Many Australians depend on their superannuation for financial security and wellbeing during the retirement phase. But the selection process can be complex, requiring future retirees to assess various factors. These include:
Ultimately, the most important consideration is performance. A fund’s past performance, while not an indicator of its future performance, can serve as a guide for prospective members. In particular, a fund’s ability to consistently deliver strong returns for members over a long-term investment horizon should form part of the decision-making process.
Australia’s superannuation industry has over-performed since its inception over 30 years ago. According to APRA data, super funds have collectively delivered positive investment returns for 26 of 31 financial years, with an average ROA of 7.8 per cent – well above the long-term target of 6 per cent. Over the latest reported financial year (2022–23), super funds delivered a return of 9.2 per cent.
But on an individual basis, performance can vary significantly, with some funds making a larger relative contribution to the overall performance of the industry. Using publicly available data to compare funds is key, with APRA’s performance heatmaps and quarterly statistics a vital source of information.
Ultimately, it’s important to leverage the full breadth of online resources to compare funds, not only on performance but also on the overall proposition.
Below are profiles of superannuation funds recently recognised for success at Super Review’s annual Super Fund of the Year Awards.
Rest has announced its commitment to a private equity fund expected to benefit from the long-term decarbonisation and deglobalisation of the global economy.
The fund has announced a number of new developments to drive its next phase of strategic growth.
Two super funds have joined forces to take ownership stakes in a newly merged housing developer.
The infringement notices and court enforceable undertaking from APRA aim to address alleged compliance deficiencies.
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