Spaceship Superannuation

Who owns Spaceship Super?

Spaceship Super is issued by Diversa Trustees Limited as trustee of the Tidswell Master Superannuation Plan, which is a public offer retail super fund. Spaceship Super is a sub-plan of this fund.

How is my super invested with Spaceship Super?

Spaceship Super offers two investment options. At the time of writing, the GrowthX investment option has an asset allocation as follows:

• Australian shares – 25% (range 19-32%)
• International shares – 62% (range 50-75%)
• Australian listed property – 6% (range 0-10%)
• Australian fixed interest – 5% (range  0-10%)
• Cash – 2% (range 0-5%).

The Global Index investment option currently has an asset allocation as follows:

• Australian shares – 10% (range 5-20%)
• International shares – 80% (range 55-90%)
• Australian listed property – 3% (range 0-6%)
• Australian fixed interest – 5% (range  3-8%)
• Cash – 2% (range 0-5%).

When you first join Spaceship Super you must choose between its two investment options – GrowthX or Global Index – but you can switch investment options at any time, according to Spaceship Super.

For more details on each investment option, you can contact Spaceship Super or read the PDS and other documentation on its website.

Does Spaceship offer an ethical investment option?

Spaceship Super says investment managers have their own policy about how much they consider labour standards, and environmental, social and ethical considerations in making investment decisions. At the time of writing, socially responsible investing isn’t a requirement for managers to be appointed.

What fees does Spaceship Super charge?

Spaceship Super charges a variety of fees to its members in return for managing their superannuation savings. At the time of writing, some of its fees include:

• investment fees – 0.196% p.a.
• administration fees – $78 p.a., deducted monthly (waived for members with less than $6,000 in their account on the last day of the month), plus 0.720% p.a.
• buy/sell spread – 0.188% to 0.189% p.a.

Spaceship Super says it doesn’t charge a switching fee or advice fees.

Other fees and charges may apply. Consider checking Spaceship Super’s PDS for details. You can also compare the above fees for Spaceship Super against the annual fees a range of other super funds charge for their default investment option on Canstar’s database.

Who is Spaceship Super suitable for?

Spaceship Super is designed for consumers who are between the ages of 18 and 39 when they first join. Spaceship says more than 80% of its super members are under the age of 40 and seeking high-growth investment options.

What features are not offered by Spaceship Super?

Spaceship Super does not offer life insurance of any kind. Individuals who are considering joining should note that this is unlike many industry and retail super funds, and is a point of difference.

Spaceship Super’s range of investment options could also be considered somewhat limited when compared against the investment options offered by other, more traditional funds. Spaceship does not offer a balanced or conservative investment option, for example, meaning it is likely to be more suitable for younger workers than older ones.

Spaceship Super is not suitable if you are seeking an account-based pension or transition to retirement product.

Can I consolidate my super with Spaceship Super?

Yes, Spaceship 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 and any insurance cover you may lose if you switch super funds.

What should I check on my annual statement from Spaceship Super?

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:

• Are your personal details up-to-date?
• Are your nominated beneficiaries up-to-date?
• Are the super contributions from your employer and/or your voluntary contributions correct?
• Are your investment asset class choices appropriate for your life stage?
• Are you happy with the amount you’re paying in fees?
• Is your insurance still adequate for your needs?
• Have you decided whether to consolidate your super, after checking whether there is insurance or any other benefits attached to the account you may lose and if you’re comfortable to do so?
• The big picture – are you happy with your super fund overall?

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About Spaceship Super

Spaceship Super was founded in 2017 and says its mission is to “enable you to invest in your future, so you can live the life you want to live.” Spaceship has 200,000 customers. Separate to its superannuation offering, the company offers a range of managed fund investment products.