SuperRatings Gold 2021 Pension

Super SA

Super SA - Income Stream

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 7 investment options to choose from, providing members with access to 5 Diversified options, a Cash option and a Socially Responsible option for the ethical investor. The Balanced option outperformed the SuperRatings Index over the 5 years to 30 June 2020, however, underperformed over longer time periods assessed.Fees are lower than the industry average across all account balances assessed. Members are charged a fee for the second and subsequent investment 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.