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.

  • MySuper Platinum
  • Infinity Recognised
Fund data valid as of July 31, 2017

Typical Fees

Balance This Fund Industry Average Difference
5k $141 $154 -$13
50k $564 $612 -$48
100k $1,034 $1,127 -$93

Investment Allocation

Intl shares 27.0%
Aus shares 27.0%
Property 8.0%
Alternative 22.0%
Fixed interest 13.0%
Cash 3.0%

Fees & Charges

Administration Fee ($) $94
Administration Fee (%) 0.18%
Investment Fee 0.76%
Switching Fee $0
Exit Fee $35
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

Year Started 1971
Target Market All Industries
Offered to Public? Yes
Fund Type Industry-MySuper

Fund Highlights - provided by MyLife MySuper - MySuper

Trusted financial advice from in-house salaried financial planners
Dedicated service team for members and employers open weekdays to 8pm
Generous insurance with a dedicated MyLife MyInsurance website
Local offices with Superannuation Specialists and Financial Advisers

Investment Option Performance

Asset Allocation Category FYTD FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 Comparison
Balanced 0.21%
  • 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

MyLife MySuper launched as a division of MyLifeMyMoney Superannuation Fund in 2015, with the fund established in 1971 to offer superannuation for the employed and the self-employed. The fund is Infinity Recognised, which is a result of its strong commitment to environmental and social principles.

The fund's MySuper offering comprises a single diversified investment option, the Balanced option. The Balanced option has outperformed the SuperRatings Index over the short and long term. Choice members are provided a choice of a broad range of 'Managed Choice' and 'Build Your Own' options, as well the MyLife MyPortfolio Investment Option providing access to Direct Shares listed on the S&P/ASX 200, a range of Exchange Traded Funds (ETFs) and Term Deposits.

Fees are lower than the industry average across all account balances assessed. No fees are charged for switching investments; however, withdrawal and exit fees apply.

A full suite of insurance cover is offered, with Death, Total & Permanent Disablement (TPD) and Income Protection (IP) insurance cover automatically provided upon joining the fund. Income Protection is available to a maximum of 85% of salary, with benefit payment periods of 5 years, to age 65 or to age 70, and a choice of a 30 day and a 60 day waiting period.

MyLife MySuper provides members with access to a free seminar program, as well as a range of online fact sheets, calculators and educational videos. The fund's secure online facility, MyLife Online, further allows members to view and update account details and perform transactions.