company logo

Smartsave - Employer

Past 5-year return
New fund
Admin fee
$75
Calculated Fees on 50k
$1,043
Compare
No information was provided by the fund to SuperRatings. Hence an alert rating may be given in areas where a qualitative assessment cannot be made. For available information refer to the fund's PDS.
The Smartsave 'Member's Choice' Superannuation Master Plan was established in 2001. The Employer Super and Personal Choice divisions are open to all employers, employees and personal members.Members have access to an investment menu consisting of 4 Diversified and 9 Single Sector options across a range of risk and return profiles. The Growth option (where data has been available) has underperformed the SuperRatings index. Fees are higher than the industry average across all assessed account balances; however, employers and members are able to negotiate parts of the fees with their financial adviser. The fund does not charge an investment switching fees however an exit fee and a buy/sell spread may apply.A full suite of insurance is offered to members and all members are provided with one unit of automatic death and TPD cover which varies based on age, gender and occupation. Members can apply for additional cover of up to $10 million for Death and up to $3 million for Total & Permanent Disablement (TPD). Members can also apply to increase cover following the occurrence of a prescribed Life Event without additional underwriting. Income Protection with a benefit period of 2 years or to age 65, covering up to 84.5% of salary, is available following a 30, 60 or 90 day waiting period.Members and employers can access financial planning services through the fund as well as a variety of tools, member communications and educational material on the fund's website which also gives advisers, members and employers the ability to track and manage their account details online.
Advertisement
Advertisement

Fees & fund features

Admin fee
Admin fee
$75
Administration fee (%)
Administration fee (%)
1.24%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
Exit fee
Exit fee
$0
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
0.70%
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
$75
Administration fee (%)
Administration fee (%)
1.24%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
Exit fee
Exit fee
$0
Financial planning service
Financial planning service
Credit cards
Credit cards
Insurance life event increases
Insurance life event increases
Investment fee
Investment fee
0.70%
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
1 - 2 of 2
Product
Past 5-year return
Admin fee
Past 5-year return
Company
Calculated Fees on 50k
Features
SuperRatings awards
Go To Site
More Info
Compare

More details

More Info
Compare

More details

FAQs

Superannuation is paid by employers to employees, at least once every three months. The ‘superannuation guarantee’ 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 guarantee 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.

Superannuation is generally taxed at 15 per cent. However, if you earn less than $37,000, you will be automatically reimbursed up to $500 of the tax you paid. Also, if your income plus concessional superannuation contributions exceed $250,000, you will also be charged Division 293 tax. This is an extra 15 per cent tax on your concessional contributions or the amount above $250,000 – whichever is lesser.

You can withdraw your superannuation when 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

 

Details  
Compare your product with the big 4 banks, or add more products to compare
As seen on