Vision Super

Vision Super is an industry super fund. It has been around for just over 70 years, with membership open to all Australians at any time in their working lives.

Types of Vision Super accounts

vision superVision Super Saver is available to employees of employers who nominate Vision Super as their default fund, or who register their employees as members of Vision Super. It offers 13 investment options, including a balanced growth investment option, five premixed options and eight single sector options. Vision Super Saver members have access to death, TPD and IP insurance cover automatically if eligibility criteria are met, and can also organise additional coverage.

Regardless of the product their super in invested in, Vision Super superannuation account members:

  • may get a potential retirement bonus if transferring a Vision Personal or Vision Super Saver account to an account based pension with the same provider. Terms and conditions apply.
  • have online account access via Vision Online
  • can use the Vision Super Mobile App
  • can top up their super account via BPAY, direct debit or cheque

Vision Super also offers:

  • Pension plans, including the Vision Super Account Based Pension and Vision Super Non-Commutable Account Based Pension
  • Corporate plans, including for Vision Super Saver and Vision Super Saver for the Australian Services Union

How to join Vision Super

Before committing to a particular fund, consider comparing your options with Canstar and checking out our choosing a super fund checklist. You can also read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for a Vision Super product to help you decide whether it may be suitable for your needs.

If you decide to join Vision Super you can sign up via an online form or call the Vision Super member hotline.

Finally, remember to tell your employer you’ve joined Vision Super. Your employer should give you a Superannuation Standard Choice Form to fill out, sign and return to them.

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Vision Super FAQs

Who owns Vision Super?

As an industry super fund, Vision Super is a member-owned, not-for-profit fund, with profits returned to its members.

How is my super invested with Vision Super?

Vision Super offers 13 main investment options at the time of writing

  • Premixed options: Growth, Sustainable balanced, Balanced growth, Balanced, Conservative.
  • Single sector options: Just shares (a mix of Australian and international equities), Innovation and disruption (invests in high potential growth, high risk companies that are disruptive in their industry), Australian equities, International equities, Property, Infrastructure, Diversified bonds, Cash

The default option for superannuation that’s offered by Vision Super is Vision Super Saver. Vision Super says all contributions for new Vision Super Saver members who do not make an investment selection are invested in its default Balanced growth investment option. This is a MySuper product.

You can choose to invest in one option or a combination of options with Vision Super. You can also switch investment options, but some restrictions apply to switching if you have invested in Property and Infrastructure options for a Vision Personal super account. No switching fee applies.

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

Does Vision Super offer an ethical investment option?

Vision Super says its Vision Personal sustainable balanced investment option “specifically seeks to invest in companies that are considered sustainable”. Vision Super is currently divested from tobacco, thermal coal, tar sands and controversial weapons, and partially divested from gas and oil investments. With a focus on corporate engagement, it says it “only divests from products where we don’t believe engagement can reduce harm, or where we believe there is a long-term risk to our members’ money”. It supports the Say on climate change initiative.

What fees does Vision Super charge?

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

  • administration fees and costs
  • investment fees and costs
  • transaction costs

Additionally, Vision Super charges member activity related fees and costs. These can include a buy–sell spread (not applicable at the time of writing, but this may be reintroduced in future) and other fees and costs, such as insurance fees and personal advice fees.

Bear in mind that other fees and costs may apply. Consider checking the relevant Vision Super PDS for details. You can also compare the annual fees for Vision Super’s default investment option to other super funds’ fees on Canstar’s database.

Can I consolidate my super with Vision Super?

Vision Super says you can search for and consolidate your super in three ways: (1) logging into the fund’s online portal, Vision Online, and using the ATO’s SuperMatch service; (2) using its online transform form; or (3) accessing a paper transform form, printing this out and filling it in, and then posting it.

It’s important to check with your current super fund(s) for information regarding any related costs you may incur 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.

What should I check on my annual statement from Vision 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?
  • Is your Tax File Number (TFN) correctly recorded?
  • 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 Vision Super

Vision Super has 85,000 members and $12.3 billion in assets under management as of mid 2021. It has a long history, having been around since 1947.

This content was reviewed as part of our fact-checking process.

Written by: Jacqueline Belesky | Last updated: December 22, 2021