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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.

  • Gold
Awards
Fund data valid as of February 29, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $281 $155 $126
50k $1,174 $629 $545
100k $2,165 $1,160 $1,005

Investment Allocation

Intl shares 25.0%
Aus shares 30.0%
Property 10.0%
Alternative 10.0%
Fixed interest 22.0%
Cash 3.0%

Fees & Charges

Administration Fee ($) $182
Administration Fee (%) 0.93%
Investment Fee 1.05%
Switching Fee $0
Exit Fee $75
Account Size Discount Yes
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 373,793
Total Assets $16,718,120,000
Year Started 1996
Target Market All Industries
Offered to Public? No
Fund Type Master Trust-Personal

Fund Highlights - provided by IOOF Employer Super - Personal Division

Extensive Investment menu. Competitive insurance offering.
Ability to contribute via BPAY, cheque or direct debit.
Online access to account details via the Spectrum Super website including the ability to update personal details, trade in equities and switch managed funds.

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.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced -0.84%
-1.60%
9.28%
9.60%
11.54%
12.66%
15.27%
14.73%
-3.51%
0.45%
7.29%
8.71%
Fund
Benchmark
Conservative Balance -0.93%
-0.71%
7.11%
7.28%
8.59%
9.64%
10.69%
11.26%
-1.01%
1.87%
6.49%
7.70%
Fund
Benchmark
Secure 0.72%
-0.71%
1.69%
7.28%
2.17%
9.64%
3.09%
11.26%
3.03%
1.87%
3.92%
7.70%
Fund
Benchmark
Growth -1.44%
-2.51%
11.18%
10.71%
14.23%
14.01%
16.78%
17.11%
-6.82%
-0.95%
6.77%
9.40%
Fund
Benchmark
Australian Shares -4.17%
-5.16%
3.95%
5.70%
18.23%
16.77%
16.98%
21.07%
-8.30%
-6.15%
8.21%
11.00%
Fund
Benchmark
Overseas Shares -2.27%
-5.46%
18.99%
19.16%
16.14%
17.63%
24.91%
26.14%
-7.33%
-2.45%
2.84%
5.86%
Fund
Benchmark
Capital Stable 0.00%
0.46%
4.99%
5.66%
6.35%
7.34%
7.88%
8.29%
1.55%
4.06%
5.87%
6.70%
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 30/06/2015, 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

The Personal Division of IOOF Employer Super is one of the largest corporate super Master Trusts in Australia. IOOF Employer Super is an all-in-one, lifetime portable super solution that provides members with extensive choice and flexible features.

Members have access to a comprehensive investment menu that provides over 90 options including ready-made portfolios, externally managed funds, direct shares, fixed and variable interest rate options. The MultiMix Balanced Growth option underperformed the SuperRatings Index in 2015 and over the long term.

The fee structure is costly for all account balances assessed, although reduced administration fees on account balances exceeding $250,000 do apply. Unlimited investment switches are also available, however exit fees apply.

A full suite of insurance cover is available; including Death, TPD and Income Protection (IP) cover. Members working a minimum of 15 hours per week are eligible for IP cover, while unlimited Death cover is open to members up to age 75. IP benefits are paid over 2 years, 5 years or to age 65, providing 85% salary coverage with a choice of 3 waiting periods.

The IOOF Employer Super website allows members and employers to view and update their account details. Members also have access to online transactions, which include direct share trading and investment switches.


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