Types of Energy Super accounts
Energy Super offers three retirement-related products to choose from:
- Corporate super arranged by an employer for their employees to use
- Personal super available for individual employees
- Account-based pension converts superannuation into regular income payments for retirees and workers in the transition to retirement (TTR) stage
Some of the benefits advertised by Energy Super as being available to its members who have a personal super account include:
- Not-for-profit (all profits returned to, or for the benefit of members)
- Competitive investment performance
- Flexible investment options
- No establishment fees and low administration fees
- Insurance in super available for death cover (life insurance), and total and permanent disability (TPD) cover
- Over-the-phone financial advice available
- Online account access
Eligibility to join Energy Super
To sign up for a superannuation account with Energy Super, 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 Energy Super
If you satisfy the above eligibility criteria, then you can apply to join Energy Super. You can sign up for an Energy Super account by clicking on its products in Canstar’s superannuation comparison tables and then signing up online on its website, or by calling 1300 436 374 (open Mon-Fri between 8am and 6pm).
Energy Super FAQs
Yes, Energy Super has a dedicated online portal for its super fund members. You can view your account balance online, access statements for your account, download super fund information and more.
The money in your Energy Super account is invested by your super fund. It offers a variety of investment options including pre-mixed, sector and direct investments.
When choosing an investment option, it is important to take into account investment time frames and goals, and your personal risk tolerance for market fluctuations.
Yes, Energy Super offers a consolidation service for members who have super in other funds.
It’s important to check with your old super funds for information regarding costs such as exit fees and insurance coverage you may lose if you switch super funds. If you have any questions or concerns about the rollover process, give Energy Super a call on 1300 436 374.
You may want to consider checking the the details on your superannuation statement, including:
- 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 for the year is not too high
- Insurance in super is still adequate coverage for your needs
- 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?
Energy Super used to be a super fund for the sole benefit of employees in the energy industry, but has since become a public offer fund. It now has over 47,000 members and holds over $7 billion in funds under management.