About CLUB SUPER
CLUB SUPER is an "industry" fund that has been established for the sole benefit of members. It is a PROFIT FOR MEMBERS Fund.
It is specifically designed for employees in the Queensland club industry. CLUB SUPER has benefits such as 24 hours/day, 7 days/week 100% income protection cover that other funds servicing the club industry can't compete with. If your fund is better than CLUB SUPER, then we'd like to know about it!
Click here if you would like to download a form to assist you in comparing CLUB SUPER.
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CLUB SUPER Benefits
Fees and costs
Insurance premiums
Interest rates
CLUB SUPER Benefits
Check out CLUB SUPER's benefits below:
- Insurance coverage when you are unable to work due to sickness or injury of up to 100% of salary plus 9% superannuation guarantee contributions for up to 2 years.
- Competitive death insurance rates at a low $1 per unit premium cost.
- CLUB SUPER has low administration costs and has provided solid returns averaging 10.03% for the last five years (Balanced Option) to 30 June 2008.
- CLUB SUPER offers the choice of four investment options:
- Cash
- Capital Stable
- Balanced
- Growth
- CLUB SUPER through Members Equity provides access to home loans, credit cards, personal loans and saving accounts - all at competitive interest rates.
- You can make additional member contributions "free" of charge.
- CLUB SUPER accepts Salary Sacrifice contributions - An arrangement between an employee and employer where a certain amount of the employee's gross salary is paid direct into the employee's superannuation account. This reduces the employee's gross taxable income (therefore reducing the employee's personal income tax payable) as well as enhancing retirement savings. Salary Sacrifice arrangements are recognised by the Taxation Office as employer contributions and therefore taxed at 15% when received by CLUB SUPER. We recommend that you consult an Independent Financial Planner to determine if Salary Sacrifice is a viable option for you.
- CLUB SUPER has over $250 million in investments and more than 36,000 members.
- CLUB SUPER offers competitive administration fees - $1.50 per week + up to 0.30% of assets.
- CLUB SUPER is the only Queensland superannuation fund designed for the benefit of employees in the Queensland club industry.
- CLUB SUPER provides excellent insurance.
- CLUB SUPER's Trustee is made up of an equal number of representatives from employer organisations and employee unions in the club industry.
- CLUB SUPER has excellent ancillary benefits for members:
- Banking through Members Equity, (including home loans, credit cards, personal loans and savings accounts).
- Discounted private health insurance through Manchester Unity.
Fees and Costs
| Type of fee or cost | Amount | How and when this is paid |
| Fees when your money moves in or out of the Fund. | ||
| Establishment fee: This is a fee to set up your account. | Nil | Not applicable. |
| Contribution fee: This is a fee charged on the initial and subsequent contributions made to the Fund. | Nil | Not applicable. |
| Benefit payment fee: This is a fee charged for each withdrawal made from the Fund. | Nil | Not applicable. |
| Termination fee: This is a fee for when you finally close your account. | Nil | Not applicable. |
| Management costs | ||
| Account keeping fee: This fee covers the general administration of the Fund. | $1.50 per week | This fee is deducted weekly and reported to you as at each 30 June review or when you exit the Fund. If your account balance is below $1,000, account keeping fees in excess of the interest credited generally will not be deducted. |
| Administraton fee | Up to 0.30% of assets | This amount is already deducted from your investment earnings before they are credited or debited from your account. |
| Operational Cost: The fees and costs for managing your investment. Comprises Operational and Investment management costs of the Fund not deducted directly from your account. The amount you pay for specific investment options is shown below. | 0.68-0.99% p.a. ($6.80 - $9.90 per $1000)** | Percentage of Fund assets, deducted from the Fund's investment earnings before the interest crediting rate is determined. |
| Additional service fees | ||
| Switching fee: This fee is charged for switching between investment options offered by the Fund. | Nil |
There is no fee for your first switch in each financial year. This fee is deducted from your account balance at the time of your second and subsequent switches in the same financial year. |
| Lost member fee: This fee is charged if a piece of correspondence is returned "undeliverable" and we need to use our search agency to locate you. | $33* | This fee is deducted from your account balance at the time your address is updated. |
| Family law fees (on separation and divorce): Enquiry fee: This fee is charged to process requests for information from your spouse (in Family Law Act form) - there is no fee charged if you request information. Splitting fee: This is the fee charged for splitting an account under the Family Law Act legislation (generally divided equally between you and your spouse). |
$110 $100 |
This is payable by cheque by your spouse at the time of processing the request for information. This is deducted from your account balance and your spouse's account balance at the time of processing the split. |
* Applicable from 1 July 2004.
** The table below provides a break up of these costs by investment option.
| Investment Option |
Investment management fees % p.a of funds under management.* |
| Cash | 0.68 |
| Capital Stable | 0.83 |
| Balanced | 0.99 |
| Growth | 0.97 |
Insurance Premiums
| Insurance premiums: | per unit |
| Death | $1.00 per week |
| SalarySafe (Income Protection) |
Employer's Superannuation Guarantee
contribution received by CLUB SUPER multiplied by 11.57% (approximately 1% of your ordinary salary) |
| Death Insurance benefit (from 1 July 2006): | |
| Age next birthday | Death Cover per unit |
| Up to 40 | $110,000.00 |
| 41-45 | $56,000.00 |
| 46-50 | $30,000.00 |
| 51-55 | $15,000.00 |
| 56-60 | $8,000.00 |
| 61-65 | $5,000.00 |
| 66-70 | $2,000.00 |
Maximum of 10 units of Death Insurance benefits |
|
| SalarySafe benefit (income protection): |
100% of Income (including overtime, shift penalties and allowances) Plus Payment of a superannuation contribution to your CLUB SUPER account while on claim (up to a maximum of 9% of your salary) |
| Total & Permanent Disablement benefit (from 01 December 2006): | |
| Age next birthday | Total & Permanent Disablement benefit |
| Up to 40 | $110,000.00 |
| 41-45 | $56,000.00 |
| 46-50 | $30,000.00 |
| 51-55 | $15,000.00 |
| 56-60 | $8,000.00 |
| 61-65 | $5,000.00 |
| 66-70 | $2,000.00 |
| Total & Permanent Disablement (TPD) insurance cover is an additional benefit provided at no additional cost to all members with Death Cover insurance. The TPD benefit may be payable if you are considered to be totally and permanently disabled after the minimum waiting period of six months. Payment of the benefit is subject to Insurer approval. | |
Interest Rates
Declared interest rates: (net of tax charges) |
Balanced Option % p.a. |
Cash Option* % p.a. |
Capital Stable Option* % p.a. |
Growth Option* % p.a. |
| 30/06/1995 | 6.00 |
N/A |
N/A |
N/A |
| 30/06/1996 | 7.50 |
N/A |
N/A |
N/A |
| 30/06/1997 | 19.00 |
N/A |
N/A |
N/A |
| 30/06/1998 | 10.00 |
N/A |
N/A |
N/A |
| 30/06/1999 | 7.80 |
N/A |
N/A |
N/A |
| 30/06/2000 | 13.00 |
N/A |
N/A |
N/A |
| 30/06/2001 | 6.50 |
N/A |
N/A |
N/A |
| 30/06/2002 | -0.70 |
N/A |
N/A |
N/A |
| 30/06/2003 | 2.75 |
N/A |
N/A |
N/A |
| 30/06/2004 | 13.00 |
4.40 |
6.90 |
16.40 |
| 30/06/2005 | 14.50 |
4.70 |
10.30 |
14.70 |
| 30/06/2006 | 14.80 |
5.10 |
7.00 |
17.80 |
| 30/06/2007 | 17.50 |
5.50 |
9.00 |
18.50 |
| 30/06/2008 | -7.60 | 6.20 | 1.20 | -10.50 |
| 5 year compound average |
10.03 |
5.18 |
6.83 |
10.77 |
* No information exists for the Cash, Capital Stable and Growth options prior to 30 June 2004 as
CLUB SUPER first offered these options from 1 July 2003. The Average for these options is the compound average of the annual returns since inception. Past investment performance is not necessarily an indication of future performance.