Topic: “Spaceship Super”
Spaceship is an open-market, technology-focused superannuation program launched in January 2017 as a section of the Tidswell Master Superannuation Plan. The two varied investment choices, GrowthX and Global Index, primarily placed in Australian and international stocks and expose investors to various index funds and exchange-traded funds, are available to subscribers as part of their investment menu.
Read below to learn more about Spaceship super:
Critical features of Spaceship Super
The significant features and advantages available to members of Spaceship are:
Two Options For Investments
Two different investing choices are available through Spaceship, which places a significant emphasis on shares.
This illustrates the fund’s inclination to hold technology stocks instead of other investments.
Long-term financial planning
Due to their substantial stock holdings, Spaceship’s investment choices, GrowthX and Global Index, are high risk. They are created to meet the requirements of members who plan to invest for a decade or more.
Application and rollover online
Online registration for a Spaceship account makes it simple to transfer your current super balance to your different account.
Intended for people aged 20 to 40
designed for people aged 20 to 40. Although anybody can join Spaceship, it is specifically geared toward Australians between the ages of 20 and 40, and all investment choices are made to consider their financial goals.
An app-based investment
With the help of Spaceship’s cutting-edge software, you can quickly make contributions, monitor performance, and remain informed about your company.
The two diverse investment choices, GrowthX and Global Index, primarily placed in Australian and international stocks and expose investors to various index funds and exchange-traded funds, are available to subscribers as part of their investment menu. Over the three years leading up to June 30, 2021, the GrowthX option exceeded the pertinent SuperRatings Index, but it lagged the year. Please be aware that the High Growth (91-100%) option group includes the graded GrowthX option. Among all account balances evaluated, the expenses involved with this service are below the industry average. The fund does not impose a switching fee for investments. However, a buy/sell gap might be present. Spaceship Super does not offer its members any insurance, unlike other funds.
What types of insurance are provided by Spaceship Super?
Members of the Spaceship are not provided with any insurance. Before choosing if Spaceship is the correct choice, ensure you are informed of the dangers of putting your superannuation in a plan that does not offer insurance. Additionally, keep in mind that if you transfer over super from another account into your Spaceship account, you will forfeit any insurance coverage.
Spaceship Super: the good and the bad
- Fast-growing investment possibilities with excellent performance returns;
- Annual costs are lower than those charged by competitors in the market
- A simple way to invest that is simple to comprehend and is handled on your part
- There are just two investment alternatives available
- Spaceship is not a MySuper-approved super program
- there is no insurance coverage.
How do I sign up for Spaceship Super?
After weighing your options, select the green “Go to Site” link on this webpage to register for a superannuation account with Spaceship. The Spaceship website will be opened, allowing you to consult the PDS and submit an online form.
- You must submit Personal information. Your name, postal address, date of birth, and contact information are required.
- Although it is not required, providing your Tax File No (TFN) guarantees that your payments and perks will be as low as feasible.
- If converting to Spaceship from another superannuation fund, you must give information about your current fund.
- You must send authorization to facilitate a deposit into your new Spaceship account and your application form.
- A Welcome Pack verifying Spaceship’s acceptance of your application and outlining your membership rights will be delivered to you. After that, you can begin making payments and increasing your superannuation balance in retirement planning.