Catholic Superannuation Review

Read Here for Our Catholic Superannuation Review:

Catholic Super is one of Australia’s premier providers of industry superannuation funds. It has over 75,000 members and manages more than $10 billion in funds.

Catholic Super was established in 1971 to provide support to the employees and staff of Catholic schools. It later opened its membership to all qualified Australians. Catholic Super is an industry fund, which means that all its profit and gains are returned to its members.

Benefits of a Catholic Super Fund

Here are the benefits that you can enjoy when you enrol in a Catholic Super investment product.

  1. You get exclusive access to Catholic Super’s MyLife MyFinance special banking offers, such as home loans with exclusively low rates, refinancing, investment loans, personal loans, and car loans. As a Catholic Super member, you can enjoy competitive saving accounts without fees, flexible term deposits, and low loan rates.
  2. You get expert financial advice from Catholic Super’s experienced and highly-qualified financial planners. You can join Catholic Super’s super seminars for more information on how to plan for your future and your retirement.
  3. You can apply for flexible insurance coverage through your super fund. Catholic Super offers three insurance coverage: Income Protection, Death and Total and Permanent Disability, and Death.
  4. You can manage your account online through MyLife Online, Catholic Super’s secure online portal. Through MyLife Online you can do the following:
  • View and update your account details
  • Transfer your other super into your Catholic Super
  • Manage your investment options
  • Update your insurance coverage
  • Change payment details for your pension account
  • Request for withdrawals from your pension account

Your Investment Options with Catholic Super

Catholic Super allows its members to pick a Managed Choice option that suits their needs and goals.

  • Aggressive (MySuper)

This is a high-risk investment product but can give you higher returns. Asset allocation is mostly on Australian Shares (34%) and Overseas Shares (34%). The rest is subdivided into Property, Private Equity, Growth Alternatives, Infrastructures, and Defensive Investments. To achieve profitable returns, the investment must be for at least 7 to 10 years.

  • Moderately Aggressive

This product is still considered as high-risk; however, it has lower earnings compared to the Aggressive product. The majority of asset allocation is still on Australian Shares (30%) and Overseas Shares (30%).

  • Balanced (MySuper)

This is Catholic Super’s default super for those who do not want to be bothered with making an investment choice. The investment period should be at least 5 to 10 years to achieve favourable gains. Asset allocation is as follows: Australian Shares (27%), Overseas Shares (27%), Fixed Interest (13%), and the rest is divided among Property, Infrastructure, and other assets.

  • Conservative Balanced

Returns are moderate for this moderately volatile product. The investment period should be at least 5 years to see some favourable gains. Asset allocation is 55% growth and 45% defensive.

  • Moderately Conservative

This product is less volatile compared with the previously discussed investment products. The recommended investment period is at least 3 years, and usually, target asset allocation is 40% growth assets and 60% defensive assets.

  • Conservative

This product is recommended for those who want to preserve their superannuation fund and have lower risk appetites. Target allocation is more on defensive assets at 75% and growth assets at 25%.

  • PositiveIMPACT

This is another high-risk product that allocates most of your investment in growth assets, such as Overseas Shares (55%) and Property (20%). The recommended investment period is at least 7 to 10 years.

You can also choose to build your own fund and invest directly in the following asset classes: Australian Shares, Overseas Shares, Property, Diversified Fixed Interest, and Cash.

What are your Retirement Options with Catholic Super?

You can use your super fund to give you a steady income when you retire. You can choose how much you will be paid and how often you want them. You can also make a withdrawal from your retirement account. These withdrawals will be tax-free if you are over 60.

Take control of your savings and your retirement with Catholic Super. You will get the best value for your money with this award-winning super fund.

 

Still thinking twice? Makes Cents lets you compare your options so you can find the best superannuation that fits your needs and outlook in life. Start comparing today!

Our Catholic Superannuation Review is just one of many. You can also read reviews on many more companies offering Superannuation in Australia.



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