MyLife MySuper - Default Strategy

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Past 5-year return
10.70%
Admin fee
$94
Calculated Fees on 50k
$784
Trusted financial advice from in-house salaried financial planners
Trusted financial advice from in-house salaried financial planners
Generous insurance with a dedicated MyLife MyInsurance website
Local offices with Superannuation Specialists and Financial Advisers
MyLife MySuper was launched as a division of MyLifeMyMoney Superannuation Fund in 2015, with the fund established in 1971 to offer superannuation for the employed and the self-employed. The fund is Infinity Recognised, which is a result of its strong commitment to environmental and social principles.The fund's MySuper offering, the Default Strategy, is a lifecycle investment option where member's investments are allocated depending on their age into the existing Aggressive (MySuper) option up to age 50, while slowly transitioning into the Balanced (MySuper) option by age 53. Switches between the two MySuper options happen automatically within 3 months of the member's relevant birthdate, and members can opt in or out of the Default Strategy at any time. The Balanced (MySuper) option has outperformed the SuperRatings Index over the short and long term. Fees are higher than the industry average across all account balances assessed. No fees are charged for switching investments; however, withdrawal and exit fees apply. A full suite of insurance cover is offered, with Death, Total & Permanent Disablement (TPD) and Income Protection (IP) insurance cover automatically provided upon joining the fund. Income Protection is available to a maximum of 85% of salary, with benefit payment periods of 5 years, to age 65 or to age 70, and a choice of a 30 day and a 60 day waiting period.MyLife MySuper provides members with access to a free seminar program, as well as a range of online fact sheets, calculators and educational videos. The fund's secure online facility, MyLife Online, further allows members to view and update account details and perform transactions.

Fees & fund features

Admin fee
Admin fee
$94
Exit fee
Exit fee
$35
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
0.75%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$0
Employer size discount
Employer size discount
Home loans
Home loans
Non-lapsing binding nominations
Non-lapsing binding nominations
Long term income protection
Long term income protection
Admin fee
Admin fee
$94
Exit fee
Exit fee
$35
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
0.75%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$0
Employer size discount
Employer size discount
Home loans
Home loans
Non-lapsing binding nominations
Non-lapsing binding nominations
Long term income protection
Long term income protection
Fund fees vs. Industry average
Fund past-5-year return vs. Industry average
Investment allocation
Investment option performance
+ View additional option performance information
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