AustSafe Super - MySuperInformation shown is for the balanced option.
What the Researchers Say:
A "good value for money" superannuation fund that is strong in nearly all assessment areas but with average features and/or performance in one or more of our assessment criteria.
You should contact your financial adviser or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$91|
|Administration Fee (%)||0.09%|
|Account Size Discount||No|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||Rural & Regional Industries|
|Offered to Public?||Yes|
Fund Highlights - provided by AustSafe Super - MySuper
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2015||FY 2014||FY 2013||FY 2012||FY 2011||Comparison|
- Outperformed average
- Underperformed average
- Negative returns
Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2015, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.
Benchmark investment information - how performance is measured
To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.
Percentage of Growth Assets
What the researchers say
AustSafe Super was established in 1988 to provide superannuation services to workers in Queensland's rural and regional associated industries. Today the fund has public offer status and membership is open to all Australian residents and is also MySuper authorised.
The fund's default MySuper (Balanced) option is a re-badged version of the Balanced option. A further selection of eight Diversified and Single Sector investment options are offered to choice members. The MySuper (Balanced) option has outperformed the SuperRatings Index over the longer term.
AustSafe Super's fee structure is competitive, with fees lower than the industry average across all account balances assessed. Ongoing fees are low and members are entitled to free investment switches; however withdrawal fees are charged.
Death and TPD cover is available up to a maximum of $3 million, and Income Protection (IP) insurance covers up to 85% of salary with 30, 60 and 90 day waiting periods (up to a maximum of $30,000 per month). Members are required to work a minimum of 15 hours per week to be eligible for IP cover.
Additional financial planning services are provided through Industry Fund Services, with the first consultation free of charge. Members also have access to discounted banking products through ME and discounted health insurance through Australian Unity. The fund regularly conducts free seminars for members and employers, providing updates on superannuation and fund developments.