On this page
$92
$829





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.
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 MyChoice Super of the Year and the 2021 Momentum awards, and is also Infinity Recognised, which is a result of its strong commitment to environmental and social principles.Mercer Super Trust offers a wide range of investment options, including 'Ready-Made' and 'Select-Your-Own' investment options, as well as a Mercer Direct investment option providing access to Direct Shares listed on the S&P/ASX 300, a range of Exchange Traded Funds (ETFs) and Term Deposits. The Mercer Growth option underperformed the SuperRatings Index over all assessed time periods to 30 June 2020.Fees are higher than the industry average across all account balances assessed; however, discounts apply based on the size of the employer group and the member's account size. 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
- Insurance Cover
- Fees
Features
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 $92 | Administration fee (%) 0.64% |
Switching fee $0 | Investment fee 0.4% |
Indirect cost ratio (%) 0.43% | 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.
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 MyChoice Super of the Year and the 2021 Momentum awards, and is also Infinity Recognised, which is a result of its strong commitment to environmental and social principles.Mercer Super Trust offers a wide range of investment options, including 'Ready-Made' and 'Select-Your-Own' investment options, as well as a Mercer Direct investment option providing access to Direct Shares listed on the S&P/ASX 300, a range of Exchange Traded Funds (ETFs) and Term Deposits. The Mercer Growth option underperformed the SuperRatings Index over all assessed time periods to 30 June 2020.Fees are higher than the industry average across all account balances assessed; however, discounts apply based on the size of the employer group and the member's account size. 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
- Insurance Cover
- Fees
Features
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 $92 | Administration fee (%) 0.64% |
Switching fee $0 | Investment fee 0.4% |
Indirect cost ratio (%) 0.43% | Exit fee $0 |
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
Product | Past 5-year return New | Admin fee $0 | Company ![]() | Calc fees on 50k $335 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details |
Past 5-year return 8.28% p.a | Admin fee $0 | Company ![]() | Calc fees on 50k $740 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details | |
Past 5-year return New | Admin fee $0 | Company ![]() | Calc fees on 50k $1.3k | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details | |
Product | Past 5-year return 7.40% p.a | Admin fee $92 | Company ![]() | Calc fees on 50k $774 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() ![]() ![]() | Go to site | More details |
Past 5-year return 7.51% p.a | Admin fee $92 | Company ![]() | Calc fees on 50k $829 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() ![]() ![]() ![]() | Go to site | More details | |
Popular superannuation products
Related articles
Popular superannuation searches
Australian superannuation
Best performing super funds in australia
Performance super funds
Industry superannuation
Australian superannuation rates
Retail employees superannuation trust rest
Best superannuation funds
Lowest fee super funds
Self managed super funds
Superannuation with health insurance
My super superannuation
Investment cash superannuation
Casual employees superannuation
Best performing superannuation funds
Search super funds
0 administration fee super funds
Cheapest superannuation
Retail superannuation
FAQs
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.
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
What happens if my employer falls behind on my superannuation payments?
The Australian Taxation Office will investigate if your employer falls behind on your superannuation payments or doesn’t pay at all. You can report your employer with this online tool.
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.
How do you calculate superannuation from a total package?
Superannuation is calculated at the rate of 9.5 per cent of your ‘ordinary-time earnings’. (For most people, ordinary-time earnings are their gross annual salary or 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.
As the Australian Taxation Office explains, some items are excluded from ordinary-time earnings. They include:
- Overtime work paid at overtime rates
- Expense allowances that are fully expended
- Expenses that are reimbursed
- Unfair dismissal payments
- Workers’ compensation payments
- Parental leave
- Jury duty
- Defence reserve service
- Unused annual leave when employment is terminated
- Unused long service leave when employment is terminated
- Unused sick leave when employment is terminated
Although the superannuation guarantee is currently at 9.5 per cent, 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 fees do superannuation funds charge?
Superannuation funds can charge a range of fees, including:
- Activity-based fees – for specific, irregular services, such as splitting an account after a divorce
- Administration fees – to cover the cost of managing your account
- Advice fees – for personal investment advice
- Buy/sell spread fees – when you make contributions, switches and withdrawals
- Exit fees – when you close your account
- Investment fees – to cover the cost of managing your investments
- Switching fees – when you choose a new investment option within the same fund
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.
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 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.
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.
How much superannuation should I have?
The amount of superannuation you need to have at retirement is based on how much money you would expect to spend each week during your retirement. That, in turn, depends on whether you expect to lead a modest retirement or a comfortable retirement.
The Association of Superannuation Funds of Australia (ASFA) estimates you would need the following amount per week:
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 |
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 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.
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.
Is superannuation paid on overtime?
As the Australian Taxation Office explains, there are times when superannuation is paid on overtime and times when it isn’t.
Here is the ATO’s summary:
Payment type | Is superannuation paid? |
---|---|
Overtime hours – award stipulates ordinary hours to be worked and employee works additional hours for which they are paid overtime rates | No |
Overtime hours – agreement prevails over award | No |
Agreement supplanting award removes distinction between ordinary hours and other hours | Yes – all hours worked |
No ordinary hours of work stipulated | Yes – all hours worked |
Casual employee: shift loadings | Yes |
Casual employee: overtime payments | No |
Casual employee whose hours are paid at overtime rates due to a ‘bandwidth’ clause | No |
Piece-rates – no ordinary hours of work stipulated | Yes |
Overtime component of earnings based on hourly-driving-rate method stipulated in award | No |
Is superannuation compulsory?
Superannuation is compulsory. Generally speaking, it can’t be touched until you’re at least 55 years old.
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.
What happens if my employer goes out of business while still owing me superannuation?
If your employer collapses, a trustee or administrator or liquidator will be appointed to manage the company. That trustee/administrator/liquidator will be required to pay your superannuation out of company funds.
If the company doesn’t have enough funds, in some cases company directors will be required to pay your superannuation. If the directors still don’t pay, the Australian Securities & Investment Commission (ASIC) might take legal action on your behalf. However, ASIC might decline to take legal action or might be unsuccessful.
So there might be some circumstances when you don’t receive all the superannuation you’re owed.
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.
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.