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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
  • Rising Star Finalist
  • Infinity Recognised
Awards
Fund data valid as of June 30, 2017

Typical Fees

Balance This Fund Industry Average Difference
5k $117 $152 -$35
50k $468 $598 -$130
100k $858 $1,099 -$241

Investment Allocation

Intl shares 25.0%
Aus shares 31.0%
Property 10.0%
Alternative 17.0%
Fixed interest 11.0%
Cash 6.0%

Fees & Charges

Administration Fee ($) $78
Administration Fee (%) 0.06%
Investment Fee 0.72%
Switching Fee $20
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

Membership 142,705
Total Assets $7,384,303,739
Year Started 2013
Target Market All industries
Offered to Public? Yes
Fund Type Industry-MySuper

Fund Highlights - provided by StatewideSuper MySuper

Access to in-house professional financial planning services.
Free member educational tools, newsletters, e-newsletters and retirement seminars.
Secure website access 24/7 via Statewide.On.Line.
Free worksite visits.
Comprehensive death and disablement insurance options.

Investment Option Performance

Asset Allocation Category FYTD FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 Comparison
Growth 11.10%
11.84%
11.10%
11.84%
5.08%
2.10%
11.48%
10.71%
14.95%
14.01%
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 30/06/2016, 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

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.