Suncorp Everyday Super - how does it rate?

Hi all,

I'm currently with Unisuper for super (Accumulation 1, 100% Growth, no insurance), and with Suncorp for everyday banking. Suncorp has recently released a competing super product, and I'd like your help comparing the two, strictly in terms of fees (and in terms of expected performance if at all possible, though I suspect it isn't).

Here are Unisuper's fees, and here are Suncorp's.

While you may think it would be simple, the fine print is exceedingly fine. Let me know if you can untangle it!

Thanks in advance :)


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  • +1 vote

    Geez there are a lot of fees! There is a (portable) ING product with no fees, which allows quite a diversified portfolio.
    Have a look:


    Super costs are usually simple…
    Annual or bi annual fee…
    Ongoing charges or account fees… usually discounted before returns quoted. ie that means if the return for a particular product shows a return of 10% then that is after the fees were deducted.
    That's it… (beware of the insurance scam though).

    A typical super performance chart should look like this…

    Note… performance charts are usually shown in two ways… one for super and the other for pensions.

  • +1 vote

    Neither fund looks to me to have particularly high fees. I felt Suncorp's fees and costs breakdown is the more accessible of the two, particularly the table showing a worked example for an account balance of $50,000. UniSuper's charges are reasonably clear, although the definition of their "Indirect Cost Ratio" charge, is a paragraph of well-nigh incomprehensible accountingspeak that defies ready comprehension.

    ASIC's MoneySmart website has some handy superannuation calculators, so I did a quick comparo of the UniSuper and Suncorp fees, using this one:

    Assuming OP is aged 30, plans to retire at 60, earns $50,000 a year, has a current super balance of $20,000 and makes no voluntary contributions, lifetime costs come out as $37,603 for UniSuper and $43,338 for Suncorp, a difference of $5,735 in favour of UniSuper.

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