Future Super

future super logo

Future Super is a retail superannuation fund. It does not invest in fossil fuels or companies that it says create harm. Instead, it positively invests in companies that meet its sustainable and ethical criteria.

Types of Future Super superannuation accounts

Future Super offers one main superannuation product. Members can choose between three ‘pre-mixed’ investment options: Balanced Index, Balanced Impact and Renewables Plus Growth. All three options exclude fossil fuel investment and are subject to an ethical screening process.

Some of the other features offered by Future Super include:

  • Death cover, total and permanent disablement (TPD) cover and income protection cover are available within super, subject to eligibility requirements (as with any insurance product, consider checking the cover amount, any exclusions, limits or other conditions that apply, as well as the premiums you would be charged before deciding whether it suits your needs)
  • Online access that allows you to monitor your super balance and make changes to your account

How to join Future Super

Before committing to a particular fund, consider comparing your options with Canstar and checking out our choosing a super fund checklist.

Compare Superannuation

If you decide to join Future Super, you can open an account by completing an online application form. You can also join over the phone.

Future Super says to have your tax file number and your mobile phone handy. The application should only take a few minutes to complete, according to Future Super.

Future Super FAQs

Yes, Future Super says you can monitor your superannuation balance and make changes to your account, such as switching your investment option, through its online member portal. You can also access your annual member statement through the online member portal.

Future Super says it uses an ethical screening process when investing its members’ super. This involves not investing in companies and industries that it says creates harm (such as fossil fuels, gambling and tobacco) and positively investing in companies that perform against its sustainable and ethical criteria (such as renewable energy, recycling and healthcare and wellbeing companies). Future Super says its investment philosophy is built on the view that companies that are better at looking after people and the environment are also likely to perform better over the long term.

Future Super offers three options for how your super is invested. These aim to have a diversified investment strategy and are split between growth assets such as shares and defensive assets such as cash and fixed interest.

  • Balance Index: 70/30 split between growth and defensive assets
  • Balanced Impact: 65/35 split between growth and defensive assets
  • Renewables Plus Growth: 75/25 split between growth and defensive assets

Future Super says these are all “high” risk investment options – based on the estimated number of negative annual returns over any 20-year period.

Separately, Future Super also offers a Pension Fund.

According to Future Super, the fees it charges can include:

  • Investment fees
  • Administration fees
  • Buy/sell spread (the transaction cost every time units are bought or sold in a fund)
  • Switching fee
  • Indirect cost ratio (an estimate based on the investment-related costs)
  • Indirect costs for the superannuation product

Future Super says each of its investment options have different fees and other fees may apply. You can find out more information about the fees that apply by reading Future Super’s product disclosure statement (PDS). You can also compare Future Super’s fees to the other super fund fees on Canstar’s database.

Compare Superannuation

To help you stay on top of your super, it may be beneficial to check your regular super statement closely. Here are some of the factors that could be worth paying attention to:

  • 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?

Compare Superannuation

Future Super says you may be able to combine your super into your Future Super account online through its Member Portal. Alternatively, you can download a paper rollover form from the Member Portal.

You can also consolidate your super through the ATO via the myGov website (and learn more about myGov if you’d like to).

It’s important to check with your current super fund(s) for information regarding any related costs and any insurance cover you may lose if you switch super funds. Also consider whether consolidating your super is a suitable decision for your life stage and retirement goals.

Future Super was established in September 2014 with the goal of creating an ethical, diversified portfolio that completely excludes fossil fuels. Today, it says it offers funds with zero exposure to fossil fuels, negative carbon footprints and direct investments in clean energy projects. It currently manages almost $900 million in superannuation assets.

This article was reviewed by our Sub Editor Jacqueline Belesky before it was updated as part of our fact-checking process.

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Written by: Tamika Seeto | Last updated: October 13, 2020