Super SA

Super SA - Income Stream

No. of members: 197104
Fund size: $22.7b
Public offer:
Product type: Government-Allocated Pension
Target market: -
Year started: 2005
Past 5-year return
5.67%
Admin fee

$0

Calc fees on 50k

$512

SuperRatings awards
Highlighted
7.15%

$117

AustralianSuper

$472

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
Go to site
Past 5-year return
5.67%
Admin fee

$0

Calc fees on 50k

$512

SuperRatings awards

Pros and Cons

Pros and Cons

  • Low administration fee capped at $375 pa.
  • No fees for lump-sum withdrawals.
  • Access to limited advice and full financial planning.
  • Extensive free member seminar program.
  • Wide choice of payment frequency options.
  • Spouse account option.
  • Low minimum withdrawal amount of $1,000.

Summary

Originally established in 1927 as The South Australian Superannuation Fund, Super SA is now the largest super scheme in South Australia responsible for managing the super and retirement savings of current and former SA public sector employees. Super SA Income Stream requires an initial investment of $30,000 to commence membership; however, members can open a second income stream with $10,000. Members also have the option to open an Income Stream for their spouse. Super SA Income Stream offers a range of 8 investment options to choose from, providing members with access to 6 Diversified options, a Cash option and a Socially Responsible option for the ethical investor. The Balanced option outperformed the SuperRatings Index over the year to 30 June 2019; however, underperformance remains evident over the longer term.Fees are lower than the industry average across all account balances assessed. Members are charged a fee for the second and subsequent switches. Super SA provides reasonable flexibility, with members having the ability to receive payments fortnightly through to annually. Members with more than one investment option can nominate the order in which the payments are to be drawn from each option. Beneficiary options are limited to reversionary pensions. Members have access to comprehensive financial planning services provided through Industry Fund Services on a fee-for-service basis. The fund's website includes a Knowledge Centre where members can access fact sheets, calculators, vodcasts and news updates. The online Member Portal allows members to update their details, view account information and switch investment options.

Features and Fees

Super SA Fees and Features

    Pros and Cons

    • Low administration fee capped at $375 pa.
    • No fees for lump-sum withdrawals.
    • Access to limited advice and full financial planning.
    • Extensive free member seminar program.
    • Wide choice of payment frequency options.
    • Spouse account option.
    • Low minimum withdrawal amount of $1,000.

    Originally established in 1927 as The South Australian Superannuation Fund, Super SA is now the largest super scheme in South Australia responsible for managing the super and retirement savings of current and former SA public sector employees. Super SA Income Stream requires an initial investment of $30,000 to commence membership; however, members can open a second income stream with $10,000. Members also have the option to open an Income Stream for their spouse. Super SA Income Stream offers a range of 8 investment options to choose from, providing members with access to 6 Diversified options, a Cash option and a Socially Responsible option for the ethical investor. The Balanced option outperformed the SuperRatings Index over the year to 30 June 2019; however, underperformance remains evident over the longer term.Fees are lower than the industry average across all account balances assessed. Members are charged a fee for the second and subsequent switches. Super SA provides reasonable flexibility, with members having the ability to receive payments fortnightly through to annually. Members with more than one investment option can nominate the order in which the payments are to be drawn from each option. Beneficiary options are limited to reversionary pensions. Members have access to comprehensive financial planning services provided through Industry Fund Services on a fee-for-service basis. The fund's website includes a Knowledge Centre where members can access fact sheets, calculators, vodcasts and news updates. The online Member Portal allows members to update their details, view account information and switch investment options.

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    Super SA 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
      CONSERVATIVE BALANCE
      SECURE
      GROWTH
      CAPITAL STABLE
      CASH
      + View additional option performance information
      Product
      Past 5-year return
      Admin fee
      Company
      Calc fees on 50k
      Features
      SuperRatings awards
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