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Vision Super recognised for lowest cost
Industry super fund, Vision Super has been recognised as having the lowest cost personal superannuation product in Australia, according to Rainmaker Benchmarking Superannuation Quarterly Report.
Vision Super’s chief executive, Stephen Rowe, said that the fund’s success was attributed to a growing uptake among young people.
“We’re seeing a big uptake among younger people, like uni students, who are increasingly savvy about their money and want a super fund that’s in line with their values and won’t see their small balance from part-time or casual jobs eaten up by fees and insurance premiums,” he said.
The fund, which saw a 34 per cent membership growth in Vision Personal and a 162 per cent growth in funds under management from December to June, also said that electronic communications and an online account helped to attract younger demographic.
“Helping young members get engaged and get their super set up right from the start is going to lead to better retirement outcomes for them, and we’re really proud that Vision Super is at the forefront of this with our low cost, low carbon Vision Personal product.”
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Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.
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