For convenience, many funds simply converted an existing default option to a MySuper account, so that members would be automatically included in a MySuper product.

0000067683 00000 n They could have their original default account from their first job and other default accounts for subsequent jobs prior to January 2014. On 20 February 2013, Cbus was the second fund to receive an authority. Inflation has averaged below 2% for much of that period. Therefore, within a MySuper product, it is possible for the standard insurance cover to be replaced by a default insurance strategy tailored to meet the specific requirements of the employees of a particular employer. All fees charged for MySuper products must be able to be included under these standard descriptions. So signed up with plum , as I do keep have an understanding of super tend to keep eye on it. This is well above the average MyFund target return of CPI (a measure of inflation) plus 3.5% over rolling 5-year periods. Since 1 January 2014, unless an employee has chosen another investment option, employers must pay all compulsory SG contributions into approved MySuper accounts, i.e., into super products that have received a MySuper authority. If you are a member of a MySuper fund, you’re not alone.

$23,000 in MySuper Saving for a deposit on an apartment: Ben’s aiming for high growth and is prepared to accept the risks if there are falls in the market, as he intends on investing for a long time. Copyright for this article belongs to SuperGuide Pty Ltd, and cannot be reproduced without express and specific consent. Life cycle strategy – this fund moves your money from growth investments when you're young to more conservative investments when you're older. From your 55th birthday, we’ll gradually replace a portion of the higher growth investments with more defensive investments unt il your 65th birthday. They are designed to be: Retail, industry and corporate funds can all offer MySuper accounts to members in accumulation phase (pre-retirement). The Government announces its decisions on key design aspects of the Stronger Super reforms. Chant West now reports Lifecycle fund returns separately from diversified funds to make it easier to compare like with like. The Australian Prudential Regulation Authority (APRA) fosters competition by publishing fee tables and other statistics.[2]. [13], Australian Prudential Regulation Authority, "MySuper unleashes competition and value", "Sunsuper awarded first MySuper authority", "MySuper a costly distraction | Super Review", https://en.wikipedia.org/w/index.php?title=MySuper&oldid=912069171, Creative Commons Attribution-ShareAlike License. switching fee (limited to cost recovery). AMG Universal Super – AMG MySuper (Public Offer), AMP Superannuation Savings Trust – AMP MySuper No.2 (Public Offer), AMP Superannuation Savings Trust – Brookfield Australia MySuper (Public Offer), AMP Superannuation Savings Trust – CCA MySuper (Public Offer), AMP Superannuation Savings Trust – Macquarie Group MySuper (Public Offer), AMP Superannuation Savings Trust – Woolworths Group MySuper (Public Offer), AMP Superannuation Savings Trust – Anglican National MySuper (Public Offer), AMP Superannuation Savings Trust – Australia Post MySuper (Public Offer), AMP Superannuation Savings Trust – AFLPA & AFL Industry MySuper (Public Offer), Auscoal Superannuation Fund – AUSCOAL Default Lifecycle (Public Offer), Australian Catholic Superannuation and Retirement Fund – MySuper Balanced (Public Offer), Australian Ethical Retail Superannuation Fund – Balanced (accumulation) (Public Offer), Australian Meat Industry Superannuation Trust – AMIST MySuper (Public Offer), AustralianSuper – IBM Superannuation Plan (Non Public Offer), AustralianSuper – Komatsu Superannuation Plan (Public Offer), Austsafe Superannuation Fund – MySuper (Balanced) (Public Offer), AvSuper Fund – AvSuper Growth (MySuper) (Public Offer), Bendigo SmartStart Super (Bendigo MySuper) (Public Offer), Betros Bros Superannuation Fund No 2 – Betros MySuper (Non Public Offer), Boc Gases Superannuation Fund – BOC MySuper (Non Public Offer), Building Unions Superannuation Scheme (Queensland) – BUSSQ MySuper (Public Offer), Catholic Superannuation Fund – MyCatholicSuper (Public Offer), Christian Super – My Ethical Super (Public Offer), Club Plus Superannuation Scheme – Club Plus Super – MySuper (Public Offer), Club Super – Club MySuper (Non Public Offer), Combined Fund – Combined Fund MySuper (Non Public Offer), Commonwealth Essential Super – Commonwealth Essential Super (Public Offer), Concept One The Industry Superannuation Fund – MySuper Balanced (Non Public Offer), Construction & Building Unions Superannuation – Growth (Cbus MySuper) (Public Offer), Duluxgroup Employees Superannuation Fund – Active Balanced (Public Offer), Elphinstone Group Superannuation Fund – Balanced Option (Non Public Offer), EmPlus Superannuation Fund – EmPlus MySuper (Public Offer), Energy Industries Superannuation Scheme-Pool A – MySuper Balanced (Public Offer), equipsuper – Equipsuper MySuper (Public Offer), EquitySuper – MyEquitySuper (Public Offer), First State Superannuation Scheme – First State Super MySuper Lifecycle (Public Offer), First Super – First Super MySuper (Public Offer), Guild Retirement Fund – Guild Retirement Fund (MySuper) (Public Offer), Health Employees Superannuation Trust Australia – Core Pool (Public Offer), Health Industry Plan – HIP MySuper (Non Public Offer), HOSTPLUS Superannuation Fund – Balanced option (Public Offer), IAG & NRMA Superannuation Plan – MySuper (Non Public Offer), Incitec Pivot Employees Superannuation Fund – Active Balanced (Public Offer), Intrust Super Fund – Intrust MySuper (Public Offer), IOOF Portfolio Service Superannuation Fund – IOOF MySuper (Public Offer), Kinetic Superannuation Fund – Kinetic Super – Growth (MySuper) (Public Offer), Labour Union Co-Operative Retirement Fund – MySuper Balanced (Public Offer), Law Employees Superannuation Fund – LESF MySuper (Public Offer), legalsuper – MySuper Growth option (Public Offer), Local Authorities Superannuation Fund – MySuper Balanced Growth (Non Public Offer), Local Government Superannuation Scheme – LGsuper MySuper Lifecycle (Non Public Offer), Local Government Superannuation Scheme – Pool A – MySuper Age-Based Investment Strategy (Public Offer), Lutheran Super – Balanced Option – MySuper Compliant (Non Public Offer), Maritime Super – Moderate investment option (Public Offer), Meat Industry Employees Superannuation Fund – MIESF MySuper (Non Public Offer), Media Super – Balanced investment option (accumulation) (Public Offer), Mercer Super Trust – Mercer WGSP MySuper (Public Offer), Mercer Super Trust – Mercer Santos MySuper (Public Offer), MTAA Superannuation Fund – My AutoSuper (Public Offer), New South Wales Electrical Superannuation Scheme – NESS MySuper (Non Public Offer), NGS Super – Diversified (MySuper) (Public Offer), Perpetual's Select Superannuation Fund – Perpetual MySuper (Public Offer), Plum Superannuation Fund – Plum MySuper (Public Offer), Prime Superannuation Fund – MySuper (Public Offer), Public Sector Superannuation Accumulation Plan – MySuper Balanced (Non Public Offer), Quadrant Superannuation Scheme – Quadrant MyChoices – MySuper Investment Option (Public Offer), Queensland Independent Education & Care Superannuation Trust – QIEC MySuper (Non Public Offer), Rei Super – Trustee Super Balanced Option (Non Public Offer), Retail Employees Superannuation Trust – REST Super (Public Offer), Retirement Wrap – BT Super for Life MySuper; BT Lifetime Employer MySuper (Public Offer), Retirement Wrap – Westpac Group Plan MySuper (Public Offer), Russell Supersolution Master Trust – Russell MySuper (Public Offer), Smartsave 'Member's Choice' Superannuation Master Plan – Smartsave MySuper Blanced (Public Offer), State Public Sector Superannuation Scheme –, Statewide Superannuation Trust – StatewideSuper MySuper (Public Offer), Super Directions Fund – AMP MySuper No.3 (Public Offer), Tasplan Superannuation Fund – Tasplan MySuper (Public Offer), Telstra Superannuation Scheme – Telstra Super MySuper (Public Offer), The Allied Unions Superannuation Trust (Queensland) – My AUST(Q) Super (Non Public Offer), The Bendigo Superannuation Plan – Bendigo MySuper (Public Offer), The Executive Superannuation Fund – MySuper MyLife (Public Offer), The Flexible Benefits Super Fund – FlexibleSuper Active Balanced (Non Public Offer), The Transport Industry Superannuation Fund – TIS MySuper (Non Public Offer), The Universal Super Scheme – MLC MySuper (Public Offer), The Victorian independent schools Superannuation Fund – VISSF Balanced Option (Non Public Offer), Toyota Australia Superannuation Plan – MySuper Growth (Non Public Offer), Toyota Employees Superannuation Trust – MySuper Growth (Non Public Offer), TWU Superannuation Fund – Balanced (MySuper) (Public Offer), Unisuper – UniSuper Balanced (Non Public Offer), United Technologies Corporation Retirement Plan – Balanced (Public Offer), Victorian Superannuation Fund – Growth (MySuper) (Public Offer), WA Local Government Superannuation Plan – MyWASuper (Public Offer), Water Corporation Superannuation Plan – Growth Option (Non Public Offer), Worsley Alumina Superannuation Fund – MySuper WASF Default Option (Non Public Offer), This page was last edited on 23 August 2019, at 01:34. MySuper invests in higher growth investments when you’re younger to give your super more opportunity to grow.

One of the guiding principles behind MySuper was the need for greater transparency, and this is particularly so where fees are involved. The median return for Growth funds since January 2014 (when MySuper was introduced) to January 2019 was 7.3% per year after investment fees and tax. Your email address will not be published. MySuper products are required to offer a standard, default level of life and total and permanent disability (TPD) insurance. The two approaches can result in very different risk and return profiles, especially early and late in your working life. See Section 5 for details of MySuper and go to plum.com. Since that date, any new employer Super Guarantee contributions must be paid into a MySuper product. Given that over 75% of employees stay with their employers’ default fund, it was expected that the majority of employees would be in a MySuper product from that date. 0000068501 00000 n Members of MySuper products are able to opt-out of the insurance, or increase or decrease their insurance cover (if offered by the trustee) without having to leave the MySuper product. 0000033847 00000 n The MySuper Portfolio has been designed those seeking longer-term growth with a diversified approach. However, some big funds are beginning to refine their MySuper lifecycle approach on concerns that lumping people into decade cohorts is too broad. Category: Multisector Aggressive. xref Superannuation and retirement planning information, Home / Super funds / Comparing super funds, February 24, 2019 by Barbara Drury Leave a Comment. 0000002662 00000 n 0000034292 00000 n 0000002523 00000 n Please contact the developer of this form processor to improve this message. 0000101076 00000 n Plum Super provides integrated and innovative super solutions for current and former employees of some of Australia's largest organisations and their eligible spouses.The fund offers an investment menu that is structured to cater for different levels of investment knowledge and experience. %PDF-1.4 %���� {{#message}}{{{message}}}{{/message}}{{^message}}Your submission failed.


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