Catholic Super

MyLife MyPension

No. of members: 74780
Fund size: $9.9b
Public offer:
Product type: Industry-Allocated Pension
Target market: -
Year started: 2001
Past 5-year return
6.74%
Admin fee

$101

Calc fees on 50k

$646

SuperRatings awards
Past 5-year return
6.74%
Admin fee

$101

Calc fees on 50k

$646

SuperRatings awards

Pros and Cons

Pros and Cons

  • Dedicated pension service centre. Direct (Electronic) reporting to Centrelink.
  • Extensive online account management including online member statements and online withdrawal facility.
  • Additional benefits including reduced loans, credit cards and health insurance.

Summary

MyLife MyPension is provided by MyLifeMyMoney Superannuation Fund, which was established in 1971 to offer superannuation for the employed and the self-employed. In October 2019, Catholic Super partnered with Equip in a joint venture under a shared trustee.The investment menu covers a broad range of 'Managed Choice' and 'Build Your Own' options, including the RetirePlus and RetireStable options, which are tailored to members in, and transitioning to, retirement. Members can also invest in the fund's Pension Default Strategy, where three years' worth of pension payments are invested in the Cash option, while the rest is invested in the RetirePlus and Aggressive options depending on the account balance. Investment earnings under the Pension Default Strategy are automatically rebalanced each quarter to extend the length of a member's pension payments. The Balanced option underperformed the SuperRatings Index over the 1 year period to 30 June 2019, however, outperformed over the longer term. Fees are lower than the industry average across all account balances assessed. Members are able to switch investment options at no cost. MyLife MyPension provides good flexibility, with members having the ability to receive pension payments fortnightly through to annually and members able to nominate the investment option(s) from which pension payments are to be taken. Members can also select from reversionary pension, binding death nomination and non-binding lump sum death benefits.MyLife MyPension provides members with access to a free seminar program, as well as a range of online calculators and fact sheets. The fund's secure online facility, MyLife Online, further allows members to view and update account details and perform transactions.

Features and Fees

Catholic Super Fees and Features

    Pros and Cons

    • Dedicated pension service centre. Direct (Electronic) reporting to Centrelink.
    • Extensive online account management including online member statements and online withdrawal facility.
    • Additional benefits including reduced loans, credit cards and health insurance.

    MyLife MyPension is provided by MyLifeMyMoney Superannuation Fund, which was established in 1971 to offer superannuation for the employed and the self-employed. In October 2019, Catholic Super partnered with Equip in a joint venture under a shared trustee.The investment menu covers a broad range of 'Managed Choice' and 'Build Your Own' options, including the RetirePlus and RetireStable options, which are tailored to members in, and transitioning to, retirement. Members can also invest in the fund's Pension Default Strategy, where three years' worth of pension payments are invested in the Cash option, while the rest is invested in the RetirePlus and Aggressive options depending on the account balance. Investment earnings under the Pension Default Strategy are automatically rebalanced each quarter to extend the length of a member's pension payments. The Balanced option underperformed the SuperRatings Index over the 1 year period to 30 June 2019, however, outperformed over the longer term. Fees are lower than the industry average across all account balances assessed. Members are able to switch investment options at no cost. MyLife MyPension provides good flexibility, with members having the ability to receive pension payments fortnightly through to annually and members able to nominate the investment option(s) from which pension payments are to be taken. Members can also select from reversionary pension, binding death nomination and non-binding lump sum death benefits.MyLife MyPension provides members with access to a free seminar program, as well as a range of online calculators and fact sheets. The fund's secure online facility, MyLife Online, further allows members to view and update account details and perform transactions.

    Read More

    Catholic Super Fees and Features

      Fund fees vs. Industry average
      THIS FUND
      INDUSTRY AVERAGE
      Fund past-5-year return vs. Industry average
      THIS FUND
      INDUSTRY AVERAGE
      Investment allocation
      INTERNATIONAL SHARES
      AUSTRALIAN SHARES
      PROPERTY
      ALTERNATIVES
      FIXED INTEREST
      CASH
      OTHER
      Investment option performance
      BALANCED
      HIGH GROWTH
      CONSERVATIVE BALANCE
      DIVERSIFIED FIXED INTEREST
      GROWTH
      AUSTRALIAN SHARES
      INTERNATIONAL SHARES
      CAPITAL STABLE
      PROPERTY
      CASH
      + View additional option performance information
      Product
      Past 5-year return
      Admin fee
      Company
      Calc fees on 50k
      Features
      SuperRatings awards
      Go to site