AustralianSuper Superannuation

About AustralianSuper
AustralianSuper is a provider of personal superannuation products.

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Types of AustralianSuper superannuation accounts

AustralianSuper offers two superannuation products; its standard MySuper offering (for full-time, part-time, and casual employees of any industry), and its Personal Plan (for people self-employed as sole traders or as a partner in a partnership). These products offers:

  • 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.

Eligibility to join AustralianSuper

To apply for an account with AustralianSuper, you must be able to satisfy the following criteria:

  • You must be an Australian resident
  • You must be over 18 years of age

How to join AustralianSuper

If you satisfy all of the above eligibility criteria, then you can apply to join AustralianSuper. You can sign up for a AustralianSuper account by clicking on its products in Canstar’s superannuation comparison tables and then sign up online on their website.

Be sure to compare super funds on the Canstar website and check our choosing a super fund checklist before signing up for a particular superannuation account:

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AustralianSuper FAQs

Yes, AustralianSuper members can manage their super online. You should also be able to view your account balance, access statements for your account and download super fund information.

AustralianSuper offers you three options for deciding how your super is invested:

  • Premixed, a less hands-on option which allows you to simply pick one of AustralianSuper’s pre-mixed investment options for your super to be invested in
  • DIY Mix, which allows you to choose the asset classes you want your super to be invested in, and in what amounts
  • Member Direct, which gives you a great amount of control by allowing you to choose specific S&P/ASX 300 Index stocks, ETFs, and term deposits you’d like your super to be invested in

AustralianSuper charges the same fees on both its MySuper and Personal Plan products:

  • 0.66% investment fee (charged annually and deducted from pre-tax investment returns)
  • $1.50 administration fee (charged weekly)

You can compare AustralianSuper’s fees to the other super fund fees on our database.

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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?
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Yes, AustralianSuper offers a consolidation service for members who have super in other funds.

It’s important to check with your current super fund(s) for information regarding costs such as exit fees and any insurance cover you may lose if you switch super funds.

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.

Source: AustralianSuper

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:

Source: AustralianSuper

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.

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AustralianSuper Personal Super Plan

CANSTAR Research
Rating:
Award: Outstanding Value Superannuation 2018

AustralianSuper Personal Super Plan

View 2018 Canstar Superannuation Star Ratings Report

Written by: James Hurwood | Last updated: November 20, 2018