Yellow Brick Road

Allan Gray Superannuation

No. of members: 24926
Fund size: $770.7m
Public offer:
Product type: Master Trust-Personal
Target market: -
Year started: 2018
Past 5-year return
-
Admin fee

$50

Calc fees on 50k

$545

SuperRatings awards
MyChoice Silver
Highlighted
6.54%

$0

QSuper

$465

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MySuper Platinum7 Year Platinum PerformanceNet Benefit Finalist Smooth RideMySuper of the Year Finalist
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RateCity Says: Enjoy the benefits of an investment strategy based on your age and account balance.

Past 5-year return
-
Admin fee

$50

Calc fees on 50k

$545

SuperRatings awards
MyChoice Silver

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
-

$200

Yellow Brick Road

$645

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

$0

Yellow Brick Road

$530

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MyChoice Silver
More details
4.66%

$0

Yellow Brick Road

$555

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
-

$0

Yellow Brick Road

$395

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

$200

Yellow Brick Road

$530

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

$0

Yellow Brick Road

$500

Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
MyChoice Silver
More details
5.16%

$200

Yellow Brick Road

$620

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

FAQs

What is superannuation?

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

How long after divorce can you claim superannuation?

You or your partner could be forced to surrender part of your superannuation if you divorce, just like with other assets.

You can file a claim for division of property – including superannuation – as soon as you divorce. However, the claim has to be filed within one year of the divorce.

Your superannuation could be affected even if you’re in a de facto relationship – that is, living together as a couple without being officially married.

In that case, the claim has to be filed within two years of the date of separation.

Either way, the first thing to consider is whether you’re a member of a standard, APRA-regulated superannuation fund or if you’re a member of a self-managed superannuation fund (SMSF), because different rules apply.

Standard superannuation funds

If your relationship breaks down, your superannuation savings might be divided by court order or by agreement.

The rules of the superannuation fund will dictate whether this transfer happens immediately, or in the future when the person who has to make the transfer is allowed to access the rest of their superannuation (i.e. at or near retirement).

Click here for more information.

SMSFs

If your relationship breaks down, you must continue to observe the trust deed of your SMSF.

So if you and your partner are both members of the same SMSF, neither party is allowed to use the fund to inflict ‘punishment’ – such as by excluding the other party from the decision-making process or refusing their request to roll their money into another superannuation fund.

This no-punishment rule applies even if the two parties are involved in legal proceedings.

Click here for more information.

Financial consequences

Superannuation funds often charge a fee for splitting accounts after a relationship breakdown.

Splitting superannuation can also impact the size of your total super balance and how your super is taxed.

Click here for more information.

When did superannuation start in Australia?

Australia’s modern superannuation system – in which employers make compulsory contributions to their employees – started in 1992. However, before that, there were various restricted superannuation schemes applying to certain employees in certain industries. The very first superannuation scheme was introduced in the 19th century.

When did superannuation start?

Australia’s modern superannuation system – in which employers make compulsory contributions to their employees – started in 1992. However, before that, there were various restricted superannuation schemes applying to certain employees in certain industries. The very first superannuation scheme was introduced in the 19th century.

How many superannuation funds are there?

There are more than 200 different superannuation funds.

How can I increase my superannuation?

You can increase your superannuation through a ‘salary sacrifice’. This is where your employer takes part of your pre-tax salary and pays it directly into your superannuation account. Like regular superannuation contributions, salary sacrifices are taxed at 15 per cent when they are paid into the fund.

Do I have to pay myself superannuation if I'm self-employed?

No, self-employed workers don’t have to pay themselves superannuation. However, if you do pay yourself superannuation, you will probably be able to claim a tax deduction.

Who can open a superannuation account?

Superannuation accounts can be opened by Australians, permanent residents and temporary residents. 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

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

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

Yes, permanent and temporary residents are entitled to superannuation.

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.

How is superannuation regulated?

The Australian Prudential Regulation Authority (APRA) regulates ordinary superannuation accounts. Self-managed superannuation funds (SMSFs) are regulated by the Australian Taxation Office.

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 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 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.

Am I entitled to superannuation if I'm a contractor?

As a contractor, you’re entitled to superannuation if:

  • The contract is mainly for your labour
  • 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

Please note that you’re entitled to superannuation even if you have an Australian business number (ABN).

Is superannuation compulsory?

Superannuation is compulsory. Generally speaking, it can’t be touched until you’re at least 55 years old.

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 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 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.