The super fund that saves you money on health insurance


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Energy MySuper

About the fund

Energy MySuper is the default MySuper product available through Energy Super, a Queensland-based but national public offer industry fund for people who work in and around Australia's energy mysuper rainmaker

super fund health insurance

What it offers

Energy MySuper is one of Energy Super's 10 investment choices, six of which are diversified choices and 4 of which are asset class choices. The balanced option doubles as the MySuper option. There is a Socially Responsible Investment balanced option, the asset class options span Australian and international shares, bonds and cash while the fund stills maintains a defined benefits option.

For retired and soon-to-retire members there are special income stream options. Members who need full comprehensive or one-off financial advice can get it too through the fund's own advisers.

There is even an Energy Super YouTube channel plus the fund fully discloses its underlying portfolio holdings on its website.

But one of the unique features of Energy Super is its Energy Awards program that gives members discounts on health insurance, banking services, general insurance, electricity, telco services, travel insurance and training courses.

Illustrating how well priced Energy Super's insurance cover can be, members aged in their forties can get $500,000 life and TPD insurance cover for about $800 a year.

For all this most members pay fees of just 0.94% meaning for a mid-sized service-focused fund managing $6 billion on behalf of 48,000 members Energy Super offers a range of features normally associated with funds much larger.

Investment performance

A member who invested $10,000 in Energy MySuper in 2006 would have accumulated $18,558 by the end of March 2017 which is almost $1100 more than if they had invested in an average fund matching the SelectingSuper MySuper index.

This was achieved by Energy MySuper beating the annual market benchmark in eight of the past 10 financial year resulting its 8.9% pa 10-year return compared to the benchmark's 8.2% pa.

Rainmaker SelectingSuper's conclusion

Its high relative returns, high value insurance and wide range of features combined with low fees easily earns Energy Super its AAA SelectingSuper rating. It is also a past category winner at the SelectingSuper fund of the year awards.

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Alex Dunnin is director of research at Rainmaker Information, publisher of Money magazine, Financial Standard and Selecting Super.