Mercer

Mercer SmartPath - MySuper

Past 5-year return
5.51%
Admin fee

$90

Calc fees on 50k

$767

SuperRatings awards
MySuper Platinum7 Year Platinum PerformanceMomentum FinalistInfinity Recognised
Past 5-year return
5.51%
Admin fee

$90

Calc fees on 50k

$767

SuperRatings awards
MySuper Platinum7 Year Platinum PerformanceMomentum FinalistInfinity Recognised

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

Pros and Cons

Pros and Cons

  • Fully integrated service model with all aspects of investments, consulting and administration owned and controlled by Mercer.
  • High quality retirement planning services, including education and advice.
  • Wide range of service channels including workplace education and advice, helpline and limited financial advice over the phone.

Summary

The Mercer Super Trust is one of the largest corporate super platforms in Australia and provides members with a flexible range of competitive benefits. The fund was nominated as a finalist for the 2021 Momentum awards and is also Infinity Recognised, which is a result of its strong commitment to environmental and social principles.The fund's MySuper offering, Mercer SmartPath, is a whole of life investment strategy, with the underlying asset allocations adjusting according to a member's age and gradually 'gliding' from a growth-oriented investment strategy to a defensive-oriented strategy. The Mercer SmartPath MySuper Born 1959-1963 option outperformed the SuperRatings Index over the 1- and 3-year periods to 30 June 2020.Fees are higher than the industry average across medium and large account balances assessed. No fees are charged for switching investment options.A full suite of insurance is available, providing unlimited Death cover and a maximum of $5 million in Total & Permanent Disablement cover. Income Protection is available up to a maximum of 85% of salary with benefit payment periods of 2 years or to age 65, and a 90-day waiting period. Insurance premiums are tailored to each individual employer group and therefore premium rates provided here are indicative only.Members have access to Mercer financial advisers who can tailor super and retirement solutions to suit their needs. Mercer also provides a range of financial wellness workshops with flexible delivery methods. The fund's website incorporates Mercer Magazine and a Retirement Income Simulator tool, along with enabling members to consolidate super, view and update account details as well as perform transactions.

Features and Fees

Mercer 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

$90

Administration fee (%)

0.59%

Switching fee

$0

Investment fee

0.44%

Indirect cost ratio (%)

0.32%

Exit fee

$0

Pros and Cons

  • Fully integrated service model with all aspects of investments, consulting and administration owned and controlled by Mercer.
  • High quality retirement planning services, including education and advice.
  • Wide range of service channels including workplace education and advice, helpline and limited financial advice over the phone.

The Mercer Super Trust is one of the largest corporate super platforms in Australia and provides members with a flexible range of competitive benefits. The fund was nominated as a finalist for the 2021 Momentum awards and is also Infinity Recognised, which is a result of its strong commitment to environmental and social principles.The fund's MySuper offering, Mercer SmartPath, is a whole of life investment strategy, with the underlying asset allocations adjusting according to a member's age and gradually 'gliding' from a growth-oriented investment strategy to a defensive-oriented strategy. The Mercer SmartPath MySuper Born 1959-1963 option outperformed the SuperRatings Index over the 1- and 3-year periods to 30 June 2020.Fees are higher than the industry average across medium and large account balances assessed. No fees are charged for switching investment options.A full suite of insurance is available, providing unlimited Death cover and a maximum of $5 million in Total & Permanent Disablement cover. Income Protection is available up to a maximum of 85% of salary with benefit payment periods of 2 years or to age 65, and a 90-day waiting period. Insurance premiums are tailored to each individual employer group and therefore premium rates provided here are indicative only.Members have access to Mercer financial advisers who can tailor super and retirement solutions to suit their needs. Mercer also provides a range of financial wellness workshops with flexible delivery methods. The fund's website incorporates Mercer Magazine and a Retirement Income Simulator tool, along with enabling members to consolidate super, view and update account details as well as perform transactions.

Read More

Mercer 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

$90

Administration fee (%)

0.59%

Switching fee

$0

Investment fee

0.44%

Indirect cost ratio (%)

0.32%

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
BALANCED
CONSERVATIVE BALANCE
GROWTH
+ View additional option performance information
Past 5-year return
New
Admin fee

$0

Company
Mercer
Calc fees on 50k

$335

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
New
Admin fee

$0

Company
Mercer
Calc fees on 50k

$1.3k

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
6.04%
Admin fee

$0

Company
Mercer
Calc fees on 50k

$740

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
5.51%
Admin fee

$90

Company
Mercer
Calc fees on 50k

$767

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MySuper Platinum7 Year Platinum PerformanceMomentum FinalistInfinity Recognised
Go to site
More details
Past 5-year return
5.55%
Admin fee

$90

Company
Mercer
Calc fees on 50k

$792

Features
Advisory services
Death insurance
Income protection
Online access
Term deposits
Variety of options
SuperRatings awards
MyChoice Platinum15 Year Platinum PerformanceMomentum FinalistInfinity RecognisedChoice Super of the Year Finalist
Go to site
More details

FAQs

How much is superannuation?

Superannuation 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.

Can I carry on a business in an SMSF?

SMSFs are allowed to carry on a business under two conditions.

First, this must be permitted under the trust deed.

Second, the sole purpose of the business must be to earn retirement benefits.

What age can I withdraw my superannuation?

You can withdraw your superannuation (or at least some of it) when you reach ‘preservation age’. The preservation age is based on date of birth. Here are the 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

When you reach preservation age, you can withdraw all your superannuation if you’re retired. If you’re still working, you can begin a ‘transition to retirement’, which allows you to withdraw 10 per cent of their superannuation each financial year.

You can also withdraw all your superannuation once you reach 65 years.

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.

What is superannuation?

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

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 are the age pension's age rules?

Australians must be aged at least 65 years and 6 months to access the age pension. This eligibility age is scheduled to increase according to the following schedule:

Date Eligibility age
1 July 2019 66 years
1 July 2021 66 years and 6 months
1 July 2023 67 years

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.

What are the risks and challenges of an SMSF?

  • SMSFs have high set-up and running costs
  • They come with complicated compliance obligations
  • It takes a lot of time to research investment options
  • It can be difficult to make such big financial decisions

How do you claim superannuation?

There are three different ways you can claim your superannuation:

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

Two rules apply if you choose to receive an account-based pension, or income stream:

  • You must receive payments at least once per year
  • You must withdraw a minimum amount per year
    • Age 55-64 = 4%
    • Age 65-74 = 5%
    • Age 75-79 = 6%
    • Age 80-84 = 7%
    • Age 85-89 = 9%
    • Age 90-94 = 11%
    • Age 95+ = 14%

If you want to work out how long your account-based pension might last, click here to access ASIC’s account-based pension calculator.

What compliance obligations does an SMSF have?

SMSFs must maintain comprehensive records and submit to annual audits.

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 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 superannuation details do I give to my employer?

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 should also provide your tax file number – while it’s not a legal obligation, it will ensure your contributions will be taxed at the (lower) superannuation rate.

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

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.

How can I withdraw my superannuation?

There are three different ways you can withdraw your superannuation:

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

Two rules apply if you choose to receive an account-based pension (also known as an income stream):

  • You must receive payments at least once per year
  • You must withdraw a minimum amount per year
    • Age 55-64 = 4%
    • Age 65-74 = 5%
    • Age 75-79 = 6%
    • Age 80-84 = 7%
    • Age 85-89 = 9%
    • Age 90-94 = 11%
    • Age 95+ = 14%

If you want to work out how long your account-based pension might last, click here to access ASIC’s account-based pension calculator.

When is superannuation payable?

Employers must pay superannuation at least four times per year. The due dates are 28 January, 28 April, 28 July and 28 October.

What is MySuper?

MySuper accounts are basic, low-fee accounts. If you don’t nominate a superannuation fund, your employer must choose one for you that offers a MySuper account.

MySuper accounts offer two investment options:

  1. Single diversified investment strategy

Your fund assigns you a risk strategy and investment profile, which remain unchanged throughout your working life.

  1. Lifecycle investment strategy

Your fund assigns you an investment strategy based on your age, and then changes it as you get older. Younger workers are given strategies that emphasise growth assets

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).