Catholic Super - Default Strategy
- Last updated on 16 Jul 2020
QSuper Lifetime
Pay no transaction or switching fees and enjoy a range of different investment options
$94
$629
Catholic Super is a division of the MyLifeMyMoney Superannuation Fund and 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 fund's MySuper offering; the Default Strategy, is a lifecycle investment option where the member's investments are allocated into the existing Aggressive (MySuper) option up to age 50, while slowly transitioning into the Balanced (MySuper) option by age 53. Switches between the two MySuper options happen automatically within 3 months of the member's relevant birthdate. The Balanced (MySuper) 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. A full suite of insurance cover is offered, with Death, Total & Permanent Disablement (TPD) and Income Protection (IP) insurance cover automatically provided to eligible members upon joining the fund. Members can further apply to increase their Death and TPD cover following the occurrence of a prescribed Life Event without additional underwriting. Income Protection with a benefit period of 2 years, 5 years, to age 65 or to age 70, covering up to 85% of salary, is available following a 30 or 60 day waiting period. Catholic Super 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.
Admin fee $94 | Health insurance |
Administration fee (%) 0.18% | Binding nominations |
Indirect cost ratio (%) 0.23% | Anti-detriment payments |
Exit fee $0 | Switching fee $0 |
Financial planning service | Employer size discount |
Credit cards | Home loans |
Insurance life event increases | Non-lapsing binding nominations |
Investment fee 0.66% | Long term income protection |
Account size discount |
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
Product | Past 5-year return | Admin fee | Company | Calc fees on 50k | Features | SuperRatings awards | Go to site | |
|---|---|---|---|---|---|---|---|---|
5.76% | $94 | MyLife MySuper | $629 | Advisory services Death insurance Income protection Online access Term deposits Variety of options |   | More details | ||
5.76% | $94 | Catholic Super | $629 | Advisory services Death insurance Income protection Online access Term deposits Variety of options |  | More details | ||
5.76% | $94 | MyLife MySuper - Default Strategy | $629 | Advisory services Death insurance Income protection Online access Term deposits Variety of options | | More details | ||
5.76% | $94 | MyLife MySuper - Personal Plan | $629 | Advisory services Death insurance Income protection Online access Term deposits Variety of options | | More details | ||
5.76% | $94 | Catholic Super - Default Strategy | $629 | Advisory services Death insurance Income protection Online access Term deposits Variety of options | | More details | ||
5.76% | $94 | Catholic Super - Personal Plan | $629 | Advisory services Death insurance Income protection Online access Term deposits Variety of options | | More details |
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