Asgard

Asgard Infinity eWRAP Super Account (Select Package)

Past 5-year return
5.47%
Admin fee

$75

Calc fees on 50k

$820

SuperRatings awards
MyChoice Silver
Past 5-year return
5.47%
Admin fee

$75

Calc fees on 50k

$820

SuperRatings awards
MyChoice Silver

Based on your details, you can compare and save on the following superannuation

Pros and Cons

Pros and Cons

  • The only fully customisable pay-for-what-you-use platform.
  • Lower and fairer costs.
  • A platform for life that is designed to be adaptable to your changing investment needs.
  • Save time with unique features and functionality.
  • Auto Reversionary Nominations for new and existing accounts to assist with deeming rule changes.

Summary

Asgard Infinity eWRAP Super Account (Select Menu) was established in 2011 to provide a customisable investment platform that can be tailored to suit individual needs. The fund offers members and their authorised adviser with 3 investment menus: Core, Select and Full, as well as a range of optional platform features and insurance providersAsgard Infinity eWRAP Super Account (Select Menu) includes the Core menu and expands to include approximately 100 managed investments, as well as ASX Listed Securities, term deposits and cash. The Advance Balanced Multi-blend option underperformed the relevant SuperRatings Index over each assessed time period to 30 June 2020.Fees are higher than the industry average across all account balances assessed. There are no switching fees, although a buy-sell spread may apply.Asgard Infinity eWRAP Super Account's insurance offering allows eligible members to apply for an unlimited amount of Death cover and up to $5 million of TPD cover. Members can also apply to increase cover following the occurrence of a prescribed Life Event without additional underwriting. Income Protection with a benefit period of 2 years or to age 65, covering up to 75% of salary, is available following a 30, 60- or 90-day waiting period. Members have access to detailed account information via the Investor Online facility. The fund also provides financial advisers with a range of sophisticated portfolio management and administrative features, as well as real-time reporting for greater transparency.

Features and Fees

Asgard Fees and Features

Features

Variety of options

Binding nominations

Account size discount

Online Access

Home loans

Financial planning service

Non-lapsing binding nominations

Employer size discount

Anti-detriment payments

Credit cards

Insurance Cover

Health insurance

Insurance life event increases

Total and permanent disability cover

Long term income protection

Fees

Admin fee

$75

Administration fee (%)

0.48%

Switching fee

$0

Investment fee

0.68%

Indirect cost ratio (%)

0.33%

Exit fee

$0

Pros and Cons

  • The only fully customisable pay-for-what-you-use platform.
  • Lower and fairer costs.
  • A platform for life that is designed to be adaptable to your changing investment needs.
  • Save time with unique features and functionality.
  • Auto Reversionary Nominations for new and existing accounts to assist with deeming rule changes.

Asgard Infinity eWRAP Super Account (Select Menu) was established in 2011 to provide a customisable investment platform that can be tailored to suit individual needs. The fund offers members and their authorised adviser with 3 investment menus: Core, Select and Full, as well as a range of optional platform features and insurance providersAsgard Infinity eWRAP Super Account (Select Menu) includes the Core menu and expands to include approximately 100 managed investments, as well as ASX Listed Securities, term deposits and cash. The Advance Balanced Multi-blend option underperformed the relevant SuperRatings Index over each assessed time period to 30 June 2020.Fees are higher than the industry average across all account balances assessed. There are no switching fees, although a buy-sell spread may apply.Asgard Infinity eWRAP Super Account's insurance offering allows eligible members to apply for an unlimited amount of Death cover and up to $5 million of TPD cover. Members can also apply to increase cover following the occurrence of a prescribed Life Event without additional underwriting. Income Protection with a benefit period of 2 years or to age 65, covering up to 75% of salary, is available following a 30, 60- or 90-day waiting period. Members have access to detailed account information via the Investor Online facility. The fund also provides financial advisers with a range of sophisticated portfolio management and administrative features, as well as real-time reporting for greater transparency.

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Asgard Fees and Features

Features

Variety of options

Binding nominations

Account size discount

Online Access

Home loans

Financial planning service

Non-lapsing binding nominations

Employer size discount

Anti-detriment payments

Credit cards

Insurance Cover

Health insurance

Insurance life event increases

Total and permanent disability cover

Long term income protection

Fees

Admin fee

$75

Administration fee (%)

0.48%

Switching fee

$0

Investment fee

0.68%

Indirect cost ratio (%)

0.33%

Exit fee

$0
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
CAPITAL STABLE
CASH
+ View additional option performance information
Past 5-year return
5.47%
Admin fee

$50

Company
Asgard
Calc fees on 50k

$940

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Silver
Go to site
More details
Past 5-year return
5.74%
Admin fee

$40

Company
Asgard
Calc fees on 50k

$1.1k

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Silver
Go to site
More details
Past 5-year return
New
Admin fee

$108

Company
Asgard
Calc fees on 50k

$563

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MySuper Silver
Go to site
More details
Past 5-year return
5.47%
Admin fee

$975

Company
Asgard
Calc fees on 50k

$1.6k

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Silver
Go to site
More details
Past 5-year return
5.47%
Admin fee

$75

Company
Asgard
Calc fees on 50k

$745

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Silver
Go to site
More details
Past 5-year return
5.47%
Admin fee

$75

Company
Asgard
Calc fees on 50k

$845

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Silver
Go to site
More details
Past 5-year return
5.47%
Admin fee

$75

Company
Asgard
Calc fees on 50k

$820

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Silver
Go to site
More details
Past 5-year return
5.74%
Admin fee

$45

Company
Asgard
Calc fees on 50k

$1.2k

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Silver
Go to site
More details
Past 5-year return
5.47%
Admin fee

$905

Company
Asgard
Calc fees on 50k

$1.5k

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Silver
Go to site
More details

FAQs

Is superannuation taxed?

Superannuation is taxed. It is generally taxed at 15 per cent. However, if you earn less than $37,000, you will be automatically reimbursed up to $500 of the tax you paid. Also, if your income plus concessional superannuation contributions exceed $250,000, you will also be charged Division 293 tax. This is an extra 15 per cent tax on your concessional contributions or the amount above $250,000 – whichever is lesser.

How do you pay superannuation?

Superannuation is paid by employers to employees. Employers are required to pay superannuation to all their staff if the staff are:

  • Over 18 and earn more than $450 before tax in a calendar month
  • Under 18, work more than 30 hours per week and earn more than $450 before tax in a calendar month

This applies even if the staff are casual employees, part-time employees, contractors (provided the contract is mainly for their labour) or temporary residents.

Currently, the superannuation rate is currently 9.5 per cent of an employee’s ordinary time earnings. This is scheduled to rise to 10.0 per cent in 2021-22, 10.5 per cent in 2022-23, 11.0 per cent in 2023-24, 11.5 per cent in 2024-25 and 12.0 per cent in 2025-26.

Employers must pay superannuation at least four times per year. The due dates are 28 January, 28 April, 28 July and 28 October.

Am I entitled to superannuation if I'm not an Australian citizen?

Yes, permanent and temporary residents are entitled to superannuation.

How do I set up an SMSF?

Setting up an SMSF takes more work than registering with an ordinary superannuation fund. 

An SMSF is a type of trust, so if you want to create an SMSF, you first have to create a trust.

To create a trust, you will need trustees, who must sign a trustee declaration. You will also need identifiable beneficiaries and assets for the fund – although these can be as little as a few dollars.

You will also need to create a trust deed, which is a document that lays out the rules of your SMSF. The trust deed must be prepared by a qualified professional and signed by all trustees.

To qualify as an Australian superannuation fund, the SMSF must meet these three criteria:

  • The fund must be established in Australia – or at least one of its assets must be located in Australia
  • The central management and control of the fund must ordinarily be in Australia
  • The fund must have active members who are Australian residents and who hold at least 50 per cent of the fund’s assets – or it must have no active members

Once your SMSF is established and all trustees have signed a trustee declaration, you have 60 days to apply for an Australian Business Number (ABN).

When completing the ABN application, you should ask for a tax file number for your fund. You should also ask for the fund to be regulated by the Australian Taxation Office – otherwise it won’t receive tax concessions.

Your next step is to open a bank account in your fund’s name. This account must be kept separated from the accounts held by the trustees and any related employers.

Your SMSF will also need an electronic service address, so it can receive contributions.

Finally, you will need to create an investment strategy, which explains how your fund will invest its money, and an exit strategy, which explains how and why it would ever close.

Please note that you can pay an adviser to set up your SMSF. You might also want to take the Self-Managed Superannuation Fund Trustee Education Program, which is a free program that has been created by CPA Australia and Chartered Accountants Australia & New Zealand.

How do you find superannuation?

Lost superannuation refers to savings in an account that you’ve forgotten about. This can happen if you’ve opened several different accounts over the years while moving from job to job.

You can use your MyGov account to see details of all your superannuation accounts, including any you might have forgotten. Alternatively, you can fill in a ‘Searching for lost super’ form and send it to the Australian Taxation Office, which will then search on your behalf.

What should I know before getting an SMSF?

Four questions to ask yourself before taking out an SMSF include:

  1. Do I have enough superannuation to justify the higher set-up and running costs?
  2. Am I able to handle complicated compliance obligations?
  3. Am I willing to spend lots of time researching investment options?
  4. Do I have the skill to make big financial decisions?

It’s also worth remembering that ordinary superannuation funds usually offer discounted life insurance and disability insurance. These discounts would no longer be available if you decided to manage your own super.

What is MySuper?

MySuper accounts are basic, low-fee accounts. If you don’t nominate a superannuation fund, your employer must choose one for you that offers a MySuper account.

MySuper accounts offer two investment options:

  1. Single diversified investment strategy

Your fund assigns you a risk strategy and investment profile, which remain unchanged throughout your working life.

  1. Lifecycle investment strategy

Your fund assigns you an investment strategy based on your age, and then changes it as you get older. Younger workers are given strategies that emphasise growth assets

Is superannuation paid on overtime?

As the Australian Taxation Office explains, there are times when superannuation is paid on overtime and times when it isn’t.

Here is the ATO’s summary:

Payment type Is superannuation paid?
Overtime hours – award stipulates ordinary hours to be worked and employee works additional hours for which they are paid overtime rates No
Overtime hours – agreement prevails over award No
Agreement supplanting award removes distinction between ordinary hours and other hours Yes – all hours worked
No ordinary hours of work stipulated Yes – all hours worked
Casual employee: shift loadings Yes
Casual employee: overtime payments No
Casual employee whose hours are paid at overtime rates due to a ‘bandwidth’ clause No
Piece-rates – no ordinary hours of work stipulated Yes
Overtime component of earnings based on hourly-driving-rate method stipulated in award No

What is the superannuation rate?

The superannuation rate, or guarantee rate, is the percentage of your salary that your employer must pay into your superannuation fund. The superannuation guarantee has been set at 9.5 per cent since the 2014-15 financial year. It is scheduled to rise to 10.0 per cent in 2021-22, 10.5 per cent in 2022-23, 11.0 per cent in 2023-24, 11.5 per cent in 2024-25 and 12.0 per cent in 2025-26.

What happens to my superannuation when I change jobs?

You can keep your superannuation fund for as long as you like, so nothing happens when you change jobs. Please note that some superannuation funds have special features for people who work with certain employers, so these features may no longer be available if you change jobs.

How does superannuation affect the age pension?

Most Australians who are of retirement age can qualify for the age pension. However, depending on the size of your assets and post-retirement income, you might be entitled to only a reduced pension. In some instances, you might not be entitled to any pension payments.

What are reportable superannuation contributions?

For employees, there are two types of reportable superannuation contributions:

  • Reportable employer super contributions your employer makes for you
  • Personal deductible contributions you make for yourself

What happens to my insurance cover if I change superannuation funds?

Some superannuation funds will allow you to transfer your insurance cover, without interruption, if you switch. However, others won’t. So it’s important you check before changing funds.

What is a superannuation fund?

A superannuation fund is an institution that is legally allowed to hold and invest your superannuation. There are more than 200 different superannuation funds in Australia. They come in five different types:

  • Retail funds
  • Industry funds
  • Public sector funds
  • Corporate funds
  • Self-managed super funds

Retail funds are usually run by banks or investment companies.

Industry funds were originally designed for workers from a particular industry, but are now open to anyone.

Public sector funds were originally designed for people working for federal or state government departments. Most are still reserved for government employees.

Corporate funds are arranged by employers for their employees.

Self-managed super funds are private superannuation funds that allow people to directly invest their money.

How does superannuation work?

Superannuation is paid by employers to employees, at least once every three months. The ‘superannuation guarantee’ is currently 9.5 per cent – which means that your employer must pay you superannuation equivalent to 9.5 per cent of your salary. The guarantee is scheduled to rise to 10.0 per cent in 2021-22, 10.5 per cent in 2022-23, 11.0 per cent in 2023-24, 11.5 per cent in 2024-25 and 12.0 per cent in 2025-26.

Superannuation is generally taxed at 15 per cent. However, if you earn less than $37,000, you will be automatically reimbursed up to $500 of the tax you paid. Also, if your income plus concessional superannuation contributions exceed $250,000, you will also be charged Division 293 tax. This is an extra 15 per cent tax on your concessional contributions or the amount above $250,000 – whichever is lesser.

You can withdraw your superannuation when you meet the ‘conditions of release’. The conditions of release say you can claim your super when you reach:

  • Age 65
  • Your ‘preservation age’ and retire
  • Your preservation age and begin a ‘transition to retirement’ while still working

 

Can my employer use money from my superannuation account?

No, your employer can’t touch the money that is paid into your superannuation account.

What are ethical investment superannuation funds?

Ethical investment funds limit themselves to making ‘ethical’ investments (which each fund defines according to its own principles). For example, ethical funds might avoid investing in companies or industries that are linked to human suffering or environmental damage.

How many superannuation funds are there?

There are more than 200 different superannuation funds.

How do I choose the right superannuation fund?

Different superannuation funds charge different fees, offer different insurances, offer different investment options and have different performance histories.

So you need to ask yourself these four questions when comparing superannuation funds:

  • How many fees would I have to pay and what would they cost?
  • What insurances are available and how much would they cost?
  • What investment options does it offer? How would they match my risk profile and financial needs?
  • How have these investment options performed historically?

How do you claim superannuation?

There are three different ways you can claim your superannuation:

  • Lump sum
  • Account-based pension
  • Part lump sum and part account-based pension

Two rules apply if you choose to receive an account-based pension, or income stream:

  • You must receive payments at least once per year
  • You must withdraw a minimum amount per year
    • Age 55-64 = 4%
    • Age 65-74 = 5%
    • Age 75-79 = 6%
    • Age 80-84 = 7%
    • Age 85-89 = 9%
    • Age 90-94 = 11%
    • Age 95+ = 14%

If you want to work out how long your account-based pension might last, click here to access ASIC’s account-based pension calculator.