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QSuper Super Funds Review

With competitive fees and an extensive range of investment options, QSuper allows you to tailor your super to suit your needs.

One of the oldest and largest superannuation providers in Australia, QSuper offers a broad range of flexible super solutions. With multiple investment choices available, including tailored lifestage packages and options to suit a wide range of investment goals, QSuper allows you to put a plan in place for your retirement savings.

There’s even a Self Invest option available for customers who want to take control of their super. A competitive fee structure ensures that hidden charges don’t chip away at your balance, while there are no entry fees, exit fees or commissions.

You can also manage your superannuation 24/7 via QSuper’s Member Online portal and there is no fee for switching between investment options. To top it all off, QSuper was named the Fund of the Year at the 2016 and 2017 SuperRatings Awards, making it well worth a look if you’re searching for a new super fund.

A closer look at QSuper

QSuper has been helping Queenslanders reach their retirement goals since 1913 and has grown into one of Australia’s largest super funds. As of 2016 it had a customer base of more than 550,000 and over $65 billion in funds under management. QSuper offers a wide range of Accumulation and Income accounts to help you save for a secure and comfortable retirement.

QSuper customers can manage their super 24 hours a day, 7 days a week via the provider’s Member Online portal. This allows you to check your account balance, consolidate lost super, monitor past transactions, review your investment options and make any necessary switches. You can also view annual statements, make changes to your insurance cover and manage your income account payments.

What are the features of QSuper?

QSuper offers a wide range of benefits to customers, including:

  • Huge range of investment options. As well as eight MySuper investment options tailored to different life stages and super balances, QSuper also offers a range of Ready Made options and Your Choice investment options to allow you to choose an investment strategy that’s right for you. If you want extra control, a Self Invest option combines competitive fees with the chance to take charge of your savings.
  • Insurance. Default insurance cover is offered to all QSuper customers who join as Accumulation Account members. Depending on your circumstances, your default cover may include death cover, total and permanent disability cover, and income protection cover.
  • Education. If you want to learn more about investment strategies and how to manage your super, QSuper offers educational seminars on an extensive range of topics.
  • Financial advice. QSuper members can access tailored financial advice through QInvest. This advice is available online, over the phone or in a face-to-face setting.
  • Money Map. QSuper customers can take advantage of online access to Money Map. This handy service combines your savings, mortgage, super and credit card account information onto an online dashboard to allow you to get a full picture of your financial situation.

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What investment options are available in QSuper?

QSuper offers the choice of the following investment options:

  • QSuper Lifetime. This hands-off investment option automatically changes to match your life stage. There are eight different investment groups in this category, each of which is designed to suit members of a specific age and with a specific Lifetime balance. QSuper reassesses your situation every six months to determine whether you need to be moved into a new Lifetime group.
  • Moderate. A low-risk option with an investment timeframe of more than three years, this pre-mixed option provides short- to medium-term stability and some exposure to growth assets. Its objective is to provide a return of CPI + 2.5% p.a.
  • Balanced. The Balanced option is designed for investors with a timeframe of more than five years, providing exposure to growth assets with the potential to provide higher returns. Its objective is to provide a return of CPI + 3.5% p.a.
  • Socially Responsible. The Socially Responsible investment option is designed for investors with a timeframe of more than five years. It is suited to medium- or long-term investors who care about the impact their investments have on society and the environment. It offers the potential of high returns for those willing to accept fluctuations and aims to provide a return of CPI + 3.5% p.a.
  • Aggressive. Designed for investors who want to access potential high rewards over 10 years or more, the Aggressive option aims to provide a return of CPI + 4.5% p.a.
  • Cash. One of QSuper’s Your Choice investment options, this option is designed for people who want some short-term protection for the money they invest. With a suggested investment timeframe of one year, its objective is to match the return of the Bloomberg AusBond Bank Bill Index.
  • Diversified Bonds. With a minimum investment timeframe of three years and designed for people seeking steady returns, this Your Choice option allows you to choose your desired mix of cash and fixed interest investments. Its objective is to match the return of a 40% Australian and 60% International Diversified Bond Index.
  • International Shares. This Your Choice option is designed for long-term investors hunting for potentially higher returns. Its investment timeframe is more than 10 years and its objective is to match the return of the MSCI World Developed Markets ex-Australia net dividends reinvested accumulation index.
  • Australian Shares. The Your Choice Australian Shares option aims to match the return of the S&P/ASX 200 Accumulation Index. It has a suggested minimum timeframe of more than 10 years and is designed for long-term investors who want higher returns.
  • Self Invest. This direct investment option offers increased control and flexibility, allowing you to invest your balance across shares, term deposits or exchange traded funds. This online option attracts minimal fees and allows you to take charge of your super.

What fees apply to QSuper?

The table below outlines the fees that apply to most QSuper investment options:

Investment optionTotal fee (p.a.)
Lifetime0.49–0.79%
Moderate0.51%
Balanced0.75%
Socially Responsible0.89%
Aggressive0.77%
Cash0.26%
Diversified Bonds0.46%
International Shares0.27%
Australian Shares0.27%

If you choose the Self Invest option, a separate set of fees applies:

FeeValue
Administration fee0.20% p.a.
Access fee$204 p.a. deducted monthly
Cash management fee0.40% p.a. deducted before your return is declared
Brokerage fee
  • $19.50 per trade for trades of up to $10,000
  • $29.50 per trade for trades of $10,001 to $27,500
  • $29.50 plus 0.11% for amounts over $27,500
ETF management feesAmount varies. Deducted by the ETF manager before the return of the underlying ETF investment is declared

How to apply for QSuper

You can become a QSuper member in one of the following ways:

  • Through your employer. If you’re a new customer, your employer will set you up as a QSuper member when you begin your employment.
  • Through your spouse. If your spouse is an existing QSuper member, they can set you up as a member by opening an account for you.
  • Through a family law split. You and your spouse may split up and the balance of any super held by either may need to be split under Family Law. If your spouse is a QSuper member, QSuper will open an Accumulation Account for you.

Did you have these questions about QSuper?

No, QSuper does not charge an exit fee if you choose to move your balance to another super fund.
No, QSuper does not charge a switching fee.
QSuper provides a Transition to Retirement Income Account, which allows you to access some of your super balance while you are still working. Once you retire, you can then open an Income Account to receive regular income payments, while at the same time maintaining the flexibility to access lump sum payments when you need them.
You can review the performance of all of QSuper’s investment options through the provider’s website.
Yes, you can cancel your QSuper automatic insurance cover at any time.
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