Investment
performance |
 |
The Active Super Lifestage Product investment options outperformed the performance objectives and produced competitive returns. |
| Fees and costs |
 |
Our total fees are in line with the APRA fee standards, although slightly higher than the industry median. This is consistent with the services our members want and our active investment management approach. We are actively working to reduce fees and costs. |
| Insurance |
|
Active Super protects its members with industry leading insurance offerings that are tailored to members’ age and gender. In addition, we have significantly lower insurance premiums when compared to the industry standard to ensure your super balance is not unnecessarily eroded. |
| Options, benefits and facilities |
|
We are known for our excellent personalised member service which is delivered through a comprehensive range of channels, including our Australian contact centre and client relationship managers & financial advisers (city and regionally based) to support members. |
| Operating costs and scale |
|
Overall, Active Super is delivering equitable operating cost outcomes for members based on our scale and services delivered. Market driven consolidation has slightly reduced our competitive position. |
Please see the supporting data and analysis for each factor below.
Investment performance
Our Active Super Lifestage Product passed the APRA performance test based on the product structure at 30 June 2021 (see below). In line with the Trustee’s obligation for continual performance review and ensuring maximum performance for Members, the new Active Super Lifestage Lifestage Product was introduced on 1 October 2021. This product adopts an age-based strategy, where the investment option you are in changes to a lower risk investment the older you get (see table below for risk rating of the investment options). This manages your exposure to potential losses and reduces the risk of you being required to delay your retirement and/ or work longer.
Active Super Age-Based Investment Strategy as at 30 June 2021
Active Super Lifestage MySuper Product introduced 1 October 2021
Active Super Age-Based Investment Strategy investment performance versus investment objective benchmark
| Option name |
(Benchmark) Investment objective |
| High Growth |
3.5% net investment return per annum above CPI, measured over a rolling 10-year period. |
| Balanced |
3.0% net investment return per annum above CPI, measured over a rolling 10-year period. |
| Conservative Balanced |
2.0% net investment return per annum above CPI, measured over a rolling 10-year period. |
| Conservative |
1.5% net investment return per annum above CPI, measured over a rolling 10-year period. |
Source: Australian Bureau of Statistics, SuperRatings Pty Ltd – Fund Crediting Rate Survey 30 June 2021. (SuperRatings returns are calculated net of investment fees, tax and implicit asset-based administration fees. Explicit fees such as fixed dollar administration fees, contribution fees and switching fees are excluded.)
Investment Performance Assessment - Accumulation
Active Super’s MySuper Accumulation Scheme performance improved from 4 Leaves to 5 Leaves. The rating scale is based on weighted average performance across all four investment strategies over 1, 3, 5, 7 and 10 years.
Active Super Age-Based Investment Strategy returns
This table is sourced from APRA Quarterly Statistics 30 June 2021 (High Growth, Balanced,
Conservatice Balanced and Conservative).
Fees and costs
Active Super is committed to providing value-for-money services to members. Our fees reflect the active investment management approach to building investment portfolios and the high levels of service and support we offer to all members (see Options, benefits and facilities section below). We continue to review opportunities to reduce member fees evidenced by the 4.0% reduction in administration % fee in July 2021 (25bps to 24bps) and 14.3% over the last 4 years (28bps to 24bps). Active Super’s fees for administration and investments are the same across MySuper, Choice and Pension product offerings.
Active Super Lifestage Product fees and costs
This table is sourced from APRA Heatmap effective from October 2021 and shows fees from the new Active Super Lifestage Product.
Age-Based Investment Strategy fees as of 30 June 2021 versus industry average
This data compares the Active Super Age-Based MySuper product that was the default MySuper product at 30 June 2021. The Industry median is comprised of the average of industry options with similar risk profiles.
Data source: Chant West Fee Survey 30 June 2021
Insurance
Active Super insurance cover is designed to ensure that members are insured in a way that matches their requirements through the various stages of life. The table below outlines how the insurance cover has been designed at the different age brackets.
The trustee has also ensured that Death and TPD cover are at a competitive cost to members and has assessed the costs based on the various age brackets. The Industry standard is to aim for premiums that are less than 1% of salary. Active Super premiums are less than half the industry standard.
Lifestage insurance
Indicative representation of the amount insured at different stages of life.
Active Super premiums are significantly lower than the industry standard
Source: Active Super, estimated average salary per age bracket (gender based), vs premiums.
Options, benefits and facilities
Active Super considers that the services and benefits we offer are in line with our members' needs and requirements and appropriate for their best interests. The services detailed below are available to all MySuper, Choice and Pension Fund Members.
| Services Provided |
Description |
| Call Centre |
• Internally owned and managed, well resourced team
• Phone, email, webchat
• Australia-based
• Call answered in 14 seconds on average |
| Client Services Team |
• Services Employers and Members at their work place
• Member seminars |
| Financial Adviser Team |
• Well resourced team
• Intrafund and comprehensive advice services |
| Digital Services |
• Mobile app (balances, transactions, changing investment and insurance details)
• Online application
• SuperMatch2 services
• Webchat |
| Head and Regional Offices |
• Sydney, Newcastle, Wollongong, Parramatta, Tamworth, Orange, Wagga Wagga, Ballina |
Extensive Retirement Options
Active Super has an account-based pension which allows you to receive a pension (to add to your age pension from the government) which also allows a transition to retirement for those who want to ease into retirement slowly.
We also offer Guaranteed Fixed Term Income and Guaranteed Lifetime Income products for those who want a guaranteed payment for later in life.
| Products |
| Transition to Retirement (TTR) |
| Account-Based Pension |
| Guaranteed Fixed Term Income |
| Guaranteed Lifetime Income |
| Services Provided |
Client Satisfaction Rating (@ 30 June 2021) |
| Call Centre |
• Customer Service Satisfaction = 7.7/10
• Overall Satisfaction = 8.3/10
• Trust = 8.3/10
• Quality of Service = 8.4/10
• Call answered in 14 seconds on average
|
| Financial Adviser Team |
• Quality of Service = 8.4/10
• Overall Satisfaction = 8.3/10
• Trust = 8.3/10
|
Operating costs and scale
Active Super is classified as a medium sized fund with approximately 80,000 members and $14bn in FUM at 30 June 2021. We manage our operating costs prudently and in the best financial interest of our members as we are a profit to member fund. Fees collected are used to provide value for money services to our members. We have the right balance of size and scale to continue to provide you with the investment expertise and personalised services that our members have come to know and trust today and into the future, and we continue to look for ways to reduce operating costs to members.
Active Super operating expenses compared to industry median
Source: APRA Annual fund-level superannuation statistics June 2021
Active Super
We acknowledge the traditional owners and custodians of the land throughout Australia and pay respect to their Elders past, present and emerging.
