Types of Equip Super accounts
Equip 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 Equip 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
Eligibility to join Equip Super
To sign up for a superannuation account with Equip 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
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.
How to join Equip Super
If you satisfy all of the above eligibility criteria, then you can apply to join Equip Super. You can sign up for an Equip Super account by clicking on its products in Canstar’s superannuation comparison tables and then sign up online on its website, or call them on 1800 682 626 (open Mon-Fri between 8 am and 6 pm).
Equip Super FAQs
Yes, Equip 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. Access the online portal here.
The money in your Equip Super account is invested by your super fund. It offers a variety of investment options including Australian and overseas shares, property, ethical investments, fixed interest options and more.
When choosing an investment option, it is important to take into account your 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 Equip 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, Equip 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 cover you may lose if you switch super funds. If you have any questions or concerns about the rollover process, give Equip Super a call on 1800 682 626.
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?
Being in operation for the last 85 years, Equip Super is one of Australia’s oldest superannuation funds. Starting out as the Provident Fund of the State Electricity Commission of Victoria, Equip Super was established after a merger in 1998. Growing from its humble beginnings, Equip Super now manages roughly $14 billion in funds.
As an industry super fund, Equip Super is a non-for-profit organisation who exist for the benefit of its members. Its goal is to maximise retirement benefits for members who are dedicated to the electricity industry. By providing quality superannuation, retirement, education and financial services for members, Equip Super is proud to be one of the lowest cost super funds on the market.