Industry Super Funds Industry superannuation funds are usually non-profit super funds set up exclusively as an alternative to retail funds for employers and employees belonging to a particular industry. Industry funds were began in 1984 when the Australian Council of Trade Unions (ACTU) launched a campaign for universal, fully vested super and funds were established in a range of sectors including building, transport and manufacturing. Today industry super funds account for more than $100 billion of the total superannuation assets which are estimated at over $700 billion. Lower Fees and Costs Because the objective of industry super funds are to profit its members instead of its shareholders (as would be the case with many funds set up by banks or corporations), costs and fees associated with being a member are comparatively and usually significantly lower. Industry super funds will typically save members fees and costs in several areas including: Lower administration fees Lower investment costs No commissions to sales representatives or financial advisers All profits are for members Lower costs for life and disability insurance cover Performance Recent research was conducted into the performance of industry superannuation funds as compared to retail master trusts by SuperRatings, an independent Australian company specialising in such services. The results published in late June of 2005 reportedly showed that industry funds, on average, provided members with better returns after fees and taxes. These findings were consistent with research results over the last five quarters. Based on existing fee levels and projections over a period of 40 years, the results demonstrated that Australians could be better off by as much as 32 percent or more even with an equal level of investment performance between the funds. Numerically, the results showed an average earnings of $19.10 per dollar of fees taken out over the span of a year for industry superannuation funds compared to just $6.70 for retail funds. Other Advantages Other advantages which you can be privy to as a member of an industry superannuation fund may include: Statements and fund information provided twice yearly Paper and disk contributions from employers with a monthly confirmation Access to Members Equity Super Member Home Loans Link to a low cost allocated retirement pension Financial seminars and information sessions