VicSuper: Performance, investments and fees
VicSuper is a profit-for-members superannuation fund all Australians can join. It offers a simple selection of investment options, including a top-performing MySuper product.
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VicSuper performance and fees
When joining the fund you'll be placed in the VicSuper Growth option initially which is the default option, however you can switch to another investment option at any time.
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Key features of VicSuper
- Protit-for-members fund. VicSuper is a profit-for-members fund, meaning profits go back into the fund to benefit members.
- Part of Aware Super. VicSuper merged with AwareSuper to form Australia's second largest super fund.
- Open to everyone. VicSuper is originally designed for Victorian workers, but is now open for everyone to everyone to join.
- Default insurance options. Eligible members will get default insurance cover when joining the fund with no medical exams.
- MySuper product. The VicSuper Growth investment option is the default investment option for all members when joining the fund, unless you choose otherwise.
- Pre-mixed investment options. Members can choose between a small range of different pre-mixed investment options that each have a different risk level and asset allocation.
- Ethical option. One of the pre-mixed investment options, Socially Conscious, has an ethical investment focus.
VicSuper pre-mixed investment options
Members can choose between these 7 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 MySuper Balanced option, which is the default MySuper investment product designed to suit most members.
| Investment option | Risk level | Target asset allocation |
|---|---|---|
| Capital Secure This option has the lowest allocation to growth assets, and invests heavily in cash and fixed income. 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. | Low |
|
| Capital Stable This option has a slightly higher risk level than the Capital Secure option, with about 40% your balance invested in growth assets (compared to 25% with the previous option). | Low to Medium |
|
| Balanced This option, as the name suggests, aims for a balance between growth and defensive assets. It's designed for members with an investment time frame of at least 5 years. | Medium |
|
| Socially Conscious This option has the same allocation to growth and defensive assets as the default MySuper option (VicSuper Growth) and therefore the same risk level. However, this option considers investments that focus on managing sustainability and environmental, social, and governance (ESG) risks. This fund is certified by Responsible Investment Association Australasia (RIAA). | High |
|
| Growth (MySuper) This option is the default investment fund for all members when joining the fund, and is therefore designed to suit most members. It has around 75% allocation to growth assets, in particular to shares, and aims for better returns over the medium to long term. | High |
|
| Equity Growth This option provides more allocation to growth assets than all the previous options, and may suit members looking for more exposure to shares. It's designed for members with a longer investment timeframe of at least 10 years, or members with a higher risk tolerance. Only around 10% of your balance is invested in defensive assets. | High |
|
Sector investment options
If you want more control over super, you can put together your own investment mix using one or more of the following individual sector options.
- Australian Shares
- Term Deposit
- Cash
VicSuper 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.
- Income Protection: This cover is paid out in the even you can't work and lose your income.
You'll get a default, basic 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.
How to join VicSuper
You can join online by completing the application form on VicSuper's website. The application form should take you around 10-15 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 MySuper 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.
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