VicSuper Superannuation

VicSuper logo

VicSuper is a specialist provider of superannuation, insurance and account-based pension products.

Types of VicSuper accounts

VicSuper 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 VicSuper members who have a personal super account, including:

  • Competitive investment performance
  • Flexible investment options
  • Low cost and transparent 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
  • Not-for-profit industry super fund

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Eligibility to join VicSuper

To sign up for a superannuation account with VicSuper, 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.

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How to join VicSuper

If you satisfy all of the above eligibility criteria, then you can apply to join VicSuper. You can sign up for a VicSuper account by clicking on its products in Canstar’s superannuation comparison tables and then sign up online on their website.

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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Vic Super FAQs

Yes, VicSuper 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 VicSuper account is invested by your super fund. It offers a variety of investment options including pre-mixed, sector and direct investment options, which ensures the money goes back into your industry.

When choosing an investment option, it is important to take into account your investment timeframes and goals, and your personal risk tolerance for market fluctuations. Learn more about how to choose between different investment options on the Canstar website.

Yes, VicSuper 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, contact VicSuper.

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?

Established in 1994, VicSuper was originally a Victorian public sector fund to administer the superannuation benefits of Victorian public servants. While it still caters to this demographic, it is now an ‘open’ super fund, which means anyone, regardless of occupation or location, can still enjoy the great member benefits.

VicSuper is a profit-to-member fund that exists only for the benefit of members. It’s goal is to assist in maximising retirement incomes for members by providing quality superannuation, retirement, education and financial services.

VicSuper also runs a financial literacy program to help deliver financial advice and education in the community. Some of its community-focused initiatives are targeted at specific groups including women, Millennials, Gen Y, pre-retirees and much more.

Written by: Regina Collins | Last updated: October 24, 2017