HUB24 Limited

Wealthguard Super

Past 5-year return
-
Admin fee

$500

Calc fees on 50k

$599

SuperRatings awards
MyChoice Gold
Past 5-year return
-
Admin fee

$500

Calc fees on 50k

$599

SuperRatings awards
MyChoice Gold

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

Pros and Cons

Pros and Cons

  • No information was provided by the fund to SuperRatings.

Summary

Wealthguard Super is a sub-plan of the HUB24 superannuation platform offering enhanced transaction and reporting solution to members. This product can only be accessed through the appointment of an authorised financial adviser acting on behalf of the member, requiring a minimum initial investment of $50,000 to commence membership.Members are provided access to a range of managed portfolios, managed funds, Australian and international listed securities, ETFs and term deposits. Performance history is not available for this product.Fees for Wealthguard Super are lower than the industry average across all account balances assessed. The asset-based administration fee is reduced on account balances greater than $150K and capped at $4,730 pa. Advisers and dealer groups may also negotiate a discount on the administration fee. Members are able to switch investment options at no cost, although, buy-sell spreads may apply.A full suite of insurance cover is available including Death, Total & Permanent Disablement (TPD) cover and Income Protection (IP) cover. IP is offered with a choice of benefit payment periods of 2 years, 5 years or to Age 65 with 30, 60- or 90-day waiting periods. Eligible members may apply for up to 5% Family Linking Discounts and up to 10% on their insurance premiums if Death and TPD cover each exceeds $1,000,000. Members can also apply for tailored insurance arrangements through their financial advisers to supplement the group insurance options. The fund's InvestorHUB allows members to track and manage their accounts online, as well as view all transactions, valuations and a variety of other reports, including a simple Retirement Planner calculator. A range of publications, factsheets and educational webinars are available from the website.

Features and Fees

HUB24 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

$500

Administration fee (%)

0.01%

Switching fee

$0

Investment fee

0.186%

Indirect cost ratio (%)

Exit fee

$0

Pros and Cons

  • No information was provided by the fund to SuperRatings.

Wealthguard Super is a sub-plan of the HUB24 superannuation platform offering enhanced transaction and reporting solution to members. This product can only be accessed through the appointment of an authorised financial adviser acting on behalf of the member, requiring a minimum initial investment of $50,000 to commence membership.Members are provided access to a range of managed portfolios, managed funds, Australian and international listed securities, ETFs and term deposits. Performance history is not available for this product.Fees for Wealthguard Super are lower than the industry average across all account balances assessed. The asset-based administration fee is reduced on account balances greater than $150K and capped at $4,730 pa. Advisers and dealer groups may also negotiate a discount on the administration fee. Members are able to switch investment options at no cost, although, buy-sell spreads may apply.A full suite of insurance cover is available including Death, Total & Permanent Disablement (TPD) cover and Income Protection (IP) cover. IP is offered with a choice of benefit payment periods of 2 years, 5 years or to Age 65 with 30, 60- or 90-day waiting periods. Eligible members may apply for up to 5% Family Linking Discounts and up to 10% on their insurance premiums if Death and TPD cover each exceeds $1,000,000. Members can also apply for tailored insurance arrangements through their financial advisers to supplement the group insurance options. The fund's InvestorHUB allows members to track and manage their accounts online, as well as view all transactions, valuations and a variety of other reports, including a simple Retirement Planner calculator. A range of publications, factsheets and educational webinars are available from the website.

Read More

HUB24 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

$500

Administration fee (%)

0.01%

Switching fee

$0

Investment fee

0.186%

Indirect cost ratio (%)

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
+ View additional option performance information
Past 5-year return
-
Admin fee

$0

Company
HUB24 Limited
Calc fees on 50k

$452

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Gold
Go to site
More details
Past 5-year return
4.32%
Admin fee

$530

Company
HUB24 Limited
Calc fees on 50k

$983

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

$500

Company
HUB24 Limited
Calc fees on 50k

$599

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

FAQs

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.

Is superannuation included in taxable income?

Superannuation is not included when calculating your income tax. So if you have a salary of $50,000, your assessable income would be $50,000, not $50,000 plus superannuation.

That said, superannuation itself is taxed. It is generally taxed at 15 per cent, although if you earn less than $37,000, you will be reimbursed up to $500 of the tax you paid.

What will the superannuation fund do with my money?

Your money will be invested in an investment option of your choosing.

How do you find lost superannuation funds?

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 the difference between accumulation and defined benefit funds?

A majority of Australians are in accumulation funds. These funds grow according to the amount of money invested and the return on that money.

A minority of Australians are in defined benefit funds – many of which are now closed to new members. These funds give payouts according to specific rules, such as how long the worker has been with their employer and their final salary before they retired.

How much is superannuation in Australia?

Superannuation in Australia 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 ‘superannuation guarantee’, as it is known, has been 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 are personal contributions?

A personal contribution is when you make an extra payment into your superannuation account. The difference between personal contributions and salary sacrifices is that the former comes out of your after-tax income, while the latter comes out of your pre-tax income.

What is superannuation?

Superannuation is money set aside for your retirement. This money is automatically paid into your superannuation fund by your employer.

How is superannuation calculated?

Superannuation is calculated at the rate of 9.5 per cent of your gross salary and wages. So if you had a salary of $50,000, your superannuation would be 9.5 per cent of that, or $4,750. This would be paid on top of your salary.

The ‘superannuation guarantee’, as it is known, has been 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.

How do I change my superannuation fund?

Changing superannuation funds is a common and straightforward process. You can do it through your MyGov account or by filling out a rollover form and sending it to your new fund. You’ll also have to provide proof of identity.

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.

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.

How do you create a superannuation account?

Before you create a superannuation account, you’ll need to check if you’re allowed to choose your own fund. Most Australians can, but this option doesn’t apply to some workers who are covered by industrial agreements or who are members of defined benefits funds.

Assuming you are able to choose your own fund, the next step should be research, because there are more than 200 different superannuation funds in Australia.

Once you’ve decided on your preferred superannuation fund, head to that provider’s website, where you should be able to fill in an online application or download the appropriate forms. You’ll need your tax file number (assuming you don’t want to be charged a higher tax rate), your contact details and your employer’s details (if you’re employed).

How does the age pension work?

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.

Can I take money out of my superannuation fund?

Superannuation is designed to provide Australians with money in their retirement. The government has strict rules around when people can take that money out of their fund because it wants to prevent people eroding their savings before they reach retirement.

As a general rule, you can only take money out of your superannuation fund when you reach:

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

That said, you can take money out of your superannuation fund early based on one of these seven special conditions:

  • Compassionate grounds
  • Severe financial hardship
  • Temporary incapacity
  • Permanent incapacity
  • Superannuation inheritance
  • Superannuation balance under $200
  • Temporary resident departing Australia

How many superannuation funds are there?

There are more than 200 different superannuation funds.

What are government co-contributions?

A government co-contribution is a bonus payment from the federal government into your superannuation account – but it comes with conditions. First, the government will only make a co-contribution if you make a personal contribution. Second, the government will only contribute a maximum of $500. Third, the government will only make co-contributions for people on low and medium incomes. The Australian Taxation Office will calculation whether you’re entitled to a government co-contribution when you lodge your tax return. The size of any co-contribution depends on the size of your personal contribution and income.

How can I keep track of my superannuation?

Most funds will allow you to access your superannuation account online. Another option is to manage your superannuation through myGov, which is a government portal through which you can access a range of services, including Medicare, Centrelink, aged care and child support.

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.