Frequently Asked Questions

GOOD SUPER AND ANZ ARE SEPARATE ENTITIES WITH DIFFERENT PHILOSOPHIES, SO WHY DOES GOOD SUPER DEAL WITH ANZ

If your question isn’t answered here, please feel free to contact us. The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.

Investing for impact

Common superannuation concerns

Choosing a super provider

How to make an investment with Good Super

Comparisons with mainstream superannuation funds

Investment partners

Investment options


What is impact investing?

Impact investing is an established method of investment that seeks both financial gains as well as positive social and environmental outcomes. It integrates social benchmarks into standard investment frameworks while retaining a focus on financial profit.

True impact requires a sustainable approach. For investments to be sustainable, they must first and foremost be profitable. So, impact investing identifies businesses that are profitable and which deliver positive social returns.

By investing in these sorts of opportunities, impact investors look to do good for the world and do well for their personal nest egg.

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How can Good Super address issues that others—even large, powerful governments—put in the ‘too hard basket’?

Superannuation is an inherently long-term investment, which is exactly what is needed to support the sort of innovations necessary to solve the grand challenges facing our society.

Good Super is unhampered by election cycles, budgetary restrictions, fiscal quarters, and marginal voters. Liberated of these short-term restraints, Good Super can focus on long-term goals that serve the real concerns and financial interests of our members.

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How much money is held in Super accounts in Australia?

AU$1.9 trillion was held in Australian superannuation accounts at 30 September 2016, according to a report by the ABS.

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What is lost super?

Many Australians have more than one superannuation account. Even if you currently only make contributions into one account, contribution you made earlier might still be sitting in another older account. The savings in these old accounts—ones that you might even have forgotten about—is referred to as lost super.

Multiple accounts can each incur fees. Further, multiple accounts can make it harder to understand your overall financial position. For these reasons and others, many people choose to rollover all their superannuation savings, consolidating everything into one current account.

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Can I access an early release of superannuation benefit due to financial hardship?

Members of a super fund such as Good Super are able to apply for release of some / all of their superannuation up to $10,000 (gross) per annum under the grounds of financial hardship. In order to apply you must be receiving the appropriate Centrelink benefit and have the relevant paperwork confirming this.

It is important to understand that being in receipt of the appropriate Centrelink benefit DOES NOT automatically mean that you will have some / all of your superannuation released. There is strict criteria for the release of your superannuation.

As a guide, superannuation, generally, will NOT be released for the payment of:

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How do I find my lost super and put it into Good Super?

If you’re yet to become a Good Super member, it’s easy to find and consolidate your lost super as you sign up. Be sure to provide your Tax File Number (TFN) during the Good Super sign-up process and select the option that directs us to rollover your existing superannuation savings.

If you’re already a Good Super member, contact us directly for assistance. Simply call 1300 788 658 or email info@goodsuper.com.au and let us know that you want to rollover your old superannuation accounts. If you have your Tax File Number handy, that may speed up the process. The member services team will guide you through from start to finish.

In either of these ways, under your direction, we can track down your lost superannuation savings and consolidate it into your Good Super account.

The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.

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What are the risks of super?

The super/risk relationship

As with any financial product, there are a range of risks associated with investing in the Plan. In addition, there are some risks specific to super. They include:

Interest rate risk
Changes in interest rates can have a positive or negative impact on the value of your super, or the income or capital
return generated by your super.
Market risk
Changes in legal and economic policy, political events, technology failure, economic cycles, investor sentiment and social climate can all directly or indirectly create an environment that may influence (negatively or positively) the value of investments in the Plan.
Underlying investment risk
The value of underlying investments can vary because of factors specific to individual investments. As an example, in the case of shares, changes to company management, product distribution, investor confidence, internal operations or a company’s business environment can affect the share price.
Legislative risk
The laws relating to the taxation of super and the extent to which benefits may be accessed may change. For example, the tax on super may rise or fall, and laws relating to the ability to take lump sums or pensions may change.
Liquidity risk
Liquidity is the ability of an investment to be converted into cash or other liquid securities. There may be times when an investment is not able to be readily sold. The risk of an investment being illiquid may arise in circumstances where in order to liquidate an asset quickly, it may be necessary to sell that asset at a substantial discount and so have a negative impact on the overall performance of the Plan.
Timing
Many investment options should be viewed with a medium or long-term timeframe as the duration of your investment may impact on your withdrawal benefit. The amount of your withdrawal benefit may also be affected by how the market is performing at that time.
Currency risk
If the Plan invests in assets located overseas, then the Plan may have exposure to overseas currency. If the value of the Australian dollar changes while the Plan holds on to those investments, this can affect the value of those assets. For instance, if the value of the Australian dollar went up against the relevant overseas currency, the value of the shares held in that overseas currency would decrease. Likewise, if the value of the Australian dollar goes down while the Plan holds those shares, the value of those shares held in the overseas currency increases. By hedging international investments, currency volatility can be mitigated. The investment strategy is to hedge international fixed interest but not international shares.
Redemption/switching delays
In the event that investments cannot be redeemed or properly valued, the Trustee may delay the processing of a request to withdraw or switch investments.
Other risks related to the Plan
There is a risk that the Plan may close, that fees and expenses may increase (to the extent permitted under the trust deed), or that the investment professionals may change.

The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.

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What does rollover mean?

To rollover your superannuation means to move it from one account to another, where both accounts are part of the government regulated superannuation system.

A rollover strategy allows you to retain the benefits of holding your savings within superannuation (such as tax concessions) while giving you greater control over your finances. It can simplify your savings situation and may result in a reduction of overall fees.

If you rollover your old accounts into Good Super, all your funds are consolidated into one. That means a single set of fees and a single point of contact, all dedicated to the bigger picture and a better future.

The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.

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How do I consolidate my super?

Simple!

If you’re yet to become a Good Super member, you can easily consolidate your super as a part of the same process. Make certain to provide us with your Tax File Number (TFN) as you go through the sign-up process, and select the option that tells us to rollover your pre-existing superannuation.

If you’re already a Good Super member, contact us directly for assistance. Simply call 1300 788 658 or email info@goodsuper.com.au and let us know you want to consolidate your super into your Good Super account. If you know your Tax File Number, that might come in handy. The member services team will help you out and answer any questions along the way.

Under your direction, we can act on your behalf to contact the relevant organisations to safely and securely verify your accounts and bring them together into your Good Super account.

The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.

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Can I choose my own super fund?

Most working Australians have the right to choose their own superannuation fund. Exceptions include some people employed under state industrial awards and federal industrial agreements. For a detailed list of who is eligible and who is ineligible to choose a super fund, take a look at this page on the website of the Australian Taxation Office.

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Can my employer tell me which superannuation fund to use?

No.

With few exceptions, you have a legal right to choose where your employer pays your superannuation contributions. If you formally notify your employer of your preferred fund, they must direct their employer contributions into the superannuation account of your choosing.

Employers may nominate a default fund — this is the fund into which your superannuation contributions will be directed if you do not notify your employer of your preferred fund.

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Can anyone else tell me which superannuation fund to use?

Making a decision about superannuation is largely a personal matter. For anyone to legally provide personal financial advice, there are a few requirements they’ve got to meet.

For starters, it is against the law for a person or company to give personal financial advice unless they have properly considered your personal financial situation, objectives and needs and developed the advice to adequately service those personal factors.

Further, to legally provide personal financial advice, the adviser must hold an Australian Financial Services Licence (AFSL) or be an authorised representative of an AFSL holder.

The information on this site is of a general nature only. It does not take your specific needs or circumstances into consideration. You should look at your own personal situation and requirements before making any financial decisions.

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I’m ready to invest with Good Super. How do I go about it?

It’s easy to get involved.

An online sign-up form can be accessed here. It is quick, simple and is paperless.

The relevant support documents (our Product Disclosure Statement and the Good Super Reference Guide) are available from the Product Disclosure Statement section of the website. Before you make your decision, we recommend you familiarise yourself with these documents and give consideration to how the Good Super superannuation product matches with your personal financial situation, objectives and needs—if you need help with this aspect, seek advice from a qualified financial adviser.

If you have any questions, or would like a copy of the documents mailed to you, feel free to call us on 1300 788 658 or email info@goodsuper.com.au.

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Once I have an account with Good Super, how do I make additional investments?

If you have provided you Tax File Number to Good Super, it is possible to make additional voluntary contributions to your Good Super account by:

There are a variety of considerations for voluntary contributions, including things contribution caps and government co-contributions. This information on this website does not take your personal situation, objectives or needs into consideration. We strongly recommend that you seek the advice of a financial adviser, registered tax agent or accountant before making such a decision.

To make personal contributions via EFT you may follow these steps:

1. Make your contribution to the following account:

Bank: Westpac Banking Corporation
BSB: 034 001
Account No: 262884
Account Ref: (your Good Super member number)

2. Send us an email at info@goodsuper.com.au with the following details:

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What is Good Super’s ABN, SPIN, USI and SFN?

For example, if you use a clearing house to pay your employees’ super, you may need the following information:

ABN: 22 508 720 840
USI: 22 508 720 840 003
SPIN: ETL0408AU
SFN: 511691058

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What does it mean to be a complying superannuation fund?

Good Super is a complying superannuation fund. This means that it adheres to the laws, rules and definitions as set by the Superannuation (Industry Supervision) Act 1993 (Cwlth).

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How is Good Super registered, regulated and licensed?

Good Super is a regulated fund. The Good Super product is offered by Tidswell Financial Services Ltd. Relevant registrations and licenses include:

As a licensed financial services provider, a regulated corporation and superannuation entity, we are subject to the jurisdiction and regulation of the Australian Prudential Regulation Authority (APRA), and the Australian Securities Investment Commission (ASIC).

Click here to view Tidswell’s governance policies.

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Good Super has a social mandate, so how does that impact on its financial strategy?

Our investment selection strategy is informed by a social agenda, still we strive to match mainstream retail superannuation funds in three main areas:

  1. Performance
  2. Risk
  3. Fees

Good Super seeks to apply best-practice in relation to these three key factors. In this way, we look to use impact investing principles to both promote positive social and environmental outcomes, and to seek financial returns that are comparable to mainstream funds.

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What approach is taken to investment risks?

Good Super has a very similar fund allocation mix to that of a typical retail superannuation fund. This means that we are invested in a similarly proportioned spread of securities and other assets.

Additionally, we try to allocate our funds according to detailed analyses of long-term systemic risk. This bigger-picture-perspective takes into account a variety of social, economic or environmental factors. We do this—in accordance with industry-best-practice standards—to reduce long-term systemic risk in our portfolio, thereby optimising long-term outcomes.

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How does Good Super compare to mainstream superannuation funds in terms of fees?

Most superannuation funds have a variety investment options, each of which typically has a different fee structure. It is important when comparing superannuation funds based on their fee structure to do so for comparable investment options such as growth, conservative or balanced. Fees are only one measure that can be used to evaluate superannuation funds. Others measures include performance, risk, ethics and values alignment.

Good Super aims to have a fee structure for each investment option as close to the industry average as possible for that investment option.

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How does Good Super compare to mainstream superannuation funds in terms of financial performance?

Good Super investments are made by a variety of experienced and proven investment partners, but we are still a new fund, which makes direct comparisons hard. Having said this, it is important to note that past performance is not indicative of future performance.

Of course, Good Super is a fund with a mandate to be socially responsible. The 2013 RIAA report found that socially responsible managed funds have outperformed their mainstream counterparts by 3% over the last ten years1. Investments don’t come with guarantees, but those are some pretty impressive figures.

References:
1. 2013 Responsible Investment Benchmark Report’ Responsible Investment Association of Australia, 2013.

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Who are Good Super’s investment partners?

Good Super fund managers include:

For more information, visit the meet our fund managers section of the website.

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Good Super is an environmentally and socially progressive fund, so why are some mainstream fund managers included on the list of partners?

As a regulated superannuation fund, Good Super investment portfolios must include certain basic ingredients. As a matter of utmost financial strength and security and to meet the industry standard risk profile, this must include some defensive assets such as fixed interest and cash holdings. Good Super evaluates its investment partners according to both social and financial benchmarks.

As a matter of responsible corporate governance, serving the financial future of our members is the priority. To fulfil this expectation, we make partnership selections that most responsibly adhere to governing regulation, our trust deed and our unifying social impact agenda. As an institutional investor, Good Super’s ability to influence corporate Australia is set to grow. We will use this influence to drive improvements to corporate cultures, attitudes and behaviours. It’s all about seeing the bigger picture and creating a better future.

For more information, visit the meet our fund managers section of the website.

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Good Super and ANZ are separate entities with different philosophies, so why does Good Super deal with ANZ?

Regulatory liquidity requirements and financial risk management strategies compel superannuation funds to keep a portion of their investment portfolios in cash. Good Super selected ANZ to manage its cash positions because ANZ has been ranked #1 in the Dow Jones Sustainability Index for six of the last seven years.

Good Super remains dedicated to a better future. This dedication and our financial risk management strategy must inform our investment selection. By both measures, it is fortuitous that the bank rated as the most sustainable in the world is also a viable candidate for Australian based cash investments.

Like many large corporations, ANZ has a variety of commercial interests. Not every one of ANZ’s pursuits is perfectly aligned with the Good Super ethos. As our fund grows, so too will our influence as an institutional investor. As we move from strength to strength, Good Super will lead important conversations with corporate Australia, seeking to improve attitudes and behaviours at the organisational level. Looking at the bigger picture, we are positioning to build a better future.

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What investment options does Good Super offer?

We keep our approach to member options simple. There are three investment options to choose from: Growth, Balanced and Conservative.

For detailed information regarding these three options, we strongly recommend you have a look specifically at pages 4 – 7 of our Reference Guide, as available in the Product Disclosure Statement section of the website.

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Why are there only three investment options?

Other superannuation funds may choose to implement additional investment options such as thematic fund choices. Our focus on the bigger picture unifies our broad social vision, therefore our investment options are designed to cater for different investor-types rather than special causes.


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What are asset classes?

Investment assets can generally be split into two broad asset classes:

Growth assets are those that are perceived as having the potential to significantly increase in value over time. They aim for capital growth, sometimes experiencing volatility and even decreases over the short term. Typically, investments such as shares, property and commodities are classed as growth assets.

By contrast, defensive assets don’t usually aim for highly significant capital growth, instead targeting stable income, such as interest paid on an amount invested. For this reason, they are sometimes called income assets. To achieve stability, defensive assets make a compromise on the likely scale of their potential gains. They are less likely to decrease in value, but also less likely to surprise with high growth. Typically, financial holdings such as cash and fixed interest are classed as defensive assets.

Generally, growth assets are more volatile from day-to-day, so defensive assets can provide more stable short-term returns. With an investment horizon in excess of three to five years, it is expected that day-to-day volatility will become less significant. The balance between risk and reward in investment markets means that growth assets are generally considered likely to outperform defensive assets over the long-term.

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How are different asset classes allocated across Good Super’s investment options?

Each of Good Super’s investment options combine assets classes in different proportions. This allows you to select the option that best matches your investment objectives.

 

Investment Option Defensive Assets Growth Assets
Growth 100%
Balanced 29% 71%
Conservative 69% 31%

 

The Good Super Reference Guide ‐ particularly pages 5 to 7 ‐ is highly recommended as a source of more detailed information. You can find it in the Product Disclosure Statement section of the website.

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What investment option is best?

Quite simply, different options will be best for different people.

Each of the options—Growth, Balanced and Conservative—is designed to match a different investment profile, so each has its own strengths.

Deciding which investment option is best for you will depend on your financial situation, objectives and needs, as well as what sort of investor you are. The information on this website is general in nature and does not consider these aspects of your personal situation. Prior to making any financial decisions, it is important that you give proper consideration to your circumstance, objectives and needs and/or seek professional advice from a qualified financial adviser.

Read the Good Super Product Disclosure Statement (PDS) and the Good Super Reference Guide. These documents contain important details that can help you make an informed decision. Both are available through the Product Disclosure Statement section of our website.

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