What AustralianSuper Superannuation offers
The inclusions below represent a selection of what is covered. Additional conditions may apply to different features. CANSTAR is not making any suggestion or recommendation to you about this product. Please ensure that you read the product disclosure statement to determine all the current policy options and inclusions for the product you are considering.
AustralianSuper Personal Plan
- 17 managed funds available, including 7 pre-mixed options and 10 single asset class options. Direct investment in Australian shares available.
- Term deposits available.
- Unlimited free investment switches.
- Life insurance, TPD insurance, and income protection insurance available within super.
- Online access to account details.
- Financial advice available over the phone, some at no extra cost.
How to join AustralianSuper
You can sign up for an AustralianSuper account online by clicking on an AustralianSuper fund in the Canstar superannuation comparison tables. AustralianSuper says applying online should only take about 15 minutes.
If you’d rather talk through the process before signing up, contact AustralianSuper:
- Phone: 1300 300 273 (open Mon-Fri)
- Email: Contact Us Form
- Post: GPO Box 1901, Melbourne VIC 3001
Keep our tips in mind for how to choose a super fund, and always read the product disclosure statement (PDS) before you sign up for any superannuation product.
Remember to consider consolidating all of your super savings into one account. Find out how to find your lost super and how to consolidate your super. Before consolidating, check what insurances you have with each fund. Moving super from one fund to another could mean you lose some insurances, some of which you might not have known about but could really find handy if something were to happen to you.
Finally, tell your employer that you’ve joined AustralianSuper. Your employer will give you a choice of super fund form that you will need to sign and return to them.
How do the fees on AustralianSuper compare to other funds?
You can compare AustralianSuper’s fees to the other super fund fees on our database.
Does AustralianSuper offer an ethical investment option?
In 2016, AustralianSuper introduced the Socially Aware super account, which screens out companies from its equity portfolio to avoid investing in fossil fuel reserves or uranium reserves, human rights labour abuses, tobacco, or gender discrimination. (See AustralianSuper FAQs for more detail.)
AustralianSuper also applies environmental, social, and governance investment factors (ESG) when choosing equities, property and infrastructure, and fixed income investments. (See the ESG Integration Policy for more information.)
Find out more about ethical super investment options here. Some ethical super funds screen out companies that harm humans or the environment, while other ethical super funds invest only in companies whose social and corporate responsibility approach makes a positive impact in environmental and social areas. You don’t have to settle for a super fund where money is the bottom line; ask your super fund whether they offer ethical investment options.
How can I track the growth of my AustralianSuper account?
Members can track and manage the growth of their super balance using the AustralianSuper mobile app (available on Apple and Android devices), online on the AustralianSuper website, or in their annual statement.
What should I check on my AustralianSuper statement?
Be sure to check these 9 things on your superannuation statement:
- Personal details are up-to-date
- Nominated beneficiaries are up-to-date
- Tax File Number (TFN) is recorded
- Super contributions from employer and/or your voluntary contributions are correct
- Investment asset class choices are appropriate for your life stage
- Amount paid in fees
- Insurance still adequate
- Super is consolidated, after checking whether there is insurance or any other benefits attached to the account you may lose and you’re comfortable to do so
- The big picture – are you happy with your super fund overall?
When can I access my AustralianSuper?
You can access your super at age 65, but it could be earlier at what’s known as your preservation age, which can be from 55 years up to 60 years depending on what year you were born. To access your super, typically you need to have permanently decided to stop working, or have left an employer after turning 60. Earlier access to your super is possible in certain circumstances, such as:
- If your home is being repossessed
- Cases of severe financial hardship
- On compassionate grounds if you or your dependant is diagnosed with a terminal illness needing palliative care, or if you are temporarily or permanently unable to work or need to work less hours due to a physical or mental medical condition, or if you are disabled and need to modify your home or car to meet your needs, or if you need help to pay for the funeral expenses of a dependant
- If your super balance is less than $200
Can I get the Age Pension as well as AustralianSuper?
You may be able to receive a full or part-pension depending on your level of assets (including super and account-based pension balance) and income (including from any account-based pension you may have and how much income your super is assumed to be able to pay you).
AustralianSuper was formed in 2006 and is one of Australia’s largest industry super funds. A decade later in 2016, more than 2.1 million people trust AustralianSuper with their superannuation.
The free Money 101 Program is run by AustralianSuper online, so anyone can learn more about how super works, how to build your super, and how to make the most of your super during retirement. In fact, AustralianSuper regularly runs advertising campaigns designed to educate the public about important things such as finding and consolidating your lost super and super for young people.
Members of AustralianSuper can benefit from free seminars about how to retire. They can also receive a discount on other financial services such as banking, financial planning advice, health insurance, and mental health programs run by Super Friend.
AustralianSuper’s TV ad campaigns are often highly enjoyable – for example, the “Unfinished Business” series features stories from workers from many diverse backgrounds, such as Hernan:
When it comes to supporting the community, AustralianSuper promotes diversity in the workplace. In fact, they were a WGEA Employer of Choice for Gender Equality in 2016, 2015, and 2014.
As for protecting our environment, AustralianSuper applies ESG (environmental, social, and governance) investment factors when choosing equities, property and infrastructure, and fixed income investments. (See their ESG Integration Policy for more information.) As part of the Investor Group on Climate Change, they make sure their investments reflect their environmental goals and are a signatory to the United Nations Principles of Responsible Investment, receiving the highest possible rating of A+ in 2015.