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What the Researchers Say:

An Other rated fund usually has average or below average features and/or performance across a number of assessment areas. These funds frequently have many competitors that offer superior performance and structures in a more efficient environment.
You should contact your financial adviser and/or this fund directly before making an investment decision.

  • Other
Awards
Fund data valid as of March 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
50k $540 $708 -$168
250k $2,500 $3,049 -$549
500k $4,200 $5,778 -$1,578

Investment Allocation

Intl shares 26.5%
Aus shares 26.5%
Property 13.0%
Alternative 15.0%
Fixed interest 14.0%
Cash 5.0%

Fees & Charges

Membership Fee $0
Asset Admin Fee 0.40%
Investment Fee 0.68%
Switching Fee $50
Exit Fee $70.31
Account Size Discount Yes
Employer Size Discount N/A

Fund Features

Financial Planning Service
Health Insurance
Home Loans
Credit Cards
Binding Nominations
Non-lapsing Binding Nominations
Insurance Life Event Increases
Anti-detriment Payments
Long Term Income Protection

About this Fund

Membership 3,237
Total Assets $1,134,361,333
Year Started 2008
Target Market
Offered to Public?
Fund Type Industry-Allocated Pension

Fund Highlights - provided by Electricity Industry Superannuation Scheme - Retirement Income Stream

No information was provided by the fund to SuperRatings, hence a caution rating may be given in areas where a qualitative assessment cannot be made. For available information refer to the fund's PDS.

Fund Rating Snapshot

  • Legend:
  • Excellent
  • Good
  • Average
  • Below Average
  • N/A

Rating Categories Clockwise from top

Performance
Performance is based on the past 5 years for their core balanced option
Investment Choices
Points scored on additional benefits to members ie: Home loans, Credit Cards, Health Insurance, Reverse Mortgage, shopping discounts, anti detriment payments and many others
Investment Processes
Points scored on contribution collection, via cheque, cash, Eftpos, Bpay, direct debit and other features
Small Account Fees
Points scored on the fees and charges based on an account size of $5k
Medium Account Fees
Points scored on the fees and charges based on an account size of $50k
Large Account Fees
Points scored on the fees and charges based on an account size of $100k
Death Insurance
Points scored on premium costs and features for Death Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Death and TPD Insurance
Points scored on premium costs features for Death and TPD Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Income Protection Insurance
Points scored on premium costs features for Income Protection insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max% on monthly salary, waiting days available and other features
Member Services
Points scored on additional benefits offered to members ie Statement frequency and newsletter communications and other features
Administration Services
Points scored on the fund structure ie switching between investments, selecting regular contributions, nominated beneficiary changes, changing insurance options. For Service features like call centre, adviser services reports and many other features.
Financial Advice
Points scored on features in respect to financial advice facilities offered ie, by phone, internet, face to face, cost of scaled advice and others.
Goverance
Points scored on Trustee structure, number of independent directors , renumeration and proxy voting policy and risk

Score Explanation

Excellent: Score of 75%-100%
Premium performer in this area. Well above benchmark.
Good: Score of 51%-74%
Better than most funds. Above benchmark
Average: Score of 26%-50%
Placed close to benchmark
Below average: Score of below 25%
Not quite up to speed. Lower than benchmark.

What the researchers say

The Electricity Industry Superannuation Scheme (EISS) is a non-public offer fund that was established in 1999 for employees in the South Australian electricity industry and their spouses. The Retirement Income Stream was established in 2008 and a minimum initial investment of $30,000 is required to join.

Members are able to access a basic investment menu of 4 options consisting of 3 diversified and a cash option. Historical performance is not available for this product, however the Accumulation division???s Balanced Growth option has outperformed the SuperRatings Index over the shorter term.

Fees are lower than the industry average across all account balances assessed. No fees are charged for establishing an account or regular pension payments, however, fees do apply for lump-sum withdrawals. Members are entitled to 4 free investment switches per year.

Pension flexibility is below average when compared to peers. All pension payments are made fortnightly directly to the member's nominated bank account. Members can nominate a reversionary death beneficiary or choose a binding lump-sum nomination.

EISS provides members with access to financial planning services through Industry Funds Financial Planning and members can view their account details online.


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