Plum Superannuation Fund
Types of Plum super accounts
The type of Plum Super account you may be able to join depends on a number of factors, such as if you are an employee of a particular company, such as BHP Billiton or NAB. These employee funds have their own set of accounts. Plum Super also has a MySuper option.
Plum MySuper
Plum MySuper is the main product available to members. MySuper members have access to a range of investment options to meet their needs and preferences, including:
- MySuper Growth Portfolio, for customers aged under 55.
- MySuper Conservative Growth Portfolio, for customers aged over 55
- MySuper Cash Plus Portfolio, for customers aged over 62.
Some of the other features offered by Plum MySuper include:
- TPD, Income Protection Insurance and Death Cover (to eligible members). As with any insurance product, consider checking the cover amount, any exclusions, limitations or other conditions that may apply, as well as the premiums you would be charged before deciding whether it suits your needs
- mobile app available for Apple and Android devices
- MySuper Product Dashboard to compare MySuper options including net return and statement of fees
- a range of education programs for all stages of members’ financial life.
- Plum Super members have access to a variety of lifestyle offers and benefits with Plum Member Benefits.
- Plum Retirement Income, available exclusively to Plum Super members and is a way of converting super into a steady retirement income stream.
For members looking for more variety in their investment options, Plum Super states that the fund offers a range of ‘paths’ which are designed to suit different investor types. These include,
- Path One – Simple Choice. These options are actively managed and broadly diversified across asset classes. Plum Super states that the broad range of investment options could allow new investors a way to access investment portfolios.
- Path Two – Flexible Choice. These options include both actively and passively managed investment options and Plum Super states that these are designed for investors with a basic understanding of investments or those looking for a complete investment solution for an asset class.
- Path Three – Specialist Choice. Plum Super states these options are designed for investors with a strong understanding of investment risks, and generally target specific asset class sectors, eg. small companies.
Types of BHP Super Fund super accounts
To access the investment options open to this restricted super fund, members must log in to Plum’s website. However, Plum gives this general overview of the type of investment options available to members:
- Growth focused: focused on increasing capital but comes with higher volatility, involving the asset classes of shares and property, according to Plum.
- Defensive-focused: designed to generate a stable income with lower volatility, involving the asset classes of fixed income and cash, according to Plum.
How to join Plum Super
Before committing to a particular fund, consider comparing your options with Canstar and checking out our choosing a super fund checklist. You can also read Plum’s product disclosure statement (PDS), which could help you decide whether its product offering is suitable for your needs.
If you decide to join Plum Super you can contact Plum directly via phone or email.
To join Plum Super, you must be an existing member or the spouse of one, or have an account registered through your employer.
Finally, remember to tell your employer that you’ve joined Plum Super. Your employer should give you a Superannuation Standard Choice Form to fill out, sign and return to them.
How to join BHP Super Fund
You can only join the fund if you are an employee of BHP Billiton. If you want to find out more about the BHP Super Fund before signing up, you can request a copy of the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for a BHP Super Fund to help decide whether it is suitable for your needs (this is only available after receiving a log in to Plum’s website, or by requesting one from the super fund over the phone or via email).
During your employment process, BHP Billiton should give you a Superannuation Standard Choice Form to fill out, sign and return to them, which states which super fund you have elected to join.
