QSuper | Low-fee super fund option

QSuper Lifetime is a lifetime account that readjusts your investment mix as you get older.

QSuper's default super product, QSuper Lifetime, is a low-fee MySuper authorised product which helps you to save for your retirement. It automatically adjusts your mix of investments as you get older so you don’t have to worry about switching accounts. Alternatively, you can also take a more active role and choose from a range of investment options instead of the Lifetime fund, ranging from lower risk/lower return to higher risk/higher return. QSuper allows you to monitor and manage your super anytime online or via the mobile app.

Alison Banney

Last Updated Jan 20, 2021

17.11%

Past performance - 1 year

8.61%

Past performance - 5 Years

$360

Annual fees on $50k balance

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Details

Details

Product Name	QSuper Lifetime
Past performance - 5 Years	8.61%
Annual admin fee	0.16% of balance p.a.
Insurance included	Death,TPD
Number of members	621,000

Performance figures quoted on this page are correct to June 2021, according to Chant West. Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.

Alison Banney

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Alison Banney is the banking and investments editor at Finder. She has written about finance for over 8 years, with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. She has previously worked at Westpac, and has written for several other major banks including BCU, Greater Bank and Gateway Credit Union. Alison has a Bachelor of Communications from Newcastle University, with a double major in Journalism and Public Relations. She has ASIC RG146 compliance certificates for Financial Advice, Securities and Managed Investments and Superannuation. Outside of Finder, you’ll likely find her somewhere near the ocean.

What are the key features of QSuper?

Automatic death and TPD insurance. The automatic cover you receive will depend on your employment arrangements and your age. You can also opt out of insurance if you don't need it.
Automatically adjusts to meet your stage in life. The default MySuper option (QSuper Lifetime) is managed for you, with the investments changing over time in line with your age.
Pre‑mixed investment options. If you don't opt for the QSuper Lifetime investment option, you can choose between a range or pre-mixed options including a socially responsible option.
Self-invest directly in shares, ETFs and term deposits. If you want to be more hands-on with your super you can invest in a range of single asset options.
Manage your super online or via the app. Keep track of your super, receive push notifications, make contributions and change your investment options online 24/7 using the member portal online or via the QSuper mobile app.
Consolidate your super. You can ask QSuper to search the ATO for any other super you may have when you complete the application form.
Online Advice available to members. QSuper Members can easily receive online advice anywhere, anytime, in just 15 minutes.

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QSuper investment options

QSuper Accumulation offers four ways to invest depending on how hands-on you want to be with your super. These options are detailed below:

When you apply to become a QSuper Accumulation member the fund will automatically place you in the Lifetime (MySuper) option. This product will manage your super for you, automatically adjusting you to a more conservative mix of assets such as fixed income and cash, and away from growth assets such as shares and property, as you get older and your account balance changes. Lifetime uses a lifecycle investment approach so you have a super strategy tailored to your age and Lifetime balance:

Outlook – when you’re under 40
Aspire 1 - when you're 40-49 and have less than $50,000 invested
Aspire 2 - when you're 40-49 and have $50,000 or more invested
Focus 1 - when you're 50-57 and have less than $100,000 invested
Focus 2 - when you're 50-57 and have $100,000 to less than $250,000 invested
Focus 3 - when you're 50-57 and have $250,000 or more invested
Sustain 1 - when you're 58 or over and have less than $300,000 invested
Sustain 2 - when you're 58 or over and have less than $300,000 invested

Age	Risk level	Three-year average return*	Asset allocation
<40	Outlook: (any balance): Medium to High	7.02%	Outlook: Cash 0-15% Fixed interest 0-35% Real estate 0-25% Equities 5-65% Infrastructure 0-25% Commodities 0-20% Alternatives 0-30%
40-49	Aspire 1: (<$50k): Medium to high Aspire 2: (>$50k): Medium to high	Aspire 1: 7.15% Aspire 2: 6.19%	Aspire 1: Cash 0-15% Fixed interest 0-35% Real estate 0-25% Equities 5-65% Infrastructure 0-25% Commodities 0-20% Alternatives 0-30% Aspire 2: Cash 0-20% Fixed interest 10-60% Real estate 0-25% Equities 5-50% Infrastructure 0-25% Commodities 0-20% Alternatives 0-30%
50-57	Focus 1 (<$100k): Medium Focus 2 ($100k-$200k): Medium Focus 3 (>$250k):Medium	Focus 1: 6.12% Focus 2: 5.54% Focus 3: 4.94%	Focus 1: Cash 0-20% Fixed interest 10-60% Real estate 0-25% Equities 5-50% Infrastructure 0-25% Commodities 0-20% Alternatives 0-30%	Focus 2: Cash 0-25% Fixed interest 20-70% Real estate 0-20% Equities 0-45% Infrastructure 0-20% Commodities 0-20% Alternatives 0-35%	Focus 3: Cash 0-30% Fixed interest 30-75% Real estate 0-20% Equities 0-45% Infrastructure 0-20% Commodities 0-20% Alternatives 0-35%
58+	Sustain 1 (<$300k): Low Sustain 2 (>$300k): Very low	Sustain 1: 4.41% Sustain 2: 3.16%	Sustain 1: Cash 40-75% Fixed interest 0-35% Real estate 0-20% Equities 0-45% Infrastructure 0-20% Commodities 0-20% Alternatives 0-35% Sustain 2: Cash 50-90% Fixed interest 0-35% Real estate 0-20% Equities 0-45% Infrastructure 0-20% Commodities 0-20% Alternatives 0-35%

If you’re after a pre-mixed investment option offering diversification across asset classes, you can choose from QSuper's Diversified options – Moderate, Balanced, Aggressive and Socially Responsible. The Socially Responsible investment option is managed by AMP Capital Investors through its Responsible Investment Leaders Balanced Fund (RIL), and will avoid companies operating within sectors recognised as having a high negative social impact. The fund will avoid exposure to companies involved with the manufacturing of tobacco, nuclear power, gambling, alcohol and pornography and will seek to invest in companies with strong ethical, environmental and social values.

Product	Risk	Five-year return*	Target asset allocation
Moderate	Low	4.90%	Cash 40-70% Fixed interest 2.5-17.5% Real Estate 0-10% Equities 12.5-27.5% Infrastructure 0-10% Commodities 0-7.5% Alternative assets 0-12.5%
Balanced	Medium	7.99%	Cash 0-2%5 Fixed interest 5-35% Real Estate 0-20% Equities 25-55% Infrastructure 0-20% Commodities 0-15% Alternative assets 0-25%
Aggressive	Medium to high	8.71%	Cash 0-15% Fixed interest 5-35% Real Estate 0-20% Equities 25-55% Infrastructure 0-20% Commodities 0-15% Alternative assets 0-25%
Socially Responsible	High	4.99%	Cash 0-15% Fixed interest 0-35% Real Estate 0-10% Equities 35-92% Infrastructure 0-10% Commodities n/a Alternative assets 0-6%

If you want to build your own strategy, you can use QSuper’s single asset class Single Sector to design a portfolio. You can choose to invest in a mix of options – cash, bonds, Australian shares and International shares, or combine them with the Diversified, Lifetime and/or Self Invest options.

Product	Risk	Five-year return*	Asset allocation
Cash	Very low	1.76%	Cash 100%
Diversified Bonds	Low to medium	3.63%	Cash 0-10% Fixed interest 90-100%
Australian Shares	Very high	6.26%	Cash 0-10% Australian Shares 90-100%
International Shares	Very high	6.94%	Cash 0-10% International Shares 90-100%

*Performance and asset allocation figures correct as at December 2018. Past performance is not an indicator of future performance.

For those of you who want to get really hands-on with your super, QSuper offers Self Invest – an option which allows you to add term deposits, ASX 300 shares and/or exchange traded funds (ETFs) into the mix and manage it entirely online.

Product	Risk	About
Term Deposits	Low	You can choose an investment term ranging from 30 days to 365 days. Term deposits cannot be broken, except in special circumstance.
ASX 300 Shares	Very high	You can choose to invest in the top 300 Australian shares (by market capitalisation and liquidity).
ETFs	Very high	ETFs offer a way to invest in a portfolio of investments, are similar to managed funds and can be traded like shares on the Australian Securities Exchange.

What are the fees?

QSuper Accumulation has a number of fees and other costs which will be deducted from your account on a regular schedule. These fees relate to the administration of your account and the management of your investments and are presented as a percentage of your balance. See the example below for fees applied on a balance of $50,000 in the default Lifetime aspire 1 investment option.

Example of annual fees and costs on $50,000 in QSuper Lifetime Aspire 1 account

Investment fees including Indirect Cost Ratio
Administration fees	0.16%
Total	$360

Other costs may be charged for additional services including personal financial advice and insurance premiums. Within the Lifetime option, there is a difference in fees depending which group you fall into. QSuper says the difference in fees reflects the cost of managing the assets. Click below to see the fees applied for each different investment option.

Product	Total fee
Lifetime: Outlook	1.05% p.a.
Lifetime: Aspire 1 and 2	0.90% p.a.
Lifetime: Focus 1, 2 and 3	0.79% p.a.
Lifetime: Sustain 1 and 2	0.57% p.a.
Diversified: Moderate	0.60% p.a.
Diversified: Balanced	0.95% p.a.
Diversified: Aggressive	1.02% p.a.
Diversified: Socially Responsible	1.05% p.a.
Single Sector: Cash	0.22% p.a.
Single Sector: Diversified Bonds	0.52% p.a.
Single Sector: International Shares	0.28% p.a.
Single Sector: Australian Shares	0.24% p.a.

*Fees correct as of January 2019.

Other fees and costs

Advice fee via QInvest, if you agree with your financial adviser to pay a fee for the service. QInvest will let you know up front what the advice will cost and will also provide you with a Statement of Advice which details all fees.
Insurance premiums if you have insurance cover in QSuper.

*For a more detailed breakdown of fees and charges always read the PDS available on the website.

What insurance cover does QSuper offer?

As a QSuper Accumulation member, you will receive automatic death and total and permanent disability cover, and some members will also receive default income protection cover. What cover you automatically get (and how much) is determined by your employment arrangements and your age.

Summary of default insurance as included in the QSuper PDS document.

Situation	Default death cover	Default TPD cover	Default IP cover
I work for the Queensland Government on a permanent full-time or part-time basis and make standard contributions.	✓	✓	✓
I work for a default employer or the Queensland Government on a permanent full-time or part-time basis and don’t make standard contributions.	✓	✓	✓
I am a police officer with the Queensland Police Service.	✓	✓	✓
I work for a default employer or the Queensland Government as a casual employee, or my account was opened as a result of a family law split.	✓	✓	Must apply
I have an Income account and an Accumulation account is opened for me as a result of a contribution (including consolidation from another fund).	✓	✓	Must apply
I have applied for an Accumulation account direct with QSuper (not through my employer).	✓	✓	Must apply

If you're looking for more information on the different insurance covers offered by QSuper take a look at our detail reviews on QSuper income protection, QSuper TPD cover and QSuper Life insurance.

What you pay for insurance depends on your age, employment arrangements, and how much cover you have. For example you could pay between $0.43 and $1.28 a week for Death cover, and between $0.03 and $3.18 a week for TPD cover. Insurance offered through QSuper is provided by QInsure.

Note

There may be exclusions and/or restrictions which apply to your insurance cover. Check the “Accumulation Account Insurance Guide” available via the QSuper website.

How do I join QSuper?

A spare ten minutes
Your personal details, including your name, address, date of birth and contact information
Your Tax File Number (it's unnecessary to give your super fund your TFN, but without it your fund won’t be able to accept certain types of contributions from you and your benefit payments may be taxed at a higher rate than would otherwise apply)
Your employer’s details

Nominate your beneficiaries

Once you sign up for an account you’ll be asked to nominate your beneficiaries. The person/s nominated will receive your super and any insured death benefit if something happens to you. You can nominate one or more dependents.

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4 Comments

Navzad
September 18, 2019

Hello,

I’m on a working/holiday Visa and am quite inexperienced with money and tax lingo. I’m really just looking for a basic, trustworthy super account for my stay while I’m here. All the different options make me a little dizzy.

Can someone assist me with the kind of account I should open up?

Nikki
September 19, 2019

Hi Navzad,

Thanks for getting in touch!

You can find super fund options using our comparison table. It should allow you to compare the features and benefits of each super fund provider based on its yearly performance. This way it will be easier for you to see which provider fits you best. If you need further help, a quick guide on how to compare super funds is also stated on the page.

You can also click the compare box beside each provider and compare up to 4 options side by side for easier comparison. As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying.

When you are ready, press the ‘Go to site’ button to apply.

Hope this helps!

Best,
Nikki

richard
October 22, 2017

Hello.
I am interested in opening a super account where I can consolidate all of my super funds into the one fund.
Can you please let me know of any funds in Australia where I can transfer my UK based super fund (along with my other Australian based funds) into a single super account?
Thank you for your kind assistance.

finder Customer Care

Joanne
October 23, 2017

Hi Richard,

Thanks for reaching out.

You can check out our review on SMSF administration and compliance to give you additional information on managing your super fund.

Visit our list of super funds to compare different brands side by side using our comparison table. The link will allow you to assess which super fund would best suit your needs. Managing your own super gives you greater access and control as to how and where you should invest it.

Please ensure you review the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

Cheers,
Joanne

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QSuper | Low-fee super fund option