Statewide Super Review
Statewide Super Performance: Returns to September 30 2021
|Investment Option||1 Year||3 Year||5 Year|
|Conservative VS Median||0.07%||0.10%||0.49%|
|MySuper VS Median||1.20%||-0.34%||0.37%|
|High Growth VS Median||1.48%||-0.43%||0.37%|
Statewide Super Fees
|Investment Option||Flat Fee||Percentage Based Fee||Fee Based on 50k|
ABN: 54 145 196 298
Address: GPO Box 1749 Adelaide SA 5001
About Statewide Super
Founded over 30 years ago, Statewide Super is a super fund and isn’t linked to a particular industry.
As of 30 June 2020 Statewide Super has over 138,000 members with $9.7 Billion in assets under management.
Statewide Super’s MySuper investment option performance over 5 years was above the median fund and the fees are above the median for funds on Review My Super for a balanced/MySuper risk profile.
Statewide Super offers life, TPD and income protection insurance.
Omnilife have given Statewide Super an overall insurance rating of 59/100. However, ratings vary depending on the individual insured’s circumstances.
When Reviewing Super funds it’s a good idea to learn more about choosing a super fund. Consider the following:
Firstly, are you invested in the right risk profile? This is essentially the amount of risk you’re willing to take to achieve your desired investment return. High Growth investments will achieve the highest returns over the long run, and also carry the highest risk of loss in any one year.
Secondly, what to do about the insurance in your super? Most funds will come with a default amount of insurance cover for instance. For some people this will be very insufficient and for others it will be too much, for example. Therefore, tailoring your cover to your own circumstances is key.
Thirdly, what are the different ways you can contribute to super? Understanding contributions like salary sacrifice and the government co-contribution can help you make the most of your super.
Fourthly, and most importantly, make sure you review Statewide Super against other super funds under the ‘Fund Profiles’ tab and check out the top super funds, to see who the leaders are.
In addition, If you would like to speak to someone for some guidance when reviewing your super, then please fill in the ‘Speak To An Advisor’ form above and an advisor will be in touch to see how they can assist you.
In conclusion, understanding the key elements of super, conducting the appropriate research and seeking the best advice will help with choosing the best fund.
Frequently Asked Questions
Statewide Super’s MySuper and High Growth options have had mixed performance against the median over 1, 3 and 5 years. The Conservative option has out performed the median over 1, 3 and 5 years.
Fees are higher than the median of funds listed on Review My Super.
Based on this evidence, You could say the fund is not bad, particularly for Conservative investors. However, overall it would be difficult to confidently declare Statewide Super a good super fund.
No, Statewide Super is not a self-managed super fund. It is regulated by APRA.
Statewide Super are not designated by Industry Super Australia as an Industry fund. However, they are a not for profit fund and refer to themselves as an industry fund.
Statewide Super is a not-for-profit fund with an industry membership base.
Yes, anyone can join Statewide Super.