Student Super and Professional Super all started nearly three years ago when Mike Casey and Andrew Purchas from GradConnection had a coffee with Andrew Maloney and Jenny Luu from Student Services Australia. We thought we would sit down and discuss how Australia’s most popular graduate jobs site and Australia’s most popular website for university students (studentvip.com.au) could work together to create great a service for students.
Prior to this meeting, both of us had found students and graduates were often on the back foot when it came to super. They often had multiple jobs which came with different super funds, leading to multiple sets of fees. They were often auto-enrolled in life insurance which doubled the amount they were paying. With multiple accounts, many students were paying multiple premiums across multiple funds which eroded their balance significantly over time, in many cases down to zero.
There was definitely a gap in the market for a fund built to cater to the needs of students and young professionals, that made it easy for young people to get their super organised. So over the next three years we worked closely together, designing a product and building a team that would do just that.
We have just launched and are very excited. It’s taken a lot of work, patience and time to set up a retail super fund and we are very proud of the result. We plan to market to students and new graduates on our websites as well as at O-Weeks in early 2018 and then potentially at a select number of careers fairs to test how our product is received by final year students.
If you have any questions at all please feel free to get in contact with us on [email protected] or contact Student Super Professional Super directly. It’s important that you don’t advise your students on which super fund is the right super fund for them because everyone has different needs and financial positions, however it’s important that they engage with super as part of their career search and take time to research the right fund for them.