Energy Super

Energy Super is a specialist provider of superannuation and account-based pensions for members of the energy industry.

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If you’re considering superannuation with Energy Super, check out what’s available for those aged 30-39 years old, based on a super balance of $55K to $100K. Results are sorted by Star Ratings (high to low). To compare other super funds, visit the Canstar super fund comparison pages.

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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

There are a lot of benefits available to Energy Super members who have a personal super account, including:

  • 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
  • Easy online account access

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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
  • You must be earning at least $450/month before tax from an employer
  • You must either be an employee in the energy industry or be related to an employee in the energy industry.

If you are under the age of 18, but earning more than $450/month before tax, you must be working more than 30 hours per week to qualify for super.

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How to join Energy Super

If you satisfy all of 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 sign up online on its website, or by calling 1300 436 374 (open Mon-Fri between 8.30am and 5 pm).

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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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 your account investment time frames and goals, and your personal risk tolerance for market fluctuations. Learn more about how to choose between different investment options on the Canstar website.

The table above shows the total fee cost per year to have a super account with Energy Super. Compare these fees to the average super fund fees on our database, as it’s important not to let your super be eaten away by fees before you retire.

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.

Be sure to check these nine 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 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 been a public offer fund, which means it now includes spouses and other relatives of employees in the energy industry. It now has 48,000 members and holds over $6 billion in funds under management.

As an industry super fund, Energy Super is a not-for-profit organisation that exists for the benefit of its members. Its goal is to maximise retirement benefits for members who are dedicated to the energy industry. By providing quality superannuation, retirement, education and financial services for members, Energy Super is proud to be one of the lowest cost super funds on the market.

If you’re considering outstanding value superannuation funds, check out the the table below which displays a snapshot of 5-Star superannuation funds on Canstar for Australians aged 30-39 with a super balance of $55k – $100k, sorted by provider name (alphabetically). Use Canstar’s superannuation comparison selector for a wider selection of super funds based on your individual circumstances.

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Energy Super

Canstar Research
Rating:
Award: 4-Star Rated Superannuation

Written by: Regina Collins | Last updated: September 26, 2017