We are committed to assisting Financial Advisers in supporting their clients, by making it as easy as possible to obtain necessary information about Energy Super’s products, investments and services. In addition, Financial Advisers can also be provided with client account information (subject to authority to release information).
Energy Super is one of Australia’s leading industry super funds for the energy sector and we are committed to delivering products and services which are tailored to the unique needs of this sector. See our latest Annual Report.
Your clients will benefit from:
- low fees
- competitively priced insurance options
- Energy Rewards loyalty program
- access to their account anywhere, anytime through our mobile secure website
Our Products
Energy Super offers the following products to its members:
- Defined Contribution
- Defined Benefit (closed to new members)
- Transition to Retirement Income Stream
- Income Stream
- LifetimePlus
- Market Linked Pension
- Allocated Pension (closed to new members)
For more information on membership categories call the Energy Super Contact Centre on 1300 436 374.
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Fees
Energy Super Defined Contribution
Type of fee
Amount
How and when paid
Investment fee1
0.06% - 0.48% p.a depending on the investment option.
The investment fees accrue daily and are deducted from the unit price for the relevant investment option you are invested in.
Administration fee1
$1.00 per week fixed administration fee ($52 p.a. per member account).
PLUS 0.18% p.a. of the member account
The fixed administration fee is deducted monthly in arrears from your account (or when you close your account).
The percentage fee (indirect administration fee) is deducted from investment returns. This fee is capped at $900 p.a. for eligible amounts including your linked spouse accounts2.
Buy-sell spread
Nil.
Not applicable.
Switching fee
If you make a switch using a Change of Investment Choice Form, no investment switching fee is applied on your first switch each financial year. Any additional switches will cost $28. Investment switching is free if you make your switch through your Member Online account.
The fee is deducted from your account at the time of the switch.
Exit fee
Nil
Not applicable.
Advice fees
relating to all members investing in a particular MySuper product or investment option.
Nil.
Not applicable.
Other fees and costs2
Other fees and costs may apply depending on the services you use.
Indirect cost ratio1,4
0.00% - 1.03% p.a. depending on the investment option.
The costs included in the indirect cost ratio (ICR) are deducted from the unit price for the relevant investment option that you are invested in.
* For information on the Fees and Costs applicable to an Income Stream account please see the Energy Super Income Stream PDS.
1 From 1 July 2019, a 3% fee cap will apply to the total of all administration fees, investment fees and indirect costs for defined contribution accounts with a balance of less than $6,000. It will be applied by a rebate of any such fees in excess of 3% of your defined contribution/income stream account balance, calculated at 30 June each year or when you exit the Fund. The cap doesn’t include insurance costs and does not apply to Defined Benefit accounts.
2 See the Fees and Other Costs Guide for information about the cap on administration fee and linking your accounts.
3 See Fees and Other Costs Guide for information about other fees and costs.
4 Investment fees and Indirect cost ratios (ICRs) are derived from costs incurred in 2018-2019, and are based on the information available to the Trustee for that financial year. They include estimates where actual costs are not available. They include performance fees (where relevant). They do not include an amount for Property Operating Costs which are estimated to be between 0.00% and 0.12%, nor Borrowing Costs which are estimated to be between 0.00% and 0.09% depending on the investment option. The actual costs for this and future financial years may be different. Updated estimates are posted on our website from time-to-time when updated information becomes available. Actual costs for each year are disclosed in our Annual Report.
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Investment Performance
Investments can go up and down. Past performance is not necessarily indicative of future performance.
Click here for our latest performance figures.
For detailed investment commentaries click here.
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Insurance
Energy Super works with leading insurance providers to offer a range of competitively-priced insurance options and cover levels.
It is important to note that some employers have different insurance cover and cost arrangements through Energy Super. If this applies to your client please refer to their relevant Energy Super Corporate Product Disclosure Statement to determine their employer’s insurance arrangements.
Insurance cover options
* Death & Total and Permanent Disablement (TPD) cover: provides a lump sum to you or your beneficiary/ies in the event of your death, or on the diagnosis of a terminal illness or if you’re disabled to such an extent that you will no longer be able to work. Energy Super offers either units of insurance cover or a fixed-dollar amount of insurance. Members working for an Energy Super Employer may have default insurance cover and can elect to apply for more cover. It may also be possible to transfer a super benefit from another fund with the Death and/or TPD cover.
* Death Only cover: provides a payment to your beneficiaries if you die. Energy Super offer both units of insurance cover or a fixed-dollar amount of insurance cover up to a maximum of $10M. Furthermore, it may be possible for your client to transfer a super benefit from another fund with the Death and/or TPD cover, this may even be able to transfer the same level of insurance cover to us without having to provide evidence of your good health.
* Income Protection (IP) cover: Energy Super’s Income Protection (IP) insurance means members can still have a fortnightly income for up to 104 weeks and then until you reach age 65 if you choose - subject to meeting the eligibility requirements of the insurance policy. Standard Income Protection insurance (up to two years) pays the lesser of 90% of your income or the level of cover you received automatically or applied for, for the first 120 days of your benefit period. Then, for the remainder of your benefit period, the weekly benefit is the lesser of 80% of your income or the level of cover you received automatically or applied for. A superannuation benefit is also payable into your Energy Super account equal to the lesser of 10% of income or 10% of the benefit level for which you are insured.
For further information please see our Product Disclosure Statement.
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How to rollover
If your client is currently a member of Energy Super and has acquired a number of super accounts, transferring all the funds into the one Energy Super account is easy by using our Transfer Your Super eForm.
- Guides and tools to help your clients