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» Articles - Industry super funds
Industry Super Funds are one type of fund option that may be considered by everyone now that the Australian Government has enabled the freedom for choice of fund by all employees. For those of our SuperInvestor members who are still to make the choice of fund, the Industry Super Funds site provides information and the following summaries for industry funds. The statistics provided by Industry Super Funds are said to be correct as at 30 June 2007.
We encourage all our members that are looking to select an industry super fund to discuss the suitability of the choice of fund with their financial adviser. Other fund options include DIY Funds (or SMSFs), retail funds and employer funds. See articles on other fund choices here.
If you do not have a financial adviser, contact one of SuperInvestor's corporate and professional members for further assistance.
STA and ARF have merged to form AustralianSuper. Open to people in all industries and professions with above average returns, low fees and run only to profit members. $28.5+ billion in assets 1.3m+ members. National.
Cbus is the industry fund focused on the construction, building and allied industries. Established in 1984, it has 39,500 participating employers. $12 billion in assets 503,400 members. National.
More people in health and community services choose HESTA than any other super fund. $12.9 billion in assets 596,000 members. National.
HostPlus is the national superannuation fund for the hospitality, tourism, recreation and leisure industries. $6.5 billion in assets 820,000 members. National.
MTAA Super is the Industry Superannuation Fund for those working in the motor and related industries and is also open to the general public. $5.4 billion in assets 267,000 members. National.
CARE Super (Est. 1986), looks after over 220,000 managerial, administrative and professional employees across a range of industries Australia wide. $3.5 billion in assets 220,000 members. National.
TWUSUPER is the largest fund servicing the transport industry, returns all profits to members and is simple, sound and strong. $2.3 billion in assets 129,000 members. National.
LUCRF has been a proud leader of industry super since 1978. LUCRF operates a low cost ‘not for profit' fund which maximizes member returns. $2.3 billion in assets 166,000 members. National.
Print Super is designed to provide superannuation and retirement benefits to employees in the printing, graphics and related industries. $1.6 billion in assets 67,000 members. National.
ReiSuper is a national fund covering all employees in commercial and residential real estate - sales, administration, property management, etc. $760 million in assets 32,000 members. National.
FIRST Superannuation is run by and for workers in the furniture, furnishing and related industries since 1987. $530 million in assets 37,000 members. National.
JUST SUPER is designed to meet the unique needs of workers in the media, entertainment, arts and IT industries through professional support and personal service. $938 million in assets 43,000 members. National.
The Construction, Maintenance & Allied Industries fund in Queensland is one of only a few funds to have never credited negative returns to members. $171 million in assets 19,400 members. Based in Queensland.
FinSuper is a super fund specially designed for people working in the financial services and insurance industry. $540 million in assets 32,000 members. National.
Vas Banschikov
www.SuperInvestor.com.au
Now that you have read this, what do you think? Do you have other ideas? Please share you views with other members (eg by blog or discussion form) and/or request professional member(s) to contact you directly.
