What the Researchers Say:

A "reasonable value for money" superannuation fund that is performing well in a number of assessment areas but with average or below average features and/or performance in a number of other areas of our assessment.

You should contact your financial adviser or this fund before making an investment decision.

  • MySuper Silver
Fund data valid as of February 29, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $105 $155 -$50
50k $584 $629 -$45
100k $1,116 $1,160 -$44

Investment Allocation

Intl shares 27.0%
Aus shares 23.0%
Property 4.0%
Alternative 38.0%
Fixed interest 5.0%
Cash 3.0%

Fees & Charges

Administration Fee ($) $52
Administration Fee (%) 0.49%
Investment Fee 0.57%
Switching Fee $0
Exit Fee $67
Account Size Discount No
Employer Size Discount No

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 9,353
Total Assets $767,499,937
Year Started 2013
Target Market Education related sector
Offered to Public? No
Fund Type Industry-MySuper

Fund Highlights - provided by Combined Super - MySuper

Strong emphasis on personal service - no call centre.
Free member and employer seminars.
Very flexible insurance options.
High quality, educational newsletters.
Free clearing house for employers.

Fund Rating Snapshot

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

Rating Categories Clockwise from top

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.
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.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Growth -1.67%
  • Legend:
  • 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.

Option Type Percentage of Growth Assets
min-max %
High Growth 91-100%
Growth 77-90%
Balanced 60-76%
Conservative Balanced 41-59%
Capital Stable 20-40%
Secure 0-19%

What the researchers say

Combined Super was established in 1959 as the Combined Schools Superannuation Fund and is a provider of superannuation and pension products to the private education sector, charities, non-profit groups and associations.

The Fund's MySuper offering comprises a single diversified investment option, Balanced (MySuper), a rebadged version of their preceding default option, the Balanced option. The Balanced (MySuper) option has underperformed the SuperRatings Index over the short and long term.

Combined Super's choice members have access to both Diversified and Single Sector options.

Fees are below the industry average across all account balances assessed. Members are able to switch investment options at no cost; however, an exit fee applies when making lump sum withdrawals.

Combined Super provides members with a full suite of insurance including Death Only cover, Total & Permanent Disablement (TPD) cover and Income Protection (IP) cover. IP cover offers up to a maximum of 85% of pre disability salary, with a 90 day waiting period and benefit periods of 2 years or to age 65. Overleaf premiums are to be used as a guide only, as insurance arrangements are unique to each employer.

A number of additional features are available to members including a free limited advice service, financial planning, regular newsletters and online calculators. Member Access allows members to view and update account details online, as well as, switch investment options.

Other Funds Promoted