The funds were assessed on how they performed, after fees, compared to other super options of similar risk over five years. Download the report now to see how your fund compares, or keep reading a summary of our research. In , Unisuper took out the Gold Fit Cat Fund award for a second consecutive year for the most top performing funds over five years.
It shares the award this year with Qantas Super, as their corporate superannuation plan for its staff had four Fit Cat Funds. The Bronze award gets shared between multiple superannuation providers this year. Congratulations to our Fit Cat Fund winners for Onepath has topped our list for the most Fat Cat Funds with a grand total of 10 underperforming options, and has been in the Fat Cat Fund category for nine years in a row.
The Bronze award for third last-place is shared amongst the larger wealth managers in MLC and Zurich due their complex product suite, high fees and poor performing investment options. Interestingly, EISS also received the Bronze Fat Cat award as the public superannuation fund for three investment options that underperformed. Want to compare your super even further?
Read the full Fat Cats Fund Report here. Super funds that were analysed by Stockspot go by many names: balanced, diversified, moderately conservative, moderate and capital stable. Investors need to be careful to understand the asset mix of their fund, not rely on how it has been named.
Super Consumers Australia director Xavier O'Halloran says members of funds that have failed APRA's performance should check if there is a better fund for their retirement savings.
If they've failed, then consumers really have to weigh out what this fund is offering. Those funds that are deemed to be underperformers are required to send a letter to their members, with 28 days, informing them that the fund has failed APRA's annual test. The letter will direct members to the online YourSuper comparison tool so that they can compare their fund's performance with others and decide whether to switch. The letter will suggest that switching into a better-performing fund could potentially result in a fund member having thousands of dollars more in retirement.
It will state: "by earning 1per cent higher net return over a year period, you could be 20 per cent better off at retirement. Its review in found that a 0. The performance assessment will cover an eight-year time period that allows funds to target long-term returns and not blame "one bad year" for underperformance. But super fund industry group the Association of Superannuation Funds of Australia ASFA says the regulator's performance tests are flawed because some of those called out were good products that had delivered excellent returns to their members over a long period of time.
ASFA chief executive Martin Fahy said the test was a retrospective assessment and the published test results don't tell members why, and by how much, their fund has failed the test. That means that a product that falls half of one per cent 0. He also criticised the tests for not taking account of funds that might be heavily weighted towards lower-performing stocks but invest in them for ethical reasons.
He said some funds also did not invest in high-performing stocks on ethical grounds. Look back at this historical performance. Take into account your insurance needs, ESG considerations and your life stage and the amount of risk you want to take. There are a couple of ways you can do this:. What is a superannuation fund? A superannuation fund is an institution that is legally allowed to hold and invest your superannuation.
There are more than different superannuation funds in Australia. They come in five different types:. Industry funds were originally designed for workers from a particular industry, but are now open to anyone. Public sector funds were originally designed for people working for federal or state government departments. Most are still reserved for government employees.
Self-managed super funds are private superannuation funds that allow people to directly invest their money. How do you access superannuation?
Accessing your superannuation is a simple administrative procedure — you just ask your fund to pay it. You can access your superannuation in three different ways:. The conditions of release say you can claim your super when you reach:. How do you open a superannuation account? Opening a superannuation account is simple. What superannuation details do I give to my employer? When can I access my superannuation? The preservation age — which is different to the pension age — is based on date of birth.
Here are the six different categories:. A transition to retirement allows you to continue working while accessing up to 10 per cent of the money in your superannuation account at the start of each financial year. Mark Bristow.
Personal Finance Editor. Working for over ten years, Mark previously wrote and researched commercial real estate at CoreLogic, and has seen articles published at Lifehacker and Business Insider, among others.
On this page. Find the best Australian superannuation fund for you Learn how you can start planning for your retirement. Updated on October 22 Mark Bristow Personal Finance Editor. One of the lowest fees in the market. SuperRatings awards. Past 5-year return. FYTD return. Calc fees on 50k. Term deposits.
Go to site. More details. Virgin Money Super. QSuper Lifetime. By submitting this form you agree to Aussie's Privacy Policy. You also agree to Canstar's Privacy Policy. By submitting your details you will deal directly with an Aussie mortgage broker and not with Canstar. Not all lenders are available through all brokers.
Rates are subject to change. Applications are subject to approval, fees and charges apply. This advice is general and has not taken into account your objectives, financial situation, or needs. It is not personal advice.
Consider whether this advice is right for you, having regard to your own objectives, financial situation and needs. You may need financial advice from a suitably qualified adviser. Canstar may receive a fee for referring you to a product provider — for further information, see how we get paid.
Consider the Product Disclosure Statement PDS , Target Market Determination TMD and other applicable product documentation before making a decision to purchase, acquire, invest in or apply for a financial or credit product. Canstar is an information provider and in giving you product information Canstar is not making any suggestion or recommendation about a particular credit product or loan.
If you decide to apply for a credit product or loan, you will deal directly with a credit provider, and not with Canstar. Rates and product information should be confirmed with the relevant credit provider. Read the Comparison Rate Warning. Performance and Investment Allocation Differences. The Superannuation Star Ratings in this table were awarded in April, These results are general advice only and not personal financial advice. Ratings are only one factor to take into account when deciding whether to make an investment.
Consider the Product Disclosure Statement before making a purchase decision. Canstar may earn a fee for referrals from its website tables and from Promotion or Sponsorship of certain products. Fees payable by product providers for referrals and Sponsorship or Promotion may vary between providers, website position, and revenue model. Sponsorship or Promotion fees may be higher than referral fees. On our ratings results, comparison tables and some other advertising, we may provide links to third party websites.
0コメント