisions which surround aspects such as Death and Total & Permanent Disablement (TPD) insurance, cooling of periods and the requirement to select a default investment option.
What’s Internet banking like for NSF?
MemberAccess refers to NSF’s secure online account management system. This platform lets you manage your contact details; check your balance, account history, contribution and deductions; request benefit quotes; review and update investment options; nominate and manage beneficiary nominations; apply for additional insurance cover; and view annual statements.Back to top
What super funds are offered by NSF?
NSF Super gives you five investment options to choose from. Four see diversification across different asset classes, industry sectors and investment managers.
- NSF MySuper. If you join under the employer sponsored division and don’t make an investment choice, this is the default option where NSF invests your money. It is ideal for people who are looking at moderate levels of return over a medium-term. A significant portion of the investments go towards Australian and global shares, followed by real estate, defensive fixed income, growth fixed income, alternatives and cash. The suggested minimum investment period is seven years. The risk level is medium to high.
- NSF High Growth. Consider investing in this high risk option for at least seven years.It provides diversity in investments with a major chunk going towards Australian and global shares. Other assets classes that this portfolio invests in to some degree include real estate, alternatives and growth fixed income.
- NSF SRI/Ethical. The minimum suggested investment timeframe for this option is seven years. It comes with medium to high risk levels. This portfolio invests in all the asset classes that NSF works with, with a major portion going towards Australian and global shares, which include share funds designated as Socially Responsible Investments (SRI). It also takes into account environmental, social, ethical and labour standards.
- NSF Prudent. This low to medium risk option comes with a suggested minimum investment period of five years. This portfolio aims to provide less volatility and optimal returns. While it offers a spread of investments across all assets classes on offer, a major portion goes towards defensive fixed income.
- NSF Cash. This very low risk option does not come with any suggested minimum investment timeframe. There is no diversity with this option, with all the money going towards term deposits and money market related securities that bear interest.
What pension accounts are offered by NSF?
If you’re looking for a pension account, take a look at what NSF Super Pension has to offer.
- Features. You can open this account with a minimum of $10,000, and no entry fees apply. You have the option of choosing your pension amount, provided it exceeds the government’s minimum limit. You can receive payments on a weekly, fortnightly, monthly, bi-annual or annual basis, credited directly to your bank account. If eligible, you can make lump sum withdrawals.
- Investment options. The investment options of offer are the same as ones you get through the NSF super fund. These include NSF Diversified, NSF High Growth, NSF SRI/Ethical, NSF Prudent and NSF Cash. You can select more than one option as long as the total adds to 100%.
- Cash Top-up. This tailored pension strategy offered by NSF can work well for pension members who wish to meet short-term requirements of cash while investing long-term money in mixed asset classes. In this scenario, an amount that equals the first two years’ of nominated pension payments switches from the default option or your selected investment option to the NSF Cash option. Every year, the fund switches an additional amount to the NSF Cash option as a Cash Top-up, ensuring that it holds an amount equal to two years’ of nominated pension payments in cash. The automatic switches to cash don’t attract any fees.
What you need to know before you apply
You can join NSF Super under the employer sponsored division by submitting an online application. If you are self-employed or unemployed you can download an application from the NSF website, and send the completed form across via mail. You can become a part of NSF Super at different stages in your life:
- At the time of commencing employment.
- When you switch employers.
- When you start planning for retirement.
In addition to the application form, you may have to submit other forms, which include:
- Standard choice form.
- Rollover request form.
To apply, you have to meet some basic eligibility criteria:
- You are a resident of Australia.
- You have a tax file number (TFN).
Completing the application successfully requires that provide different kinds of information:
- Your name, residential address, postal address, email address and phone number.
- Your date of birth.
- Your investment option.
- Details of beneficiaries.
After NSF opens your account and you get access to its online platform, you can make changes to your personal details, details of beneficiaries and investment options at any time.
While the superannuation account on offer by NSF Super can work well for you, other service providers have similar offerings in place, so it’s best that you compare a few.