About SPEC Super

SPEC Super is an Industry super fund which has been operating for 21 years for people working in the electro-technology and allied industries.  SPEC Super now offers membership to the self-employed, contractors, spouse and family and friends of members.

SPEC Super is a “profit for members” superannuation fund – which means fees are kept to a minimum and no commissions are paid to any person.

The management of SPEC Super’s Trustee company is the responsibility of five (5) Directors.  Two have been nominated by the Electrical and Communications Association Queensland (E.C.A.) and two by the Communications, Electrical and Plumbing Union (C.E.P.U.). One independent trustee makes up the total of five.

SPEC Super offers membership to:

1.          Employer Sponsored members

If you are employed by an Employer in the electro-technology and allied industries you are eligible to join the SPEC Select division of SPEC Super.

For a copy of the SPEC Select Product Disclosure Statement, please click here.

2.          Self-employed, contractors, spouse and family and friends

SPEC Super offers membership to the self-employed, contractors, spouse and family and friends of members.

For a copy of the SPEC Personal Product Disclosure Statement, please click here.

3.          People approaching Pre and Post Retirement

SPEC Super offers pension products for people seeking a flexible and regular retirement income stream.  Whether you are still working and want access to your superannuation benefits to supplement your income, or you have fully retired and want an income during retirement, SPEC Super has pension options to suit you.

For a copy of the SPEC Pension Product Disclosure Statement, please click here.

Check out SPEC Super’s benefits below:

  • SPEC Super offers the choice of six member investment choice options:
          • Balanced
          • Capital Stable
          • Growth (High Risk)
          • Cash Enhanced
          • Australian Shares
          • International Shares
           
  • SPEC Super provides competitive insurance benefits for Death, Total and Permanent Disablement and Income Protection.
  • SPEC Super has low administration costs and has provided solid long returns.
  • Member online - Need to know how much super you have? Member online is a free and easy service available for SPEC Super members, which enables access to your personal superannuation account details.
  • You can remain a member of SPEC Super even if you change employers or cease employment.
  • Pension products for pre and post retirement.
  • SPEC Super has excellent ancillary benefits for members
    • Banking through Members Equity Bank, (including home loans, master cards, personal loans and savings accounts).
    • Discounted private health insurance through Manchester Unity.
    •  
  • You can make additional member contributions "free" of charge.

If you are considering whether SPEC Super is the right super fund for you, we encourage you to make a direct comparison with any alternative fund you may be looking at.  Spending a few minutes making this comparison may help you decide on your best option.

We recommend you download a form to assist you in comparing SPEC Super.

It is important to be fully informed of all the fees and charges that can eat into your savings, the investment performance of the fund and any additional benefits that you may have access to. This way you can be in a position to increase your super.  Please feel free to contact us if you have any questions about these tables.

 

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Compare the fees

Type of fee or costs Amount How & when paid
Fees when your money moves in or out of the Fund
Establishment fee
The fee to open your investment 		Nil Not applicable
Contribution fee
The fee on each amount contributed to your investment – either by you or your employer		 Nil Not applicable
Withdrawal fee
The fee on each amount you take out of your investment		 $60 Deducted from your account at time of payment. No fee is charged for benefit payments due to retirement, death, terminal illness, TPD, permanent incapacity, financial hardship, specified grounds or transfers to ISPF (the Fund’s Eligible Rollover Fund).
Termination fee
The fee to close your investment		 Nil Not applicable
Management costs 
Operational cost
The fees and costs for managing your investment.		 $91.00 p.a. ($1.75 per week). The $1.75 per week fee is an administration fee deducted weekly from your account balance.

The amount you pay for specific investment options is detailed below.

 

 

0.37% – 1.02% p.a.

($3.70 to $10.20 per $1,000)

The fees and costs calculated as a percentage of Fund assets are deducted from the Fund’s investment earnings before the interest crediting rate is determined. This comprises management costs of the Fund as well as fees paid to Fund managers.

Other management costs

Asset fee

 Up to 0.25% of assets This amount is already deducted from investment returns before they are credited or debited to member accounts.
Service fees
First Investment switching fee
Subsequent fee for switching investment options		 Nil
 
$50		 No fee is charged for your first switch in each financial year.
Deducted from your account balance at the time of your second and subsequent switches in the same financial year.
Insurance Adminstration fee

17% of the death

cover premium 		Deducted weekly from your account in addition to the insurance premium if you have Death insurance cover.
Location fee
The fee payable if your address is incorrect and we need to use our search agency to locate you.		 $40 Deducted from your account balance at the time your address is updated.
Family law fee
Enquiry fee:
Charged to process requests for information from your spouse
Splitting fee:
Charged for splitting an account under Family Law legislation


$110
 
 

$100


Payable by cheque by your spouse at time of processing request for information.

Divided and deducted from yours and your spouse’s account balance at time of processing the split

Operational Cost for each Investment option
Investment option Operational cost p.a. #
Cash Enhanced 0.37%
Balanced 0.97%
Growth (high risk) 0.98%
Capital Stable * 0.77%
Australian Shares * 1.02%
International Shares * 0.92%

Note: The operational costs were the actual costs averaged over the financial year ended 30 June 2008, except for those new options

 *available from 1 October 2008 which are based upon estimates.

# These costs are deducted from the Fund’s investment returns before interest crediting rates are determined.

These figures exclude the 0.25% asset fee and any performance fees.

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