What is your super worth?
Take a look at the table below to compare the difference in accrued super savings between an average CareSuper account, industry super fund and master trust fund over various investment timeframes.
Of course, these comparisons are based on some calculation assumptions, so it pays to speak to a financial planner for a closer comparison of how your super account measures up to CareSuper.
Net benefit to members over different timeframes to 30 June 2008
| Fund |
Investment timeframe |
Avg. account balance (PV) |
Benefit difference (PV) $ |
Benefit difference % |
| CareSuper |
1 year |
$50,189 |
|
|
| Industry fund |
1 year |
$49,451 |
$738 |
1.5% |
| Master trust |
1 year |
$47,946 |
$2,243 |
4.7% |
| CareSuper |
3 years |
$70,917 |
|
|
| Industry fund |
3 years |
$70,902 |
$15 |
0.0% |
| Master trust |
3 years |
$66,734 |
$4,183 |
6.3% |
| CareSuper |
5 years |
$95,125 |
|
|
| Industry fund |
5 years |
$94,549 |
$576 |
0.6% |
| Master trust |
5 years |
$86,909 |
$8,216 |
9.5% |
Calculation Assumptions
Starting account balance is $50,000, initial salary is $50,000 .
$150,000 employer asset sizes accumulated at a rate of 11.6% on a yearly basis.
Inflation rate of 2.5% and 3.5% wage increased rate.
9% Superannuation Guarantee contribution.
No additional salary sacrifice or voluntary contributions.
15% contribution tax.
Modelling is based on actual reported returns over the stated period.
Contributions are made quarterly in arrears (i.e. the first contribution is made 3 months after joining fund).
Annual salary is deemed to be total assessable income for the purposes of Superannuation contribution surcharge calculations.
Explicit costs deducted from members’ accounts (e.g. member fee) is subject to a 15% tax allowance.
Fees:
Any contribution fees, entry fees, exit fees, and/or additional adviser fees are excluded from the default position of this model. However, contribution fees can be modeled by operator.
All fees (asset based admin fees, investment fees and member fees) are deducted from the account at the end of each period (year).
Asset size discounts on fixed dollar member fee are used to meet the different account balance of each scenario.
Asset based admin fee is also subject to different level of employer asset sizes (i.e. asset size discounts are used on each scenario, if applicable).
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