MySuper dashboard

MySuper is a simple and cost‑effective default superannuation product that have a simple set of features. Unless you have made direct investment choice in your super it is likely you will have a MySuper product already.

The product dashboard is intended to provide key information about MySuper products in a standardised manner to allow consumers to easily compare products and make informed choices.

For more information on how to compare MySuper investment options go to ASIC’s MoneySmart website.

Dashboard explanation and examples

Fund details as at 30 June 2017. All figures are per annum unless stated otherwise. This data only includes MySuper products
Fund Division Investment Return target % + CPI 1 Fees 2 Risk 3 1 year return 4 2 year return 4 3 year return 4 5 year return 4 10 year return 4 Return vs target 5
Super Fund A Lifetime super Lifestyle 1980s 4% $700 Medium to High 10% 8% 7% 8.5% 6% See link
Super Fund B Lifetime corporate Balanced 3% $550 Medium to High None None 3% None None See link
Super Fund C MySuper Balanced 4% $450 Medium to High None None None None None See link

Division

Some super funds have numerous divisions depending on how you join. For example if you look at Super Fund B in the table above the division Lifetime Corporate means that this is a corporate plan. To join that plan you would normally need to do this through your employer. Some divisions are not open to everyone. To look at MySuper products that generally have no joining restrictions click here.

Investment

This is the name of the MySuper investment product and usually is linked to the type of investment it is. Super Fund A in the table is named lifestyle 1980s product. This product is for people who were born in the 1980s and is what is referred to as a lifecycle product. This investment will generally begin with a higher level of growth assets in your younger years and then automatically transation to defensive assets as you get older. In contrast the balanced option for Fund B is not just restricted to people in the 1980s and will not automatically adjust the ratio of growth and defensive assets.

Return Target

The return target is an estimate of the expected return above inflation (after fees and costs) over a ten year period. CPI stands for Consumer Price Index, which is used as a measure of inflation. The return is after all fees and taxes for a member that has a $50,000 super balance, however does not include insurance fees, activity fees and advice fees. The return target does not constitute a forecast or guarantee of future performance or future rate or return. To see how a product is performing against its target see Return vs Target.

Fees

This is the annual fees for the investment option. This amount includes investment fees and administration fees, but excludes insurance fees, activity fees and advice fees. The fees are based on a representative member which is a balance of $50,000 for the entire period.

Risk

The Standard Risk Measure is used across super funds to help members compare the risk levels of investment options. The standard risk measure estimates the number of negative annual returns over any 20 year period:

Very Low - Less than 0.5
Low - 0.5 to less than 1
Low to Medium - 1 to less than 2,
Medium - 2 to less than 3 years,
Medium to High - 3 to less than 4 years,
High - 4 to less than 6 years,
Very High - 6 or greater

Return

The net return is the average annual return over the period specified period noted at the top of the table after taxes, administration fees and the investment costs for a member with a balance of $50,000 for the entire period.

Funds are normally required to state returns over a 10 year period if the fund has been offered for that long. In the case of Fund A in the table it has been offered for 10 years so there is a 10 year return. You will also see that there are other periods avaiable in the return i.e. 1 year, 2 year etc. Some funds will provide details of their return for each year over the last 10 years. If this is the case a time weighted return (TWR) is used to calculate the other relevant periods. This is not a requirement of the MySuper Dashboard, however we have done this to allow a greater comparison of funds.

In the case of Fund C there is no return data available. This can be the result of the fund just being offered, which mean they have been in operation less than one year. It may also mean that a fund in their MySuper dashboard have only provided a four year return. At this point we only present one, two, three, five and ten year returns. You are still able to view the funds four year return by clicking on the link in return vs target.

Return vs Target

Comparison over a ten year period if available of how the fund has performed against its return objective. Please see the dashboard link for the super fund provider to view the comparison.

SuperAlbert tradings as Super Wealth Tracker Pty Ltd only provides factual information based on the MySuper product dashboard that can be found on each fund’s website. SuperAlbert is not responsible for omissions or errors that a fund may publish in the super dashboard. If at anytime there is a discrepancy in the data between SuperAlbert and the fund, we recommend that you rely of the data provided by the fund directly. This information is not intended to imply any recommendation or opinion about a financial product. If you require financial advice we recommend seeing a licensed financial adviser.