StatewideSuper MySuperInformation shown is for the growth 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 ($)||$78|
|Administration Fee (%)||0.06%|
|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 StatewideSuper 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
StatewideSuper was initially established in 1986 for the benefit of South Australian workers; however, it is now open to the public. StatewideSuper 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, MySuper. While limited performance history is currently available, the MySuper option has outperformed the SuperRatings Index over the 3 years to 30 June 2016. Choice members have access to both Diversified and Single Sector options.
Fees are lower than the industry average across all account balances assessed. Members are entitled to one free investment switch per financial year, while an exit fee is charged for full and partial withdrawals.
StatewideSuper provides a full suite of insurance cover, with eligible members automatically provided with a basic level of insurance cover upon joining the fund, including Death, Total & Permanent Disablement (TPD) and Income Protection (IP) insurance cover. Income Protection is available with a maximum of 85% of salary with benefit payment periods of 2 years or to age 65 and a 45 day waiting periods. The non-standard IP waiting period of 45 days prevents the premiums from being displayed overleaf.
A great range of additional benefits are provided to members including discounted financial planning services, comprehensive banking products through ME Bank, discounted health insurance, as well as special offers through the StatewideSuper Advantage Program. Statewide.On.Line further allows members to view and update account details.