Types of Zuper superannuation accounts
Zuper offers two base products :
- Zuper Impact – this is Zuper’s ‘lowest cost option’, which prioritises growth while excluding investments in tobacco and nuclear weapons
- Zuper Impact+ – this option builds on Zuper Impact by also excluding investments in gambling, pornography, alcohol, and fossil fuels
After choosing between Zuper Impact and Zuper Impact+, you’ll have the option to then invest 20% of your portfolio in one or several of Zuper’s three optional portfolios.
- Health – this option allows you to invest part of your super in companies researching and providing health-related products and services
- Green – this option allows you to invest part of your super in clean energy companies researching and developing renewable energy options such as solar energy and wind farms
- Tech – this option allows you to invest part of your super in tech companies like Amazon, Tesla, Google, and Apple
Note that whether you choose one, two, or all of the optional portfolios, only 20% of your total superannuation balance will be invested across your chosen optional portfolios.
Eligibility to join Zuper superannuation
Zuper does not specify any eligibility requirements for their superannuation products, however you may need to be an Australian resident to sign up.
How to join Zuper superannuation
You can join Zuper by visiting their website.
Zuper Superannuation FAQs
Yes, you can manage your Zuper super either online or through the Zuper mobile app.
The money in your Zuper super account is invested by your super fund. The two base investment options and three optional portfolios are outlined above.
When choosing an investment option, it is important to take into your account 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.
Zuper charges two fees on its Zuper Impact investment option – a 0.88% administration fee and a 0.11% indirect cost ratio fee. If you had a $50,000 super balance invested in the Zuper Impact option, you would pay $440 a year in administration fees and $55 a year in indirect costs.
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, Zuper offers a consolidation feature.
It’s important to check with your old super funds for information regarding costs such as exit fees and any insurance cover you may lose if you switch super funds.
Be sure to check these 9 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?
Zuper is a superannuation fintech founded in 2017 and launched in mid-2018, which is aimed at young Australians. The manifesto on its website decries ‘old-world thinking’ in favour of transparent investment options, a simple superannuation product, and the ability to invest your super based on your beliefs and values.