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.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.
As institutional investors grapple with shifting sentiment towards US equities and fresh uncertainty surrounding tariffs, Australia’s Aware Super is sticking to a disciplined, diversified playbook.