How to join
How to join an Industry SuperFund
Industry SuperFunds are run only to benefit members; they have low fees, have never paid commissions to financial planners and consistently outperform retail (bank owned) funds*. Here’s how to join up and enjoy all these benefits in just 3 easy steps: choose, notify, rollover.
Step 1 - Choose your Industry SuperFund
Firstly you need to choose the Industry SuperFund that you want to join. To help you with this, we have an information page for the 15 Industry SuperFunds and a fund comparator tool on this website. Once you’ve decided, just visit the website of your chosen fund and complete a membership application form. These days most super funds make it easy to join with an online form on their website.
Step 2 - Notify your employer
As soon as you join the fund, notify your employer and ask for a ‘standard choice’ form so they can pay your super into your new fund. If you are joining an Industry SuperFund, you can fill out our Choice of Superannuation Fund form online, then give it to your employer.
If you’re self-employed, just follow the links on your new fund’s website.
Step 3 - Rollover your existing super
Finally, to avoid paying multiple administration fees you may consider rolling over your existing super, held in other funds, to your new Industry SuperFund.
But first you should check: some funds can bite you with nasty exit fees and that you won’t lose any insurance benefits before you leave your old fund.
To transfer your super from your old fund, just fill in a ‘rollover’ or ’transfer’ form, on your new super fund’s website and they’ll do the rest.
And of course, if you have any questions along the way, simply contact your new fund.
* Past performance is not a reliable indicator of future performance and should never be the sole factor considered when selecting a fund. Comparisons modelled by SuperRatings, commissioned by ISA and shows average differences in net benefit of the main balanced options of 16 Industry SuperFunds and retail funds tracked by SuperRatings, with a 3 (144 funds), 10 (73 funds) and 15 (45 funds) year performance history, taking into account historical earnings and fees – excluding contribution, entry, exit and additional advisor fees – of main balanced options. Outcomes may vary between individual funds. Modelling as at 30 June 2018. See www.industrysuper.com/assumptions for more details about modelling calculations and assumptions. Consider a fund’s Product Disclosure Statement (PDS) and your personal financial situation, needs or objectives, which are not accounted for in this information, before making an investment decision. ISA Pty Ltd ABN 72 158 563 270 Corporate Authorised Representative No. 426006 of Industry Fund Services Ltd ABN 54 007 016 195 AFSL 232514.
Assumes initial starting balance of $50,000 and initial salary of $50,000.