QIEC Super - MySuperInformation shown is for the balanced option.
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.
|Balance||This Fund||Industry Average||Difference|
Fees & Charges
|Administration Fee ($)||$91|
|Administration Fee (%)||0.30%|
|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||Education and Care Industries|
|Offered to Public?||No|
Fund Highlights - provided by QIEC Super - 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
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.