Prime Super

Prime Super, a superannuation fund for Australian workers

Prime Super is an independent, profit-to-members superannuation fund that offers retirement savings solutions to workers in Australia. The organisation reports more than three decades of operation and presents itself as a fund open to new members from any industry, with a personalised approach tailored to each person's stage of life.

Superannuation and retirement savings

The fund structures its offering around two main areas: building superannuation during working life and the retirement phase. In the first, the website details how the system works, fees and costs, and tools to compare the fund with other options. It also explains the different ways to contribute: salary sacrifice, concessional and non-concessional contributions, after-tax contributions, maximum contributions, spouse contribution and downsizer contribution.

For those approaching retirement, Prime Super offers a Retirement Hub with calculators on how much capital is needed to retire comfortably, case studies and options such as Transition to Retirement and the Retirement Income Stream. The information is complemented by content on withdrawal and investment limits during retirement.

Investment and fund monitoring

The fund publishes its investment options, including MySuper/Balanced, Managed Growth, Conservative, Income Focused, Alternatives, Australian Shares, International Shares, Property and Cash. Members can view weekly, monthly and long-term returns, as well as a dedicated MySuper dashboard. The website also includes a section on each investor's risk appetite and regular investment updates.

Advice, insurance and complementary services

Prime Super offers access to financial advice and a digital will service, as well as calculators to estimate retirement, savings goals, insurance cover and contributions. In the insurance area, the fund provides Death & TPD cover, income protection and terminal illness cover, with different claims processes for each type. It also covers salary protection and transferring cover.

For members, the organisation offers a resource hub with webinars and seminars, a Health Hub, publications, member guides, fact sheets, withdrawal and beneficiary nomination forms, and media releases.

Services for employers

The company serves employers with tools to register employees, manage superannuation payments through the Prime Super Pay portal and the Superannuation Clearing House, and meet their obligations under the system. It also offers workplace seminars, employee insurance, digital tools for staff and dedicated relationship managers. The website also mentions a guide to Payday Super and resources on the importance of clean data.

Fund structure and governance

Prime Super describes itself as a fully independent, profit-to-members fund. Its website provides information on its responsible operations, board, people and governance, and identifies its strategic partners. The organisation notes that its size allows it to invest locally in the communities where it operates.

At the time of analysis, the website announced plans to explore a Successor Fund Transfer with Aware Super. According to the information published, the transaction would create a combined profit-to-members fund with approximately AUD 254 billion in funds under management and more than 1.4 million members.

Contact and presence

The fund has a telephone helpline and a local consultant finder. Members can manage their accounts through MemberOnline and employers through EmployerOnline.