Did you know...Over a 40 year working life, Australians could be more than 24% better off in an industry super fund, based on existing fee structures*
Why you should join
Industry Super Funds – Winners on all counts
Industry Super Funds began over 20 years ago, and today look after the superannuation needs of more than 5 million hard working Australians. What makes Industry Super Funds such a popular choice?
Here’s 5 top reasons:
Strong performance^
Industry Super Funds have consistently produced strong returns for their members. Over the five year period to 31 March 2008, SuperRatings net benefit testing showed that Industry Super Funds on average delivered $14.70 in earnings for every dollar taken out in fees, while Retail Master Trusts on average delivered only $5.70.^
Over a lifetime, these figures could add up to thousands more for an Industry Super Fund member.
Low fees*
The fees you pay can greatly affect your final retirement payout. On average, Industry Super Funds charge less fees than the average Retail Master Trust. SuperRatings, an independent ratings and research company concluded that over a 40 year working life, Australians could be more than 24% better off in an industry super fund, based on existing fee structures*. This is equivalent to having $124,343 more (in today’s dollars) in their superannuation account at retirement.
Over a typical working lifetime, this difference greatly affects the lifestyle you can lead in your retirement.
No commissions
Industry Super Funds simply DO NOT PAY COMMISSIONS to advisors, financial planners, sales agents or insurance companies. They are designed exclusively for the benefit of members and are run only to profit members.
Outstanding service
We take great pride in the level of service we provide our members. That’s why our services don’t stop at providing an excellent place for your superannuation. Other services you can access through your chosen industry super fund could include:
- A wide range of superannuation investment strategy options
- Great value personal insurance options (e.g Death, Total & Permanent Disability and Salary Continuance)
- Low cost banking with Members Equity Bank
- Highly affordable financial planning from Industry Fund Financial Planning
- Low cost non super investment products
The awards tell the story
SuperRatings’ prestigious “Fund of the Year” award has been won by an Industry Super Fund every year since its inception. In addition, SuperRatings award an annual ranking for many Australian funds, based on their overall products, service, and especially the value for money provided to their members. Of the 29 funds that received SuperRatings’ Platinum Ranking in 2008 (indicating the best value for money funds), most were Industry Super Funds.
The message is clear, get with an Industry Super Fund and you could be making a lifetime of difference to your final retirement payout.
^Note: Comparisons use an average of total fees charged and an average of actual investment returns for the default investment option of a sample of 16 Industry Super Funds and 15 Retail Master Trusts over 5 years to 31 March 2008 (source SuperRatings, commissioned by IFS). The modeling is based on various assumptions.
Differences in fees or performance may change in the future and this would alter the outcome. Past performance is not a reliable indicator of future performance.
*Assumes initial salary of $50,000 and initial income of $50,000. Modelling commissioned by Industry Fund Services Pty Ltd. The modelling is based on various assumptions not all of which are shown here. Click here to view the assumptions and further information.