Frequently asked questions

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These items reflect short-term liabilities such as overdrafts and margins that need to be posted to collateral accounts for strategies using exchange traded derivatives following certain market moves.

Our Australian equities managers invest in portfolios of predominantly Australian companies. This may well include companies that are property or infrastructure businesses, which are classified as Listed Property or Listed Infrastructure in the portfolio holdings reporting. Similarly, the cash holdings within these portfolios will be reported as Cash.

The rules the government has put in place for super funds are designed to provide greater transparency about underlying investments and place increased focus on trustee’s ensuring their only consideration, when investing, is to act in the best financial interests of our members. We consider companies with high carbon emissions pose a long-term risk to our members’ retirement savings, because the world will need to rapidly transition away from a high emissions economy, and these assets may end up stranded and valueless. We also take the environmental, social and governance (ESG) performance of companies into account because the research shows that companies that perform well on these factors have better long-term performance. However, if we excluded every company that someone might not like from our portfolio, we would have an increasingly narrow field of possible investments. People have a wide range of views on companies they believe we shouldn’t invest in – this list would cover everything from dairy companies, to fashion brands, medical research, gaming and banks.

Restricting our investments like this would almost certainly lower our performance over the longer term, which would mean less money for our members’ retirements. Legally, that’s not something we can do – and even if we could legally do so, our job is to look after our members and maximise their retirement outcomes as a whole. It’s the government’s job to provide a framework where companies don’t get rewarded for bad behaviour – and strengthening that framework is definitely something we support.

Vision Super has pledged a A$100 million investment in the renewable energy fund CIP IV, managed by Copenhagen Infrastructure Partners (CIP). The CIP IV fund has plans to develop Australia’s first offshore windfarm in Gippsland. The fund also includes diversified investments across various renewable technologies, including contracted offshore wind, onshore wind, solar PV, transmission, storage, waste-to-energy and biomass assets in low-risk OECD countries in Western Europe, North America and developed Asia Pacific. Vision Super is committed to investment in well-targeted renewable energy assets because they are expected to provide favourable returns to members, as well as enabling the transition we need to a low-carbon economy.
The Sustainable balanced option is passively invested and does not have any exposure to infrastructure, including CIP IV. If you want your super to be invested in an investment option with exposure to CIP IV, you can do this by investing in any of the other pre-mixed options (including the default Balanced growth option) as well as the specialised Infrastructure option. You can read more about our ESG initiatives here.

When choosing an investment option, always consider the applicable Product Disclosure Statement available here.

Vision Super’s Sustainable balanced option is passively invested, under a low carbon mandate. That means that the equity asset classes closely match the market as a whole, but with lower carbon emissions. The amount that the portfolio invests in each company varies depending on their relative carbon emissions, with less invested in companies with high carbon emissions and more in companies with low carbon emissions. This results in a portfolio that has significantly less carbon emissions than a similarly sized pure index portfolio would emit, but without the sometimes high management costs of an actively managed portfolio. The Sustainable balanced option has the same divestments, including from thermal coal and tar sands, and divestments from oil and gas up to the divestment cap as all of our other investment options.

Vision Super has divested from tobacco producers in line with the tobacco free finance pledge. Taking the pledge has allowed Vision Super to become “verified tobacco free”, reinforcing our position as a values-based superannuation fund. Our decision to divest from tobacco producers also reflects the risk that the returns from these companies will be adversely impacted by litigation and/or regulation. The full list of companies that we consider to be prohibited investments is available on our website here.

Controversial weapons are ones that can have a severe impact on civilians, and are generally banned under international treaties. Land mines, cluster bombs and nuclear weapons are deemed to be particularly controversial because of their indiscriminate impacts on civilians and the disproportionate harm they cause – in the case of land mines, for many years after a conflict has ended. Despite being widely considered to be controversial and often prohibited by international treaties, these weapons are still produced in some parts of the world. Vision Super avoids investing in any companies directly involved in the production or sale of these controversial weapons, reflecting the risk that the returns from these companies will be adversely impacted by litigation and/or regulation. The full list of companies that we consider to be prohibited investments is available on our website here.

We have not chosen to divest from mining. Mining remains integral to the global economy, including the necessary transition to a renewable economy through the manufacture of renewable energy infrastructure such as wind turbines and solar panels.

Vision Super places limits on how much of the investment universe we are prepared to exclude in order to not risk constraining our range of potential investments.

Vision Super has largely divested from fossil fuel producers. We are divested from thermal coal and tar sands, and have divested from oil and natural gas up to our divestment cap limits (currently set at 2% of emerging market equities, 2% of Australian equities and 5% of developed market equities ex-Australia as a percentage of the relevant investment universe). It should be noted that the materiality threshold for divestment from a company is set at 25% of revenues.

We divest because we believe there is a material risk of the performance of these investments being adversely impacted by climate change (e.g. becoming stranded assets). Scientific consensus is that carbon dioxide emissions are the major contributor to harmful global warming. Thermal coal and tar sands have particularly high levels of carbon dioxide emissions per unit of energy produced, and we believe that during the transition to net zero carbon emissions, there will be a large impact on exposed industries and companies that is not reflected in current pricing.

You can find detailed information about our fund-wide divestments from fossil fuels and other harmful products such as tobacco and controversial weapons on our website here.

As at 31 March 2022, we have exposure to China via our international listed equities exposure. We have no direct exposure to China via our unlisted assets. It is important to note that other parts of the portfolio are exposed to China, even if they are not Chinese businesses. China is the second largest economy in the world and Australia’s largest trading partner. What happens in China matters for the global economy and asset markets. We also have exposure to many companies where Chinese consumers or businesses are major customers or suppliers, for example, global companies like Apple, Nike and Boeing, as well as resource companies such as BHP and Rio Tinto.

The exposure to China can vary significantly across the range of investment options. Generally speaking, investment options with a higher allocation to shares have more exposure China.

Vision Super uses outsourced investment managers to manage our portfolios. These managers hold a wide range of equities, currencies and fixed interest securities on our behalf. At times, this has included very small amounts of Russian holdings. As at 31 March 2022, the Fund held one Russian asset (a government bond) that had a zero valuation (ie these bonds are worth nothing) as we are unlikely to be able to sell them. We have asked our managers to not make any new Russian investments until further notice. This is within the context of our overriding regulatory requirement to act in members’ best financial interests.

The government requires Australian superannuation funds to publish information about the investments they hold in each investment option on behalf of members. Our portfolio holdings reporting for each investment option allows you to see what your money is invested in, across a range of asset classes as defined by the legislation and derivatives.

Where the ATO identifies multiple funds that may be stapled to an employee, tiebreaker rules will apply:

  1. The most recent fund identified by the ATO will be the employee’s stapled fund for the selected period (from the start of the previous financial year until the day when the ATO applies tiebreaker requirements).
  2. If 1. doesn’t apply, it will be the fund that received the most recent contribution over the selected period.
  3. If 1. and 2. don’t apply, it will be the fund that held the largest balance at the end of the previous financial year.
  4. If none of the above applies, the ATO will consider factors like when an employee joined a fund and other relevant information to identify the stapled fund.
  5. Employees will also be able to see details of their stapled super fund in their MyGov account.

If you are doing this for a single member and not using the ATO’s bulk upload service, the ATO expects results to be available within minutes.

If the ATO provides a stapled super fund response to an employer, they will contact the employee and advise them of the request.

Employees will receive an SMS if they have a valid mobile number in the ATO records and/or a letter (through myGov or paper) advising who has requested the information and more details on the options available to the employee.

Yes, it applies to all employers.

Existing employees aren’t affected by these changes. You must continue to make their compulsory superannuation guarantee (SG) payments into the same super fund account you do today.

Yes, you still need a default fund. If a new employee starts on or after 1 November 2021, and neither nominates a fund nor has an existing fund, you will pay their contributions to your default fund.

If an employee doesn’t have a super account –this maybe their first job – and doesn’t nominate one with a Choice of fund form, you must pay their super into your default fund.

Bulk requests are available from the ATO where the request is for over 100 staff. The ATO provides a form where employers need to request stapled super fund details for over 100 new starters at once. Bulk requests will have a service standard of up to 5 business days. The bulk request will need to be in a xls or xlsx file that can be downloaded from the ATO from 1 November 2021.

You or an authorised representative will need to log in to the ATO online services. You will then be asked to enter your employee’s details, including:

  • Tax File Number, or an exemption code where an employee cannot provide their TFN
  • Full name, including ‘other given name’ if known
  • Birth date
  • Address (residential or postal), if TFN not given.

When you have entered these details, within minutes you will receive an on-screen response in the online services and confirmation that the ATO will notify your employee that you have made a stapled super fund request, as well as the fund details that the ATO provided.

No, stapling doesn’t override choice of fund. Your employees can nominate their preferred fund at any time using a Choice of fund form. Our choice form can be found on the Vision Super website.

If an employee hands you a completed, signed Choice of fund form, you must pay to their nominated fund.

Stapling commences on 1 November 2021. From 1 November 2021, employers will need to take new steps to determine the correct super fund for new employees.

We’re required to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.

This is to make sure we’re keeping members at the centre of our approach to the design and distribution of our financial products.

This legislation requires financial services product issuers to design products that are appropriate for the consumers in the target market and consistent with their objectives, financial situation, and needs.

A Target Market Determination is a document which describes who a product is appropriate for (target market), and any conditions around how the product can be distributed to customers. 

It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product.

Accumulation members

For Employers using SAFF, the address details changes will automatically flow through to Vision Super via their file.

DB Members and ad-hoc address updates for Accumulation members

Employers can update an address for a member anytime via the Employer Online portal. Go to Member Maintenance > Search for and select the member > Click Edit and the follow the prompts.

Accumulation members

For Employers using SAFF, the Termination details will automatically flow through to Vision Super via their file.

DB Members and ad-hoc Terminations for Accumulation members

Employers can process a Termination for a member anytime either by submitting Form 19 which you can find on the website under resources or via the Employer Online portal. Just following the path Member Maintenance > Search for and select the member > Click Terminate and the follow the prompts.

Please send an email to [email protected] detailing your request or call the Employer Hotline on 1300 304 947

We do not currently charge a fee to use our Clearinghouse solution, but per the Clearinghouse agreement we do reserve the right to change this at any time.

You can reset your password by visiting the Employer login page and clicking the Forgotten your password link.

If you have any issues with resetting your password, please call the Employer Hotline on 1300 304 947.

If you call us on 1300 304 947 we can arrange for booklets and PDS to be delivered as well as our induction video that’s available for new employees.

You can claim certain deductions on contributions made to complying super funds on behalf of employees under the age of 75.

For employees over 75, you may only claim a deduction if an industrial award, determination or state award agreement requires a contribution.

There are rules and exclusions that apply so make sure you’re familiar with the information provided on the ATO’s website.

When an employee earns over $450 per week you must pay them the superannuation guarantee (SG), which is currently 10% of their Ordinary Time Earnings as defined in SG laws to your super. If your employee is under 18, they must also work for more than 30 hours per week to qualify. Exceptions apply.  You should make yourself familiar with the rules and exceptions that apply. Refer to the ATO for more information.

If you change your employer in most instances you can request, they pay your super into your Vision Super account. Simply fill in the Choice of Fund form and hand it in to your payroll officer.

If you have to go with your employers default super fund you may be able to keep your insurance benefits with us because your insurance cover with Vision Super doesn’t necessarily cease when you change employers (provided that you satisfy the terms and conditions contained within the relevant insurance policy).

We’d encourage you to talk to us before you engage a lawyer. Vision Super pays more than 85% of insurance claims, so the likelihood is your claim will be paid if you work with us directly, and you’ll end up with more of your money. Many lawyers advertise that they’ll work for you on a ‘no win, no fee’ basis, but if your claim is approved, they may take a large chunk of your payout – it can be around 30% of an entitlement. Our insurance team is here to help you through every step of the claims process, including all the paperwork, without having to get a lawyer involved and potentially losing money you need to pay for medical treatment or maintain your lifestyle.

Call us on 1300 300 820 and we will answer any questions and send you the required information.

Yes, you can cancel your cover at any time. Any cancellation or reduction of cover will take effect from the date we receive your request or the date you specified in your request (as long as it’s after the date we receive it). If you are replacing your existing cover with an alternative cover, before cancelling we recommend that you have your replacement cover in place first. To talk to us about cancelling a policy, please call us on 1300 300 820.

If you are thinking about changing your insurance please consider seeking financial advice before making any changes to make sure it is right for you and your needs and circumstances.


You may be able to get cover if you have a pre-existing medical condition. You will just need to apply to remove the pre-existing condition exclusion when you join by filling in a Personal Statement. Our Insurer will review your application taking into consideration any pre-existing conditions and general health and advise if your request has been accepted.

If your application is unsuccessful,  there will be a two-year Pre-Existing Condition (PEC) exclusion on Death and TPD cover and Income Protection cover. This means that no benefit will be paid if you are totally and permanently disabled, terminally ill or die as a direct or indirect result of a pre-existing medical condition in the first two years of your insurance cover.

You can have multiple income protection policies, and there are legitimate reasons why people choose more than one product.

However, some income protection policies prevent claimants from receiving more than a certain percentage of their gross salary while off work. What that means is you could have three income protection policies that all offer payments equalling 75 per cent of your gross salary, but you wouldn’t be able to claim the full amount from all three. You would typically be limited to a combined maximum of 75 per cent across the policies.

Yes. You can have more than one death, or death and TPD policy in addition to the one you hold in your Vision Super account. However, depending on your circumstances rather than managing multiple policies it might be as simple as increasing the cover you have with us without the need for further medical assessments. It is generally more cost-effective to have one policy so that you are not paying premiums on more than one policy.

Increases in cover in Vision Super may require a medical assessment. If you are considering cancelling cover you hold outside of Vision Super and replacing it with cover in Vision Super, we recommend you call us first on 1300 300 820. Please consider seeking financial advice before making any changes to make sure your insurance is right for you and your needs and circumstances.

It depends how your details have been changed. The most common request is changing a surname due to marriage, which you can do with a certified copy of your marriage certificate, and a Vision Super “Change of Personal Details form” found here: view form

If you have changed your name another way, we recommend you contact us first on 1300 300 820 so we can outline what documents we need to change your details without issue.

If you want to change your address, you can do this by logging onto the secure member portal online, or calling our Member Services team on 1300 300 820.

You can check your balance 24/7 via Vision Online, our secure member secure site, or via the Vision Super app for mobile devices. You can also contact our Member Services on 1300 300 820 or by emailing us on [email protected]

Here’s how it works. You may be able to receive a tax-free contribution from the Government when you make a non-concessional (after-tax) contribution to your super account.  The maximum entitlement that can be received is $500 where your total income is $41,112 or less in the 2021/22 year. This reduces on a sliding scale and cuts out if your total income is above $56,112 in the 2021/22 year.

This is, of course, provided you satisfy work, income and age tests.

Please note that the income threshold test for the co-contribution is your total income, which is calculated as follows:

Total income (assessable income + reportable fringe benefits + reportable employer super contributions – allowable business deductions).

In very basic terms, ‘salary sacrificing’, or ‘salary packaging’ means using some of your before-tax salary to pay for something. In superannuation terms, it is usually an arrangement between you and your employer to contribute some of your before-tax salary into your superannuation account.

In the 2021/2022 financial year, the maximum that can be contributed as before-tax payments is $27,500, this includes your employer SG payments of 10%.

Please note that any after-tax contributions made, where you obtain a tax deduction, are included in this contribution limit.

If you’re contributing by BPAY, it can take Vision Super up to two business days to receive your contribution, then up to three business days to process, although most are done the same day they are received. This will depend upon your financial institution’s processing times.

If you’re contributing by cheque, you will need to allow enough time for your chosen postage method to reach us. Once it has arrived, it can take up to five working days to process.

We can also process contributions by EFT, however, this may take up to three business days.

Best Doctors can help you if you are dealing with an illness, or a chronic or serious condition.

Through your insurance, you and your family get access to Best Doctors which connects you with a network of 50,000 leading medical specialists from around the world. It offers a second opinion when you need it most, to make sure you received the right diagnosis and are on the best treatment plan. You can use Best Doctors at anytime, anywhere, as often as you need for no extra cost, and it’s completely confidential.

Ethical investment (or responsible investment) in a super fund is when an investment is selected to complement views on moral, environmental or political matters. There are ethical super funds dedicated to these specific investment options and funds that offer normal and ethical investment options.

Our platinum rating from SuperRatings mean we’re in the top 25% of super funds rated by SuperRatings for best value for money superannuation. We’ve been awarded the rating 11 years in a row.

Vision Super members pay an administration fee to cover the administrative and operational costs of the the Fund and Trustee. For more information, please read the relevant guide for fees and costs.

Generally, any before-tax money that you pay into your superannuation fund (for example, your super guarantee payment, or salary sacrifice payments) is taxed at a maximum rate of 15%.

The earnings that your fund makes are also taxed (but not the pension untaxed products). And, when you retire and apply to draw an income from your super fund (an account based pension) this is tax-free if you are over 60 years. For more information, please refer to our additional guide on how super is taxed.

It’s important that you provide your tax file number to your super fund or you could be inadvertently paying too much tax.

By calling 1300 300 820, Vision Super members have access to one-off financial advice about their options and benefits in Vision Super, at no extra cost. This includes insurance options, investment choices, Vision Super products, and other basic information.

We also provide access to in-depth personal advice (not limited to Vision Super) by appointment, to discuss at length different topics super and non-super related depending upon your personal financial needs.  This more in-depth personal advice is provided by our employees under an arrangement with Industry Fund Services Pty Ltd (IFS) (AFSL no: 232514), referred to as Vision Super financial planners.

Advice fees apply to personal advice that is not limited to Vision Super (including advice about non-super financial products). Advice about superannuation and retirement products may be deducted directly from your Vision Super accumulation account. Set fees apply each time you are provided with advice about:

  • Personal advice relating to your super
  • Retirement strategies
  • Insurance
  • Estate planning
  • Reviews of the advice

Vision Super financial planners don’t receive commissions or bonuses for financial advice and are only paid a salary.  Their advice is always in your best interests, and you never need to worry whether they’re recommending a product because they want a commission or they’re trying to earn a bonus. For further information about advice fees, see our Fees and Costs page.

Vision Super is an industry fund, run only to benefit our members. We aim to keep our fees as low as possible so there’s more in your pocket when you retire.

Yes. If you have existing death, death and total and permanent disability (TPD), and/or Income protection (IP) cover through another superannuation fund, you can apply to transfer this cover to your Vision account.

To transfer your cover, you need to meet certain conditions – for further information, please read the applicable Vision Super insurance guide.

Remember to check your current insurance arrangements including benefits and fees (different insurance arrangements have different terms and conditions, e.g., exclusions). If you are transferring your insurance cover from another super fund, make sure your application to transfer to Vision Super is accepted before you transfer your money from or cancel the insurance cover you have in the other fund.

We’re open to everyone and you’re welcome to start an account with us no matter who you work for.

In most cases, changing jobs doesn’t mean you have to change super funds. To take Vision Super with you when you change jobs, simply complete the Choice of fund form and hand it to your new employer.

By choosing to stay with Vision Super, you can avoid ending up with multiple funds, multiple sets of fees and excess paperwork.

Centrelink needs to know some details so they can calculate payments such as the age pension. We provide this information directly to Centrelink electronically, on your behalf, every February and August. You can request a Centrelink schedule from Vision Super at any time.

No. Once you have opened an account you cannot make any additional contributions. However, you can close your existing account and open a new account, combining any additional contributions with your existing balance.

Important to know: Government changes to deeming rules could affect you if you choose to close your current account and open a new one. To find out whether your entitlements – including the age pension – could be reduced, we recommend seeking financial advice first.

You have access to make lump sum withdrawals (over and above your pension (income)) payments from a retirement pension however, with a transition to retirement pension lump sum withdrawals are limited and you can only commute your pension by transferring your account balance into an accumulation product.

Your regular pension income payments will be paid directly to a personal or joint bank account nominated by you in your application form. You can choose to receive payments twice monthly, monthly, bimonthly, quarterly, four-monthly, six-monthly or annually.

You need to have met preservation age and have a minimum investment amount of $10,000. Other eligibility conditions apply. Refer to the Vision Super Income Streams PDS for further details.

Eligibility for the government age pension depends on your age, residency status, and the income and assets tests. How much you receive is subject to the income you receive from other sources (including your superannuation) plus the value of your assets. If you are eligible, for all or part of the government age pension, then combining it with your Vision Super pension can work well. You can use the age pension to meet basic living costs and spending money can come from your Vision Super pension.

When you open your Pension account, you’ll have the option of nominating your spouse as a ‘reversionary beneficiary’. This means that if you die, the account will change ownership to your spouse and regular payments from the account will be paid to the spouse. Your spouse will then have the option of withdrawing the account balance if he/she meets preservation age and other rules. Alternatively, you can nominate one or more binding or preferred non-binding beneficiary (the beneficiary must be your dependant and/or legal personal representative when you die).

How long it will last depends on the amount of money you start with, the rate at which you withdraw income (or lump sums), and other factors such as investment returns and fees. There is no guarantee your Retirement Income Stream will provide an income for the rest of your life and payment will only continue to be made until your account balance is exhausted. Ensuring you plan and budget appropriately may assist with helping your money last. The Retirement income calculator may be able to help see if your super is on track and plan where you would like to be.

Our retire with us section can help you understand the steps you need to take to start planning for your retirement. You can:

  • Review your current situation
  • Work out what your goals are
  • Explore strategies to increase your savings
  • Use a range of tools and resources.

You can also enter your current super balance into the Retirement income calculator and receive a projection of the estimated annual retirement income you could receive once you stop working. Try it now to see what you might be able to achieve using a few basic strategies.

This is the age at which you can access your super.


Before 1 July 1960                              55

1 July 1960 – 30 June 1961                56

1 July 1961 – 30 June 1962                57

1 July 1962 – 30 June 1963                58

1 July 1963 – 30 June 1964                59

After 30 June 1964                              60

Cash investment options are generally a combination of money in the bank and money invested for a short time in money market securities, such as bank term deposits and bank bills.

If you are risk averse or working to a short timeframe, then a Cash option that typically provides stable, low risk returns may be suitable for you. This type of investment option will protect the value of your superannuation, but the returns will often be low compared with other investment options.

The risk associated with cash investments is generally minimal, although the returns are also minimal. Cash can be a safe haven in times of economic uncertainty, and occasionally you may wish to preserve capital by allocating some of your super to cash.

We recommend that you obtain financial advice before making any decisions about investing in our Cash option.

To book an appointment with a Vision Super financial planner, either call us or complete our online appointment form:

Go to the form to book an appointment online >

Call our Contact Centre on 1300 300 820 (Monday to Friday 8:30am to 5pm).

Advice fees may apply, which will be discussed with you before any work is undertaken.

We don’t charge switching fees, so there is no impact on your super account balance from switching between investment options. However, if you have the right investment risk profile and your investments are matched up to your risk profile, you shouldn’t be needing to make switches regularly.

From time to time you should review your risk profile, maybe when you are first starting out in the workforce, are in the middle of your working life, a few years away from retirement and/or going into retirement. Otherwise the investments you have in superannuation should be a ‘set and forget’ strategy where you ride the ups and downs of the investments over a longer period.

You can switch investment options for some, or all, of your account balance, future contributions, or both. You can also nominate which investment option you would like your withdrawals to be made from.

You can switch between investment options by logging into our website, or the Vision Super app, or by sending us a completed Investment choice form. You can also call us, on 1300 300 820 (Monday to Friday 8:30am to 5pm).

Investment switches are processed based on the unit prices of the relevant investment options declared on the next business day after we receive your switching request, unless there is a delay with processing due to abnormal market conditions or system failure.

Frequent switching between investment options and trying to second-guess the market can be risky, particularly for high-risk investment options designed to be held in the long-term (6-12 years). You should switch only after a thorough review of your long-term investment strategy.

We recommend that you obtain financial advice before making any decisions about switching between investment options.

To book an appointment with a Vision Super financial planner, either call us or complete our online appointment form:

Go to the form to book an appointment online >

Call our Contact Centre on 1300 300 820 (Monday to Friday 8:30am to 5pm).

Advice fees may apply, which will be discussed with you before any work is undertaken. For full details on advice costs, please refer to the Vision Super Fees and Costs guide.

Growth assets are higher risk but offer a higher potential return compared to defensive assets. They aim to grow the capital that’s invested and provide some income. Defensive assets are lower-risk investments which aim to protect the capital invested while providing an income.

The classification of assets into either growth or defensive has the advantage of simplicity, but it also has limitations when used as an indicator of risk. The classification does not capture diversification, which can have a larger impact on reducing the overall portfolio risk when assets are combined.

Another issue is that different people may have different classifications for the same asset type because there are no regulations governing this area and no clear guidance by the regulators on a standardised growth/defensive split. Classifications of growth or defensive assets may also change over time depending on market conditions and pricing.

We believe that there needs to be greater consistency and transparency in how super funds arrive at their growth/defensive mixes. But in the absence of regulations, there are going to be differences in practice and opinion. To avoid any potential misunderstandings, Vision Super does not publish the growth/defensive split of our investment options.

Compound interest is the interest that is earned on money that was previously earned as interest.

For example, if you have an investment of $100 that pays interest of 5% every year, then in the first year you will be paid interest of $5 over the year (5% of $100).

What happens in the next year? That’s where compounding comes in. You will not only earn interest on your initial $100 deposit, you will also earn interest on the $5 interest that you earned in the first year.

That means you will earn $5.25 in the second next year because your account balance is now $105, even though you didn’t make any deposits. This may not seem like much of an increase, but the effects of compounding becomes  more dramatic over long periods of time. After 30 years, your initial $100 investment would be worth $432.19, and that year you would be paid $21.61 in interest.

Each year your interest earnings will accelerate even more due to compound interest. This cycle leads to interest and account balances going up at an increasing rate, which is sometimes known as exponential growth.

Of course, if you’re borrowing money, compounding works against you. You owe interest on the money you have borrowed, and so your loan balance can then increase over time, even if you don’t borrow any more money.

Our primary objective is to maximise our members’ investment returns so that our members have more for their retirement. One of the means by which we try to achieve this objective is to instruct our underlying investment managers to incorporate Environmental, Social and Governance (ESG) considerations into their investment decision-making processes. We believe that this approach will help support long-term investment performance and enhance risk management.

We are a signatory and member of a range of organisations that promote responsible investing in the superannuation industry, including the Principles for Responsible Investment (PRI), the Australian Council of Superannuation Investors (ACSI) and the Responsible Investment Association Australasia (RIAA). We are also a signatory to the Global Investor Letter to governments on Climate Action, the Paris Pledge for Action (Paris Climate Change Agreement), the Workforce Disclosure Initiative (WDI) and a support investor of the Climate Action 100+ initiative.

The Vision Super ESG policy integrates sustainability and social responsibility into our everyday operations. We consider labour standards, environmental, social and ethical considerations, as well as key financial criteria, when selecting, retaining or realising investments of the Fund. This applies to all asset classes but tends to have more relevance to the listed equity asset classes.

We vote at meetings of our direct listed equity shareholdings according to our ESG Policy. Issues may be related to the election of directors, board structure, executive remuneration and incentive plans, and shareholder rights such as environmental and social considerations. When we have concerns about a company in relation to a proposal, we may choose not to support that proposal if it is not in the best interests of members or is contradictory to our investment beliefs and governance framework.

We have determined that we will not invest in companies that derive material revenue from the manufacture or production of controversial weapons such as land mines, cluster bombs or nuclear weapons. We will also not invest in companies that derive material revenue from the mining of thermal coal, tar sands or tobacco manufacturers.

When searching for new (or reviewing existing) active investment managers, our due diligence includes an assessment of how environmental, social and governance risks are incorporated into the investment process. The investment managers are asked to specify the resources they have available to analyse ESG risks, including personnel and their expertise, and engagement with external research services.

We have low carbon benchmarks for our indexed listed equity investments, which represent about half our listed equities exposure.

The indexed component of our Australian equities portfolio is managed under a mandate that provides a tilt away from high carbon emitters.

The enhanced indexed component of our International equities portfolio is managed to the MSCI All Countries World ex Australia Index unhedged and calculated in Australian dollars. The portfolio is managed to materially reduce both carbon emission intensity and exposure to carbon reserves when compared to the benchmark.

In addition, our Australian small companies manager aims to reduce the portfolio carbon intensity relative to its standard model portfolio.

For our other active equity portfolios, our managers are required to consider ESG principles in their company evaluations. We ask our investment managers to include in each evaluation a reasonable estimate of the impact of phasing out fossil fuel usage, consistent with limiting global warming to no more than 1.5 degree centigrade above pre-industrial global mean temperature. This follows the Intergovernmental Panel on Climate Change assessment (IPCC) Report in October 2018, which revised the safe level of warming human civilisation can tolerate.

This shift to low carbon investment reinforces our commitment to sustainable investments, which has included over a decade of major investments in wind, solar and hydro power assets.

The Sustainable balanced option has a particular focus on environmental considerations, with 100% of the Australian and International equities portfolios managed to low carbon benchmarks.

For more information about our sustainable investment activities visit:

Our page detailing our approach to Sustainability >

Our page detailing how we engage in Active Ownership>

In our PDS we disclose “Investment fees and costs” and “Transaction costs” that include investment expenses relating to the investment management of Vision Super’s assets.

Investment fees and costs include investment expenses relating to the investment management of Vision Super’s assets, such as base and (in very few cases) performance-related fees paid to investment managers and advisers, management fees charged in investment vehicles, asset consulting fees, bank fees, custodian fees and internal Vision Super costs related to the management of the Fund’s assets.

Transaction costs include explicit transaction costs incurred by investment managers such as brokerage, settlement costs and stamp duty, as well as buy sell spreads charged by our investment managers or in underlying investment vehicles.

Investment and transaction fees and costs are not deducted directly from your account. Investment and transaction fees and costs are indirect fees that are deducted from the investment option unit prices and are therefore reflected in the returns allocated to your account through changes in the unit prices.

Find out the current investment fees for each option here >

Premixed options are made up of multiple asset classes, like shares, property, cash and bonds, while the single sector options are made up of a single asset class. This means the premixed options are more diversified than the single sector options.

Diversification is a method of reducing investment risk as different asset classes can react differently to the same economic event. It means spreading your investments both across and within multiple asset classes. The principle is that the more you diversify your portfolio, your risk is mitigated against a single asset performing badly and does not necessarily result in your whole return being poor or negative.

However, it’s important to understand that all investments have some level of risk, and you can never diversify away market risk, which is risk that affects the whole market.

Our premixed options provide a degree of diversification across asset classes and the underlying investments.

By their nature, single sector options are not diversified across different asset sectors but do employ diversification within the underlying investment. The Innovation and Disruption option is the least diversified of our options because its focus is on a small number of companies that use technology in an innovative way or disrupt their industry.

You can invest in one or more of our premixed options, each with asset allocations determined by us. Or if it suits your investment plan, you can also choose your own asset allocations using our single sector options, or invest in a combination of premixed and/or single sector options.

For more information about the risks of investing in superannuation, you can read the Vision Super Product Disclosure Statement for each product.

Find our Product Disclosure Statements here > 

Everyone’s tolerance to risk is different and it often changes as we progress through life. There are times when you are well placed to take strategic risks, and there are times when you want to sit tight and play it safe. The timing is also dependent on what’s going on in the wider world, and financial markets. Overall though, we all have an individual level of comfort with risk.

The best way to work out your risk profile is to have a discussion with one of our financial advisers. They will take you through a questionnaire that will help determine what amount of your money should be allocated to growth (higher risk) investments such as shares and property, and what amount should be allocated to defensive (lower risk) investments, like cash and fixed interest. They will then discuss your investment options, and provide you with a set of recommendations.

You can book an appointment with one of Vision Super’s financial planner to arrange an appointment. Advice on certain single superannuation issues, like your investment options can usually be provided at no extra cost to you. For full details on advice costs, please refer to the Vision Super Fees and Costs guide.

To book, either call us or complete our online appointment form:

Go to the form to book an appointment online >

Call our Contact Centre on 1300 300 820 (Monday to Friday 8:30am to 5pm).

The investment option that’s right for you depends on what stage in life you are in, and how much you’re willing to see your balance go up and down.

As a rule of thumb, younger people may be able to take on more risk as they are investing for a longer time period, while people nearing or in retirement may not want to take on as much risk, since they’re accessing their super or preparing to. This is what we refer to sometimes as a risk profile.

The best way to make sure that you are in the right investment option is to discuss your risk profile with a qualified financial adviser. They will be able to recommend the option that’s best suited for you.

You can book an appointment with one of Vision Super’s financial planner to arrange an appointment. Advice on certain single superannuation issues like your investment options, can usually be provided at no extra cost to you. For full details on advice costs, please refer to the Vision Super Fees and Costs guide.

To book, either call us or complete our online appointment form:

Go to the form to book an appointment online >

Call our Contact Centre on 1300 300 820 (Monday to Friday 8:30am to 5pm).

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Simply click on the button below to visit RateMySuper*. This service is supplied by independent superannuation consultants, SuperRatings, who will show you what you get from Vision Super compared to every other fund in the Australian Superannuation industry. You’ll see our features, fees and services stack up pretty well against the rest. You’ll see our features, fees and services stack up pretty well against the rest. See our terms & conditions for more info.

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