Looking for a super fund that comes with multiple investment options? Here’s what Sunsuper has to offer.
Sunsuper is amongst the largest and most highly rated profit-for-members super funds in Australia, having offered superannuation solutions since 1987. It now has more than one million members and services over 90,000 employers. Sunsuper has more than 600 employees, spread across offices in Brisbane, Melbourne, Sydney and Perth.
The Dreams for a Better World initiative by Sunsuper aims at giving back to the community. Since 2011, close to 60 not-for-profit groups and charities have benefitted through this programme. Sunsuper has been a major sponsor of the annually held Sunsuper Riverfire, Brisbane’s largest free community event. It is also an official sponsor of A Day on the Green, a summer music festival held at wineries across Australia.
Sunsuper has authorisation from the Australian Prudential Regulation Authority (APRA) to offer its MySuper product, Sunsuper for life.
- Chant West Awards, 2013, 2014 and 2015. Received Best Fund - Member Services Award.
- Conexus Financial Awards, 2015. Awarded Fund of the Year - Member Engagement.
- SuperRatings. 10 Year Platinum Performance 2005-2015.
A closer look at Sunsuper to help you decide if it’s right for you
Sunsuper boasts of a successful track record, with its fund consistently outperforming industry average returns over longer terms. Its balanced portfolio has outperformed industry averages over one, three, five, seven and 10 years.
Since this is a profit-for-members fund, it does not have any shareholders eating into its profits. This translates into lower fees for you.
The diversity that comes with the Sunsuper portfolio is in place to ride out high and lows over the long term, while aiming to provide strong investment returns. You get to choose from an array of investment alternatives, which include going with the Lifecycle Investment Strategy.
What’s internet banking like for Sunsuper?
You can register for the Sunsuper Member Online platform using its website. Once you get access to this platform you can use it to view your account balance, review transaction history, make changes in your investment options and update details of beneficiaries.Back to top
What super funds are offered by Sunsuper?
As a Sunsuper for life member you get to choose from multiple investment options which include the Lifecycle Investment Strategy as well as diversified and single asset class alternatives.
- Lifecycle Investment Strategy. Here, Sunsuper does all the hard work for you, with the aim to generate wealth over a long term. The balance in your account moves across different investment pools, based on your life stage. While all your money remains in the balanced pool until you turn 55, a transition to retirement and cash pools begins after this stage. This option is ideal for people who wish to build wealth over time, while transitioning to low risk options as they age.
- Conservative. This option is best suited for people who are looking at minimal volatility while maintaining some exposure to growth. This short-term alternative comes with low to medium risk.
- Retirement. If you’re close to reaching retirement or have retired, this option can work well for you. It aims to minimise fluctuations of short-term returns while also generating wealth over a medium to long term. This option comes with medium risk.
- Balanced. If you’re looking at potential returns over a long-term in line with the relative performance of other prominent super funds in the country, you can consider going the balanced way. The risk level it comes with is medium to high.
- Growth. If you don’t mind going through some ups and downs in short-term returns to generate high long-term returns, the growth option can work in your favour. While it comes with a high level of risk, it offers lesser risk when compared to investing only in shares.
- Single asset classes. Sunsuper lets you invest your money in a number of single asset classes such as Australian shares, international shares, property, fixed interest and cash. It also offers capital guaranteed as well as ethical, environmental and socially responsible investments.
What pension accounts are offered by Sunsuper?
If you’re looking at receiving a steady stream of income after you retire, you can consider opening a Sunsuper pension account.
- Tax and other benefits. After you turn 60, pension payments you receive don’t attract any tax. Income you receive from investments does not attract tax. You can also benefit through special treatment for Department of Veterans’ Affairs (DVA) and social security payments.
- Pension payments. You have a say in how much you receive as pension payments every year, as long as the amount exceeds the minimum threshold put forth by the government.You also have the option of deciding how often you receive your payments. There is no maximum limit to how much you can withdraw, and you can make lump sum withdrawals at any time.
- Investment options. If you wish to leave the hard work to the professionals, simply opt for the Today and Tomorrow strategy that amends your investments as per your changing life cycle. Alternatively, you can choose to invest your money on your own, in one or more diversified or single asset class options.
Simple steps to apply for Sunsuper super funds
You can join Sunsuper as an individual member by applying online. The process should take no more than five to 10 minutes. You can join this super fund at different stages of your life.
- When you begin working
- When you switch employers
- When you start planning for retirement
Becoming a Sunsuper member requires that you meet some basic eligibility criteria.
- You are a resident of Australia
- To apply online, you should be over 18 years of age
Completing the application successfully requires that you provide different kinds of information.
- Personal details such as your name, phone number, residential address and email address
- Your tax file number
- Details about beneficiaries
- Details about employment
- Desired investment options
- Details about any desired rollovers from other super funds
After you become a member and get access to the Sunsuper online platform, you can use it to change your personal details, beneficiary details as well as investment options.
While Sunsuper provides multiple investment options through its super and pension solutions, so do other providers of superannuation. As a result, make sure you compare a few before deciding.