Best Super Funds Australia
Superannuation, commonly known as ‘super,’ is an investment scheme designed to provide financial support for Australians during retirement. It is a mandatory retirement savings system, and employers are required by law to contribute a percentage of their employees’ salaries to a superannuation fund. There are many super funds available in Australia, and choosing the best one can be a daunting task.
The best super funds in Australia are those that offer a range of investment options, have strong long-term performance, low fees, and excellent customer service. These funds typically invest in a range of assets, including stocks, bonds, property, and cash. They also have a proven track record of delivering strong investment returns over the long term.
Some of the best super funds in Australia include AustralianSuper, Hostplus, REST Super, Sunsuper, and UniSuper. These funds have consistently outperformed their peers and have a strong reputation for delivering excellent customer service. They offer a range of investment options to suit different investment goals and risk appetites, including growth, balanced, and conservative investment strategies.
The best super funds in Australia are those that offer a range of investment options, have a strong track record of performance, low fees, and excellent customer service. Choosing the right super fund is an important decision, and it’s important to do your research before making a decision.
Top 10 Australian Super Funds
Here is the list of Top 10 Australian Super Funds for 2023.
S.No |
Superfunds |
Founded Year |
|
1 |
Australian Super |
2006 |
|
2 |
Hesta |
1987 |
|
3 |
Aware Super |
2020 |
|
4 |
Australian Ethical Super |
1986 |
|
5 |
CareSuper |
1986 |
|
6 |
Hostplus Super |
1987 |
|
7 |
UniSuper |
1993 |
|
8 |
Telstra Super |
1990 |
|
9 |
Australian Retirement Trust |
2022 |
|
10 |
Virgin Money Super |
2004 |
Check below to know the list of superannuation superfunds in Australia.
TRENDING
1. Australian Super: 2006
Established in 2006, Australian Super is one of the largest super funds in Australia, with over 2.3 million members and $225 billion in assets under management. It is an industry super fund, which means it is owned by its members and operates solely to benefit them.
Australian Super offers a range of investment options, including pre-mixed investment options and individual asset class options.
The fund also provides insurance options for its members, including life insurance, total and permanent disability (TPD) insurance, and income protection insurance.
Australian Super has won multiple awards for its customer service and investment performance.
2. Hesta: 1987
Hesta was established in 1987 and is the industry super fund for the health and community services sector in Australia. It has over 870,000 members and manages over $60 billion in assets. Hesta offers a range of investment options, including pre-mixed options and individual asset class options.
The fund also provides insurance options for its members, including death and TPD insurance, income protection insurance, and health insurance.
Hesta has won multiple awards for its customer service and investment performance.
3. Aware Super: 2020
Previously known as First State Super, Aware Super was established in 1992 and is one of the largest super funds in Australia, with over $145 billion in assets under management and over 1.2 million members. The fund offers a range of investment options, including pre-mixed options and individual asset class options.
It also provides insurance options for its members, including death and TPD insurance, income protection insurance, and health insurance. In 2020, First State Super merged with VicSuper and WA Super to form Aware Super, which now operates as one of Australia’s largest industry super funds.
4. Australian Ethical Super: 1986
Australian Ethical Super is a superannuation fund in Australia that was established in 1986. The fund is focused on ethical and sustainable investing, and aims to deliver strong long-term investment returns while making a positive impact on society and the environment.
The fund invests in a range of sectors, including renewable energy, healthcare, education, and technology, and avoids investing in industries such as tobacco, gambling, and fossil fuels. Australian Ethical Super is a profit-for-members fund, which means that any profits are returned to members rather than being paid out to shareholders.
5. CareSuper: 1986
CareSuper is an industry superannuation fund in Australia that was established in 1986. The fund is designed for people working in the healthcare, community services, and public sectors, and has a focus on providing low-cost, high-quality superannuation services to its members.
CareSuper invests in a range of asset classes, including Australian and international shares, fixed interest, and property, with a long-term focus on delivering strong investment returns to members. The fund is a profit-for-members fund, which means that any profits are returned to members rather than being paid out to shareholders.
6. Hostplus Super: 1987
Hostplus Super is an industry superannuation fund in Australia that was established in 1987. The fund is designed for people working in the hospitality, tourism, and recreation industries, and has a focus on providing low-cost, high-quality superannuation services to its members.
Hostplus Super invests in a range of asset classes, including Australian and international shares, fixed interest, and property, with a long-term focus on delivering strong investment returns to members. The fund is a profit-for-members fund, which means that any profits are returned to members rather than being paid out to shareholders.
Hostplus Super is also known for its focus on providing insurance cover to its members, including income protection, life insurance, and total and permanent disability cover.
7. UniSuper: 1993
UniSuper is a superannuation fund that was established in 1993 to provide retirement benefits to employees in the higher education and research sector in Australia. The fund offers a range of investment options, including diversified options, as well as options that target specific asset classes, such as Australian shares and international shares.
Members can also choose from a range of insurance options to provide protection against death and disability. UniSuper has consistently been ranked as one of the top-performing superannuation funds in Australia.
8. Telstra Super: 1990
Telstra Super is a superannuation fund that was established in 1990 to provide retirement benefits to employees of Telstra, the largest telecommunications company in Australia. The fund offers a range of investment options, including diversified options, as well as options that target specific asset classes, such as Australian shares and international shares.
Members can also choose from a range of insurance options to provide protection against death and disability. Telstra Super has consistently been ranked as one of the top-performing superannuation funds in Australia.
9. Australian Retirement Trust: 2022
The Australian Retirement Trust is a new superannuation fund that was launched in 2022. The fund is designed to provide retirement benefits to workers in a range of industries, including healthcare, retail, and hospitality. The fund offers a range of investment options, including diversified options, as well as options that target specific asset classes, such as Australian shares and international shares.
Members can also choose from a range of insurance options to provide protection against death and disability. The Australian Retirement Trust aims to provide competitive fees and strong investment returns to its members. As a new fund, its track record is yet to be established in terms of performance and member satisfaction.
10. Virgin Money Super: 2004
Virgin Money Super is a superannuation fund launched by Virgin Money in Australia in 2004. The fund offers a range of investment options to suit different investment styles and risk profiles, including diversified portfolios, sector-specific options, and ethical investments.
Members can also choose from a variety of insurance options, including death, total and permanent disability, and income protection cover. One of the unique features of Virgin Money Super is its focus on customer experience, with a user-friendly online platform and mobile app that allows members to manage their accounts and investments on the go.
The fund also offers a range of member benefits, including discounts on Virgin flights, travel insurance, and access to Virgin’s lounge network. While relatively new compared to other super funds in Australia, Virgin Money Super has built a strong reputation for its customer-focused approach and innovative products.
What is the Best Super Fund in Australia?
Australian Super is one of the largest superannuation funds in Australia, with over 2.2 million members and more than $225 billion in assets under management. The fund has won multiple awards for its investment performance and customer service, and offers a range of investment options and insurance products.
However, it is important to remember that different super funds may be better suited to different individuals depending on their personal circumstances and financial goals. It is always a good idea to do your own research and seek professional advice before making any decisions about your superannuation.
Superannuation is a retirement savings scheme that is mandatory for most Australian workers. Employers are required to contribute a percentage of their employees’ earnings to a super fund, which is invested on the employee’s behalf. These contributions, along with investment returns, are designed to provide income for retirees when they stop working.
There are many super funds to choose from in Australia, ranging from large retail funds to smaller industry-specific funds. Retail funds are usually run by financial institutions, such as banks or insurance companies, while industry funds are typically run by unions or other industry bodies.
Factors to consider while choosing a Super Fund
When comparing super funds, there are several factors to consider:
- Investment performance: The investment performance of a fund can have a significant impact on the amount of money you will have in retirement. It is important to consider the fund’s long-term returns, as well as its performance in different market conditions.
- Fees: Super funds charge fees for managing your investments, and these fees can vary widely between funds. It is important to compare the fees of different funds to ensure you are getting value for money.
- Customer service: Good customer service can be important if you need to make changes to your super account or have any questions about your investments. Consider factors such as accessibility, responsiveness, and the availability of financial advice.
- Investment options: Different funds offer different investment options, ranging from conservative to high-risk. It is important to consider your own risk tolerance and investment goals when selecting a fund.
- Insurance options: Many super funds offer insurance products such as life insurance, total and permanent disability (TPD) insurance, and income protection insurance. Consider whether these products are important to you and whether the fund offers adequate coverage.
Ultimately, the choice of super fund will depend on your personal circumstances and financial goals. It is important to do your own research and seek professional advice before making any decisions about your superannuation.
Super Funds in Australia
Choosing the best super fund in Australia is important for securing a comfortable retirement. The best super funds are those that offer a range of investment options, have strong long-term performance, low fees, and excellent customer service.
Some of the top super funds in Australia include AustralianSuper, Hesta, Aware Super, Australian Ethical Super, CareSuper, Hostplus Super, UniSuper, Telstra Super, Australian Retirement Trust, and Virgin Money Super. Each of these funds has unique features that cater to different investment goals and risk appetites. When choosing a super fund, it’s essential to do your research and select one that best suits your needs.
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