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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.

  • MySuper Gold
Awards
Fund data valid as of February 28, 2017

Typical Fees

Balance This Fund Industry Average Difference
5k $160 $156 $4
50k $542 $611 -$69
100k $967 $1,123 -$156

Investment Allocation

Intl shares 25.0%
Aus shares 30.0%
Property 10.0%
Alternative 5.0%
Fixed interest 25.0%
Cash 5.0%

Fees & Charges

Administration Fee ($) $117
Administration Fee (%) 0.35%
Investment Fee 0.50%
Switching Fee $0
Exit Fee $75
Account Size Discount Yes
Employer Size Discount Yes

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

Total Assets $23,851,959,000
Year Started 2014
Target Market All Industries
Offered to Public? No
Fund Type Master Trust-MySuper

Fund Highlights - provided by IOOF Employer Super - MySuper

Extensive Investment menu, fee discounts, competitive insurance.
Clearing house facility available to eligible employers.
Online access to update account details, trade in equities and switch managed funds.
Ability to maintain membership regardless of work status.
Dedicated account manager for large employer groups.

Investment Option Performance

Asset Allocation Category FYTD FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 Comparison
Balanced 5.31%
6.60%
4.05%
2.81%
9.34%
9.60%
Fund
Benchmark
  • 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 30/06/2016, 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

IOOF Employer Super is a Division of the IOOF Portfolio Service Superannuation Fund and is a lifetime portable super solution that provides members with extensive choice and flexible features.

The fund's MySuper offering comprises a single diversified investment option, the IOOF Balanced Investor Trust. The IOOF Balanced Investor Trust outperformed the SuperRatings Index over the year to 30 June 2016. Choice members have access to a comprehensive investment menu, including ready-made portfolios, managed funds, direct share and term deposits.

Fees are lower than the industry average across medium and large account balances assessed. Members are able to switch investment options without incurring a switching fee, while an exit fee is applied for full or partial withdrawals.

A full suite of insurance cover is available including Death, Total & Permanent Disablement (TPD) and Income Protection (IP) insurance, with eligible members automatically provided with Default Cover or Customise Cover as nominated by the employer. Income Protection (IP) cover is available up to a maximum of 85 per cent of salary payable, with benefit payment periods of 2 years, 5 years and to age 65 and a choice of waiting periods.

A range of online tools and educational resources are available through the fund's website. IOOF Online allows members to view and updated account details, as well as perform transactions, including switching investments and buying and selling listed and managed investments.


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