Energy Super - MySuperInformation shown is for the balanced option.
What the Researchers Say:
A "best value for money" superannuation fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement savings goals.
You should contact your financial adviser or this fund before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$52|
|Administration Fee (%)||0.22%|
|Account Size Discount||Yes|
|Employer Size Discount||No|
|Financial Planning Service|
|Non-lapsing Binding Nominations|
|Insurance Life Event Increases|
|Long Term Income Protection|
About this Fund
|Target Market||Energy Industry|
|Offered to Public?||Yes|
Fund Highlights - provided by Energy 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
Energy Super was established in 2011 as a result of a merger between ESI Super and SPEC Super. The Fund is MySuper authorised and open to public to join regardless of the occupation.
The Fund's default MySuper option commenced on 1 September 2013 and is a rebadged version of the Choice Balanced option. Choice members are able to select from a further 9 investment options, including a Socially Responsible option. The MySuper Option has underperformed the SuperRatings Index over the shorter term.
Energy Super's fee structure is particularly competitive across smaller account balances. An exit fee of $65 is charged to close an account and members receive one free investment switch each financial year.
A full suite of insurance is available for members. Income Protection (IP) insurance provides cover up to 90% of pre-injury income, plus 10% in superannuation contributions for two years and then 85% of income plus a 15% superannuation contribution to age 65. Former members of ESI Super or SPEC Super may have different TPD or IP arrangements.
Energy Super provides in-house financial planning to all members, with the first consultation free of charge. Access to reduced-cost banking products and health insurance is also provided, in addition to the Energy Super Webinar and Seminar series which can be booked online.