Yellow Brick Road

Allan Gray Superannuation

Past 5-year return
-
Admin fee

$50

Calc fees on 50k

$545

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

$50

Calc fees on 50k

$545

SuperRatings awards
MyChoice Silver

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

Pros and Cons

Pros and Cons

  • Choice of curated list of investment options - managed funds listedshares ETFs and term deposits
  • Ability to use expertise of a financial adviser or invest directly with feesthe same whether advised or direct
  • Selection of modern Default & Voluntary insurance options - Groupinsurance including default cover for death & TPD and Salary Continuance plus option of three retail insurers
  • Backing of top equity fund manager with runs on the board and aunderstanding of investment
  • Very strong public website calculator to determine what you paydepending on how you invest
  • Great online portal research and educational material 24/7 access viewtransactions account balanced
  • Ability to transact online and run reports across any date range

Summary

Allan Gray Superannuation is an accumulation superannuation product offered through the MAP Superannuation Plan Division II. Members are offered a wide range of Investment Options including the Cash Hub, Managed Funds, Term Deposits, and Managed Account Model Portfolios and ASX Listed Securities. Performance history is currently unavailable for this product.Fees associated with this product are competitive and lower than the industry average across all account balances assessed. Members can make investment switches 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. There is no limit to the amount of Death only cover a member can apply for, while Death & TPD cover is available up to a maximum of $3 million. Income Protection with a benefit period of 2 years, 5 years, to age 65 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 their account online via the Secure Online Portal, where they can manage their account and perform transactions such as switching investment options and varying pension payments.

Features and Fees

Yellow Brick Road 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

$50

Administration fee (%)

0.23%

Switching fee

$0

Investment fee

0.76%

Indirect cost ratio (%)

Exit fee

$0

Pros and Cons

  • Choice of curated list of investment options - managed funds listedshares ETFs and term deposits
  • Ability to use expertise of a financial adviser or invest directly with feesthe same whether advised or direct
  • Selection of modern Default & Voluntary insurance options - Groupinsurance including default cover for death & TPD and Salary Continuance plus option of three retail insurers
  • Backing of top equity fund manager with runs on the board and aunderstanding of investment
  • Very strong public website calculator to determine what you paydepending on how you invest
  • Great online portal research and educational material 24/7 access viewtransactions account balanced
  • Ability to transact online and run reports across any date range

Allan Gray Superannuation is an accumulation superannuation product offered through the MAP Superannuation Plan Division II. Members are offered a wide range of Investment Options including the Cash Hub, Managed Funds, Term Deposits, and Managed Account Model Portfolios and ASX Listed Securities. Performance history is currently unavailable for this product.Fees associated with this product are competitive and lower than the industry average across all account balances assessed. Members can make investment switches 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. There is no limit to the amount of Death only cover a member can apply for, while Death & TPD cover is available up to a maximum of $3 million. Income Protection with a benefit period of 2 years, 5 years, to age 65 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 their account online via the Secure Online Portal, where they can manage their account and perform transactions such as switching investment options and varying pension payments.

Read More

Yellow Brick Road 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

$50

Administration fee (%)

0.23%

Switching fee

$0

Investment fee

0.76%

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
Product
Past 5-year return
Admin fee
Company
Calc fees on 50k
Features
SuperRatings awards
Go to site
New

$200

Yellow Brick Road

$645

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MyChoice Silver
More details
5.34%

$0

Yellow Brick Road

$555

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MyChoice Silver
More details
5.75%

$200

Yellow Brick Road

$620

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MyChoice Silver
More details
New

$0

Yellow Brick Road

$500

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MyChoice Silver
More details
-

$50

Yellow Brick Road

$545

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MyChoice Silver
More details
New

$0

Yellow Brick Road

$395

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MyChoice Silver
More details

FAQs

How do you access superannuation?

Accessing your superannuation is a simple administrative procedure – you just ask your fund to pay it. You can access your superannuation in three different ways:

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

However, please note that your superannuation fund will only be able to make a payout if 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

The preservation age has six different categories:

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
From 1 July 1964 60

There are also seven special circumstances under which you can claim your superannuation:

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

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.

What contributions can SMSFs accept?

SMSFs can accept mandated employer contributions from an employer at any time (Funds need an electronic service address to receive the contributions).

However, SMSFs can’t accept contributions from members who don’t have tax file numbers.

Also, they generally can’t accept assets as contributions from members and they generally can’t accept non-mandated contributions for members who are 75 or older.

What is superannuation?

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

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

Yes, permanent and temporary residents are entitled to superannuation.

Am I entitled to superannuation if I'm a casual employee?

As a casual employee, you’re entitled to superannuation if:

  • You’re over 18 and earn more than $450 before tax in a calendar month
  • You’re under 18, you work more than 30 hours per week and you earn more than $450 before tax in a calendar month

Can I buy a house with my superannuation?

First home buyers are the only people who can use their superannuation to buy a property. The federal government has created the First Home Super Saver Scheme to help first home buyers save for a deposit. First home buyers can make voluntary contributions of up to $15,000 per year, and $30,000 in total, to their superannuation account. These contributions are taxed at 15 per cent, along with deemed earnings. Withdrawals are taxed at marginal tax rates minus a tax offset of 30 percentage points.

Voluntary contributions to the First Home Super Saver Scheme are not exempt from the $25,000 annual limit on concessional contributions. So if you pay $15,000 per year into the First Home Super Saver Scheme, you have to make sure that you don’t receive more than $10,000 in superannuation payments from your employer and any salary sacrificing.

How much extra superannuation can I add to my fund?

There is an annual limit of $25,000 for concessional contributions – that is, money paid by your employer and extra money you pay into your account through salary sacrificing. There is also a limit on non-concessional contributions. Australians aged between 65 and 74 have a limit of $100,000 per year. Australians aged under 65 have a limit of $300,000 every three years.

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 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.

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.

How do you open a superannuation account?

Opening a superannuation account is simple. When you start a job, your employer will give you what’s called a ‘superannuation standard choice form’. Here’s what you need to complete the form:

  • The name of your preferred superannuation fund
  • The fund’s address
  • The fund’s Australian business number (ABN)
  • The fund’s superannuation product identification number (SPIN)
  • The fund’s phone number
  • A letter from the fund trustee confirming that the fund is a complying fund; or written evidence from the fund stating it will accept contributions from your new employer; or details about how your employer can make contributions to the fund

You might want to provide your tax file number as well – while it’s not a legal obligation, it will ensure your contributions will be taxed at the (lower) superannuation rate.

How do you get superannuation?

You’re automatically entitled to superannuation if:

  • You’re over 18 and earn more than $450 before tax in a calendar month
  • You’re under 18, you work more than 30 hours per week and you earn more than $450 before tax in a calendar month

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 will the superannuation fund do with my money?

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

How much superannuation do I need?

According to the Association of Superannuation Funds of Australia (ASFA), here is how much you would be able to spend per week during retirement:

Lifestyle Singles Couples
Modest $465 $668
Comfortable $837 $1,150

Here is the superannuation balance you would need to fund that level of spending:

Lifestyle Singles Couples
Modest $50,000 $35,000
Comfortable $545,000 $640,000

These figures come from the March 2017 edition of the ASFA Retirement Standard.

The reason people on modest lifestyles need so much less money is because they qualify for a far bigger age pension.

Here is how ASFA defines retirement lifestyles:

Category Comfortable Modest Age pension
Holidays One annual holiday in Australia One or two short breaks in Australia near where you live Shorter breaks or day trips in your own city
Eating out Regularly eat out at restaurants. Good range and quality of food Infrequently eat out at restaurants. Cheaper and less food Only club special meals or inexpensive takeaway
Car Owning a reasonable car Owning an older, less reliable car No car – or, if you do, a struggle to afford the upkeep
Alcohol Bottled wine Casked wine Homebrew beer or no alcohol
Clothing Good clothes Reasonable clothes Basic clothes
Hair Regular haircuts at a good hairdresser Regular haircuts at a basic salon Less frequent haircuts or getting a friend to do it
Leisure A range of regular leisure activities One paid leisure activity, infrequently Free or low-cost leisure activities
Electronics A range of electronic equipment Not much scope to run an air conditioner Less heating in winter
Maintenance Replace kitchen and bathroom over 20 years No budget for home improvements. Can do repairs, but can’t replace kitchen or bathroom No budget to fix home problems like a leaky roof
Insurance Private health insurance Private health insurance No private health insurance

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 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.

Can I choose a superannuation fund or does my employer choose one for me?

Most people can choose their own superannuation fund. However, you might not have this option if you are a member of certain defined benefit funds or covered by certain industrial agreements. If you don’t choose a superannuation fund, your employer will choose one for you.

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.