Mine Super AP
$180
$510
$180
$510
Pros and Cons
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.
Summary
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.
Features and Fees
Mine Super Fees and Features
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.
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Mine Super Fees and Features
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
Product | Past 5-year return New | Admin fee $180 | Company Promoted | Calc fees on 50k $510 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards | Go to site | Winner of Platinum, 10 Year Platinum Performance, RateCity Gold Awards 2020 More details | Highlighted |
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