Catholic Super - Default Strategy

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. 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 has outperformed the relevant SuperRatings Index over each time period assessed to 30 June 2018.Fees are higher than the industry average across medium and large account balances assessed. No fees are charged for switching investments; however, withdrawal and exit fees apply. 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 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 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.