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UniSuper | Performance, features and fees
UniSuper is an industry super fund and one of Australia's largest super funds with more than 615,000 members. It offers a range of low-cost, high-performing investment options.
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UniSuper Sustainable High Growth secured the top spot in the high growth category this year. The annual fees for this fund amount to $296 on a $50,000 balance. The fund has delivered impressive high-growth returns, with an annual average of 10.36% over the past 10 years and 8.48% over the past 5 years.
UniSuper performance and fees
When joining the fund you'll be placed in the Balanced option initially, however you can switch to another investment option at any time.
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The information in the table is based on data provided by Zenith CW Pty Ltd, ABN 20 639 121 403 (Chant West) unless indicated otherwise.
*Past performance data is for period ending June 2023 and fee data is updated monthly.
2023 Super funds Customer Satisfaction Awards Highly commended:
Unisuper
UniSuper took second place in our super fund category this year, with 84% of the users that we surveyed saying they'd recommend the super fund provider to a friend. Its customer satisfaction rating was 4.17 out of 5. Find more about Finder Super Funds Satisfaction Awards 2023.
UniSuper Sustainable High Growth claimed the second position in the low fee category. It offers competitive fees of $296 per year on a $50,000 balance. The fund has delivered solid returns, averaging 10.36% annually over the past 10 years and 8.48% annually over the past 5 years.
Key features of UniSuper
High-performing fund. UniSuper has been among the top performing Growth super funds in recent years. Although past performance isn't a reliable indicator of future performance.
Low fees. The Balanced option has lower annual fees in comparison to many other balanced super options in the market.
Originally designed for those working in higher education. UniSuper was originally designed for Australians working in the higher education and research sector, however it is now open to everyone to join.
MySuper product. The UniSuper Balanced investment option is an approved, low-cost, no-frills MySuper option for members.
Seven pre-mixed investment options. Members can choose between seven different pre-mixed investment options that each have a different risk level and asset allocation.
UniSuper pre-mixed investment options
Members can choose between seven pre-mixed, diversified investment options depending on the level of risk you want to take on. If you don't make an investment choice, you'll be placed in the Balanced options, which is UniSuper's default MySuper investment product.
Investment option
Risk level
Target asset allocation
Conservative
This option has the lowest level of investment risk and invests largely in fixed interest and cash. It's designed for members looking to protect their balance, with some growth over the medium term.
Medium
Growth: 33%
Defensive: 67%
Conservative Balanced
This option has an even balance between growth and defensive assets. It's designed for members who aren't comfortable taking on too much risk and who wish to avoid market fluctuations in the short term, while still gaining some level of capital growth.
Medium to High
Growth: 52%
Defensive: 48%
Balanced
This is the default investment option and is designed to suit the majority of members. It has around two thirds of your balance invested in growth assets like Australian and international shares and property.
High
Growth: 72%
Defensive: 28%
Sustainable Balanced
This option has the same high level of exposure to shares as the Balanced option, however the investments are selected on the basis of sustainable investment criteria.
High
Growth: 70%
Defensive: 30%
Growth
This option provides more allocation to growth assets than the Balanced option, and may suit members looking for a bit more exposure to shares. It's designed for members with a longer investment timeframe of at least 10 years.
High
Growth: 86%
Defensive: 14%
High Growth
This option invests entirely in growth assets, with almost 90% of your balance invested in shares. It's the most high-risk investment option available, and aims to achieve higher returns over the long term.
High
Growth: 100%
Sustainable High Growth
This option has the same high level of exposure to shares as the High Growth option, however the investments are selected on the basis of sustainable investment criteria.
High
Growth: 100%
Sector investment options
If you want to be a bit more hands on with your super, you can create your own investment mix by selecting from one or more of the following individual sector options.
Note that these sector options are designed to be mixed together to form a diversified portfolio, rather than invest your whole balance in one individual sector.
Australian bond
Australian Equity Income
Australian Shares
Cash
Global Companies in Asia
Global Environmental Opportunities
International Shares
Listed Property
Diversified Credit Income
UniSuper default insurance cover
Eligible members will receive the following default insurance cover when joining:
Death: This cover provides a lump sum payment to your nominated beneficiaries in the event of your death.
Total and Permanent Disablement (TPD): This cover provides a lump sum payment to you in the event that you become permanently disabled.
You'll get a default level of cover for the above insurances, however you can apply to increase your level of cover at any time if you think it's the right choice for you. You can also opt out of all insurance cover all together.
You can also apply for Income Protection cover at an additional cost to you, which would provide regular payments if you hurt yourself and are unable to work for a period of time.
How to join UniSuper
You can join online by completing the application form on UniSuper's website. The application form should take you around 10-20 minutes to complete, and you'll need to provide the following bits of information:
Your full name, date of birth and contact information
Your Australian residential address
Your phone number and email address
Your tax file number (TFN)
Your chosen investment option (if you want to invest in something other than the Balanced option) and insurance cover
Details of your existing super fund if you'd like to consolidate your super
Once your application has been completed successfully, you'll receive your membership details by email. You can then give these to your employer so they can start paying your superannuation guarantee payments into your new fund.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds.
1) how the new rules from the 1st July apply to the defined benefit fund and the 13% contribution combined with the 3% member contribution applies to a salary of $160,000 = $25,600 (if the member salary sacrifice their 3% this is all concessional; contributions.
2) how does UniSuper calculate the nominal contribution ?
The new super rules represent the most significant changes for our members in several years and also impact UniSuper’s systems and processes.
Given the extent and significance of these changes, UniSuper has formed a Federal Budget Changes project, which will deliver the system and process changes required for compliance with the new legislation. It will also provide change support and training for impacted teams.
Read more about these changes through the UniSuper website.
To know more about how contributions are calculated, please check out UniSuper’s contribution planner on their website.
Please check out the calculators and tools of Unisuper to learn more.
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Can you please advise:
1) how the new rules from the 1st July apply to the defined benefit fund and the 13% contribution combined with the 3% member contribution applies to a salary of $160,000 = $25,600 (if the member salary sacrifice their 3% this is all concessional; contributions.
2) how does UniSuper calculate the nominal contribution ?
Hi John,
Thanks for your inquiry.
The new super rules represent the most significant changes for our members in several years and also impact UniSuper’s systems and processes.
Given the extent and significance of these changes, UniSuper has formed a Federal Budget Changes project, which will deliver the system and process changes required for compliance with the new legislation. It will also provide change support and training for impacted teams.
Read more about these changes through the UniSuper website.
To know more about how contributions are calculated, please check out UniSuper’s contribution planner on their website.
Please check out the calculators and tools of Unisuper to learn more.
Hope this information helped.
Cheers,
Arnold