Prime Super MySuperInformation shown is for the balanced option.
What the Researchers Say:
An OTHER rated fund usually has average or below average features and/or performance across a number of assessment areas. These funds frequently have many competitors that offer superior performance and structures in a more efficient environment.
You should contact your financial adviser and/or this fund directly before making an investment decision.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$80|
|Administration Fee (%)||0.59%|
|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||Primary Industries (Farming,Timber,Horticulture & Mining)|
|Offered to Public?||Yes|
Fund Highlights - provided by Prime Super MySuper
Investment Option Performance
|Asset Allocation Category||FYTD||FY 2016||FY 2015||FY 2014||FY 2013||FY 2012||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 30/06/2016, 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.
Percentage of Growth Assets
What the researchers say
Established in 1996, Prime Super is a not-for-profit industry super fund dedicated to servicing the retirement needs of rural and regional Australia. In May 2014, Health Industry Plan (HIP), which was a national industry fund catering to those working in health and associated industries, became a division of Prime Super.
Prime Super's MySuper strategy uses its existing diversified Balanced investment option, which is actively managed and has outperformed the SuperRatings Index over the short term and long term. Choice members can also access eight additional diversified and single-sector investment portfolios.
Fees associated with this product are lower than the industry average across small account balances assessed, but become more expensive across medium and large account balances. However, the percentage based administration fee is capped for balances in excess of $100,000. Furthermore, no fees apply for withdrawals or investment switches. Members can access financial planning service on a fee-for-service basis.
MySuper members are entitled to four units of Default Death & TPD cover upon joining the fund through their employer, which can be cancelled within 60 days from the date of the Welcome Letter. Additional Income Protection (IP) insurance is also available, covering up to $30,000 per month, or 85% of salary (including SG contribution). A maximum benefit period of 2 years applies, with a choice of 30, 60 or 90 day waiting periods.
Prime Super's refreshed website is easy to navigate, featuring useful tools for members and employers, as well as a range of educational information relating to retirement. Members can access Trauma insurance and financial planning services through the fund, and can also manage their accounts via MemberOnline at any time. Prime Super has ongoing support for Lifeline and is the sponsor of Awards Australia and Australian Rural Leadership Foundation (ARLF).