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StatewideSuper Employer Sponsored

Past 5-year return
6.32%
Admin fee
$78
Calculated Fees on 50k
$523
Compare
Access to in-house professional financial planning services.
Free member educational tools, newsletters, e-newsletters and retirement seminars.
Secure website access 24/7 via Statewide Super Online.
Free worksite visits.
Comprehensive death and disablement insurance options.
1 stand-alone Socially Responsive Investment option.
Statewide Super was established in 1986 to provide for the retirement needs of South Australian workers. The fund is a public offer fund and allows members from all industries to apply for membership. The fund was a finalist for the 2019 MyChoice Super of the Year award and is also Infinity Recognised, which is a result of its strong commitment to environmental and social principles.Statewide Super offers an investment menu of 6 Diversified options and 4 Single Sector options. The MySuper option outperformed the relevant SuperRatings Index over the 5 years to 30 June 2018.Fees are lower than the industry average across all account balances assessed. Members are entitled to one free investment switch per financial year, while and exit fee is charged for full and partial withdrawals. Statewide Super's insurance offering allows eligible members to apply for up to $5 million of Death cover and up to $3 million of TPD cover. 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, covering up to 85% of salary, is available following a 60 day waiting period. A great range of additional benefits are provided to members, including financial planning services, comprehensive banking products through ME Bank, discounted health insurance, as well as special offers through the Statewide Super's rewards program. Statewide Super Online further allows members to view and update account details, as well as perform transactions.
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Fees & fund features

Admin fee
Admin fee
$78
Administration fee (%)
Administration fee (%)
0.06%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
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
0.83%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$20
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
$78
Administration fee (%)
Administration fee (%)
0.06%
Indirect Cost Ratio (%)
Indirect Cost Ratio (%)
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
0.83%
Account size discount
Account size discount
Health insurance
Health insurance
Binding nominations
Binding nominations
Anti-detriment payments
Anti-detriment payments
Switching fee
Switching fee
$20
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
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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

 

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