VicSuper FutureSaver – PersonalSaver

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VicSuper FutureSaver – PersonalSaver

At VicSuper, customers can expect high growth opportunities and access to specialised superannuation products. 

Key points:

  • Both corporate and personal superannuation funds
  • Leading investment performance
  • Low administration fees 
  • Financial services and planning assistance

VicSuper’s Future Saver Personal Saver Offering

The VicSuper Personal Saver industry fund offers some of the most competitive features which include zero exit and switching fees along with low investment fees. The fund also comes complete with income protection and other insurances as part of your membership with VicSuper. 

This fund features the following options and perks: 

  • A predicted 5-year return of 8.74% 
  • Both financial advisory and planning services 
  • Death insurance and income protection insurance
  • Binding nominations
  • Discounts based upon fund sizes
  • No switching fees or exit fees

VicSuper Future Saver – PersonalSaver

  • 5-year returns of 8.74% 
  • Admin fees of $78
  • Annual fees on 50k investment of $563 

Key features:

  • Term deposits
  • Income protection inclusions
  • Online access and management
  • Death insurance
  • Financial advisory services

Joining VicSuper 

There are a few requirements that need to be met prior to signing up for VicSuper which include Australian residency requirements as well as a range of other employment requirements which are often not required by many other funds. These requirements include: 

  • Being an Australian resident
  • Being over the age of 18 years old
  • Having an income of at least $450 per month from an employer
  • Under 18s must work more than 30 hours a week earning $450 a month to qualify

If you’ve met all of these requirements, only then should you apply for VicSuper. You’re able to do this on the VicSuper website and by filling out a member application form based on the product most suited to you. There is also the option of calling VicSuper on 1300 366 216 for some more information and direction based upon your application or enquiry. 

VicSuper Investment Options

Once you’ve begun to deposit super funds into your VicSuper account you’re then able to move forward with investing or choosing and investment option. As the industry super fund has a range of different investment options you shouldn’t have much trouble determining the best option for you. 

There are nine investment options to choose from with VicSuper and we’ve outlined the most common recommended choices below: 

Balanced Option

Offering a mixture of growth and stability, the Balanced investment option allocates 62% of your funds to growth assets to ensure there is a limited level of volatility but also sustained medium to high growth. The asset classes include equities, property, fixed interest and more. The VicSuper website outlines that expected return is from 3.25% to 4.15% with their Balanced Option. 

Growth Option

For superannuation funds that require high growth, the Growth Option is designed to offer just that, with more than 75% of super fund assets invested in high growth assets. These assets include mostly equities along with minor investments in property, fixed interest and alternatives. The VicSuper website suggests 10-year growth is expected to reach 4.65% in most ideal situations. 

Socially Conscious Option

Australians and VicSuper members interested in investing in environmentally friendly options rather than traditional assets should turn toward the Socially Conscious Option. This investment option focuses on investing 62.1% of funds into vetted and socially responsible asset classes. The level of risk is relatively low and returns of 3.25% to 4.15% are expected over a 10 year period. 

Australian Shares

VicSuper’s high growth high risk option is the Australian Shares option. With 100% of funds being invested into growth assets on the Australian stock market there is a high risk of volatility but also growth. Expected return on investment is 5.15% over the course of 10 years with a risk factor of 7 or ‘very high.’ 

About The Fund

As a relatively new super fund, the VicSuper fund was founded in 1994 with a focus on offering Victorian public sector workers access to a superannuation fund. However, the fund has since transformed itself into an open super fund or a public super fund which means that any and all eligible Australians are able to become a VicSuper member. 

Unlike a few other super funds, VicSuper is a profit-to-member fund which essentially means that the fund only exists to benefit its members rather than itself. This works to maximise returns for all members and redirects assets and investments to spearhead growth rather than finance its own operations. 

The fund also works with its members through their entire cycle with VicSuper which means it offers financial services, asset-building services as well as education and retirement services. This ensures all members are comfortably converted from contributing members to retirees in the most simple way.

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