Low fee super designed for young Australians

The "Super Zig Zag of Death"

One of the biggest financial problems young people face is super fees eroding low super balances to zero.
Lots of young people get their first job over the summer holidays. Most will just leave it up to their boss to choose a super fund for them.
At the end of the holidays they might have a few hundred dollars in their super account. The super fund then charges them fees to manage their account. Because their balance is low compared to the fees charged, the fees and other costs can erode the account to zero.
The young person can end up with nothing!
This can repeat with each summer job, especially if they open a new fund with every new job.
Each summer a new account is opened, a small balance is deposited, but it is eventually eroded back to zero. We call it the super "Zig Zag of death". And it's a common problem for young Australians.
Our solution is zero fees for balances under $1,000.
After that, other fees and costs apply – see Section 6 Fees and Costs of our PDS.

Transparent Fees

We believe in transparent fees. Our standard fees are for balances over $5,000 and are $78 and 0.99% p.a. Other fees and costs can apply – see Section 6 Fees and Costs in our PDS.
This example is illustrative only.
Assumptions for other funds with fees – pink line
  • Student starts new job every Christmas and earns $261 of super, working 20 hours per week for 6 weeks.
  • Student is charged fees of $78 p.a. and 1.03% to manage their super. This is the median fee for MySuper funds as per SuperRatings. Fees are deducted before investment earnings.
  • Student is auto-enrolled in life insurance and is charged $58 p.a. for this cost. The life insurance cost is an approximation based on a comparison of a number of super funds performed by Chant West, that Student Super commissioned. The estimated insurance cost is based on the cost for $50,000 of death and TPD cover for a 21 year old blue collar male and is an approximate figure only.
  • Student earns 5% p.a. investment return which is the 10 year median return for Growth funds per Chant West, as at 30 June 2017.
Assumptions for Student Super – blue line
  • If the student was with Student Super they are assumed to have been charged $0 to manage their account and their balance is invested in cash which is assumed to return the RBA cash rate which is 1.5%.

Zero fees for zero balances too

This means you can open a super account well before you get your first job. You'll be prepared and look organised on your first day and save your employer from having to open a new account for you.

Questions you may have

What happens if my balance is above $1,000?

We provide a 50% discount to our weekly administration fee for all members with a balance between $1,000 and $4,999.
So you pay $39 p.a. and 0.99% of your account balance.
Other fees and costs apply – see Section 6 Fees and Costs of our PDS.

What happens if my balance is above $5,000?

Balances over $5,000 are charged $78 and 0.99% p.a.
These are the main fees. Other fees and costs apply – see Section 6 Fees and Costs of our PDS.

Do you charge me for insurance?

One of the ways we keep your fees low is by not providing death and disability insurance. Premiums will not be deducted from your account balance, and you will not have insurance cover as part of your super.
Insurance premiums increase the amount you pay and can lead to faster account erosion for people with low balances.
The Minister for Revenue and Financial Services, Kelly O'Dwyer MP, recently made a speech about this issue of insurance premiums negatively impacting members with low super balances.
You should consider your personal circumstances as to whether Student Super is appropriate for you.