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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 June 30, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $139 $157 -$18
50k $566 $631 -$65
100k $1,041 $1,164 -$123

Investment Allocation

Intl shares 25.0%
Aus shares 26.0%
Property 12.0%
Alternative 25.0%
Fixed interest 9.0%
Cash 3.0%

Fees & Charges

Administration Fee ($) $91
Administration Fee (%) 0.30%
Investment Fee 0.65%
Switching Fee $20
Exit Fee $55
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

Membership 26,171
Total Assets $1,248,584,580
Year Started 2013
Target Market Education and Care Industries
Offered to Public? No
Fund Type Industry-MySuper

Fund Highlights - provided by QIEC Super - MySuper

Access to competitively priced home loans, credit cards, personal loans and savings accounts.
Suite of insurance on offer - Death Only, Death and Total & Permanent Disablement and Income Protection.
Income Protection offered to a maximum of 95% of pre disability income for members aged 64 or under.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 2.87%
2.81%
2.87%
2.81%
9.57%
9.60%
12.01%
12.66%
16.10%
14.73%
-0.36%
0.45%
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

QIEC Super was established in 1988 for people working in the non-government education, child and other care and community services sector in Queensland.

The Fund's MySuper offering comprises a single diversified investment option, QIEC MySuper, a rebadged version of their preceding default option, the Balanced Growth option. The QIEC MySuper option has underperformed the SuperRatings index over the short and long term.

QIEC Super's choice members have access to both Diversified and Single Sector options.

The fund's fees are lower than the industry average across all account balances assessed. Members are entitled to 1 free investment switch each financial year, while an exit fee applies when deducting a lump sum payment.

QIEC Super provides a full suite of insurance cover, with all new members automatically receiving 1 unit each of Death and TPD cover and 4 units of IP cover. IP is offered to a maximum of 95% of pre disability income for members aged 64 or under, with a choice of 5 year or up to age 67 benefit payment periods. IP premiums shown overleaf are based on a 5 year benefit payment period.

QIEC Super offers YourSuperFuture, a free online super advice tool enabling members to obtain single issue financial advice. Through QIEC Financial Planning, the fund also offers members full financial planning advice, including a comprehensive personal financial plan, based on a fee-for-service model.


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