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Pros and Cons
- The industry fund for Australia's coal community since 1941.
- A fundamental commitment to understanding and meeting the needs of coal miners and their families. Dedicated, responsive and personalised customer service.
- Above median long term investment returns, with fees well below the industry and not for profit average.
- Scaleable, competitively priced advice and education which allows members to choose the level of guidance they need via their preferred delivery method.
Mine Super was originally established in 1941 under the Coal and Oil Shale Mineworkers (Pensions) Act and was designed to provide for the retirement needs of members employed within the coal mining industry. The fund is a public offer fund and allows members from all industries to apply for membership, with a minimum initial investment of $15,000 required to commence membership.Mine Super Account Based Pension offers an investment menu of 5 diversified options and 5 single sector options, as well as term deposits. The Balanced option outperformed the relevant SuperRatings Index over the year to 30 June 2020; however, underperformed across other assessed time periods.Fees are lower than the industry average across all account balances assessed. No additional fees are charged for switching between investment options.Mine Super Account Based Pension offers reasonable pension flexibility, with members able to select from fortnightly through to yearly payment frequencies. Members can also select from binding death nomination or non-binding lump sum death benefits.Mine Super offers members access to financial advice services, as well as provides regular information seminars in major mining areas throughout NSW and Queensland.
Mine Super Fees and Features
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment option performance
Popular pension funds products
AustralianSuper Choice Income Account
Strong long-term performance and low fees
Flexible investment choice - 11 options and the Member Direct
Free retirement seminars and webcasts
Full online account access at any time via PensionOnline with Mobile App available
Plum Retirement Income
Support: Plum Retirement Income offers access to phone-based help, online education, an electronic application process, and six monthly member statements which provides a level of assurance for members to make retirement decisions.
Transition to retirement and Account based pension product: Plum Retirement Income allows members to transition to retirement via the Self Select Investment Path.
QANTAS Super Gateway - Income Account
Competitive and flexible insurance offering.
Full range of investment options.
QSuper - Income Account
Access to an industry first uncapped Income account transfer bonus.
Reversionary pensions allowed.
Access to an award-winning member contact centre.
Access to advice at no additional cost and over 550 free educational seminars.