MyLife MySuper - 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 ($)||$94|
|Administration Fee (%)||0.18%|
|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||All Industries|
|Offered to Public?||Yes|
Fund Highlights - provided by MyLife MySuper - 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
MyLife MySuper recently launched as a division of MyLifeMyMoney Superannuation Fund, existing as a well-regarded Industry fund since 1971 prior to renaming in 2015. The fund displays strength across key areas assessed, securing the SuperRatings Platinum rating for 2016.
The existing Balanced option is the default MySuper offering and has outperformed the SuperRatings Index in 2015. For Choice members, the full investment menu covers a total of seven diversified and six single sector options. Self-directed investments and share trading are also made available.
The fee structure is competitive, with fees lower than the industry average across all account balances assessed.
The fund provides tailored insurance offering for its members with a competitive cost structure. Upon joining, members automatically receive Death and Total & Permanent Disability insurance cover, and have the ability to double their cover (subject to conditions) without providing medical evidence. Provision for life events enables members to increase their Death, TPD and IP cover when experiencing a major life event. IP provides up to 85% (including SG) of salary coverage and a maximum of $30,000 per month for members aged to 70.
The fund displays provides quality advice services, which includes online educational content, an extensive seminar menu and workplace programs.