If you’re going to sort out your super with ease, it helps to have a price structure that’s easy to understand.
Under the GigSuper hood you get two accounts: a Saver account and a Super account.
The Saver is specially designed to help you build a good saving habit without immediately locking money away in super.
The Super helps you build your solid nest egg.
Let's break down the price of each account...
Your Saver account has zero fees. Yup, nothing...nada...zilch.
Which means you’ve got a unique way to give the GigSuper experience a try without committing the money straight into super.
Once your first contribution goes into super – or if you decide to consolidate – you'll kick off the pricing of your Super account.
Here's what that looks like:
(Only $1.50 per week)
This covers the cost of investment, administration, and trusteeship.
And it's automatically paid through your Super account.
As soon as you have $6,000 or more in your Super account, you'll become eligible for our insurance cover.
If you’re 25 years or older, $50,000 of default Life and Total Permanent Disability (TPD) cover will automatically kick in. If you're under 25, you can apply for voluntary cover or you can just wait for the default cover to kick in on your 25th birthday.
How much you pay for insurance will depend on your age, type, level of cover, and whether or not you’re eligible for our white collar discount (51% if you have both Death & Total Permanent Disability (TPD)).
Here’s an example of what premiums for a 38 year old, blue collar worker look like:
($2.75 per week)
($2.26 per week)
It's important to make sure that you've got the right level of insurance that make sense for you.
If your circumstances change, and you want to adjust your insurance, just let us know.
And if you decide you don’t want insurance, you can switch it off anytime.
Give it a try and see how you can automate all the moving parts in order to get the most out of your superannuation.
Alex is a fictional persona based on some typical attributes of a self-employed individual. Please make sure that GigSuper is right for your circumstances, even if your situation is identical or similar to Alex.
Figures are shown in today’s dollars, however they are not intended to be reflective of any particular investment option within GigSuper. These results are for illustrative purposes only and do not represent actual or expected returns that any particular investor might experience.
The projections are based on a number of assumptions, including but not limited to the following:
The prospective financial information provided is not a reliable indicator of future performance in that it is predictive in nature and may be affected by inaccurate assumptions, unknown risks and other uncertainties. Therefore, the prospective financial information may differ materially from the results ultimately achieved.
The above comparison in no way constitutes advice to invest in any particular investment product and we recommend you seek independent financial advice before deciding whether investing in super or non-super products is right for you.