Performance figures shown reflect net investment performance, i. To learn more about performance information, click here. Contact the product issuer directly for a copy of the TMD. Canstar may earn a fee for referrals. The results shown are sorted by 3-year return highest to lowest. Superannuation is all about setting you up for the future, providing you with a large enough nest egg so that you can retire in comfort.
The investment return that your super makes its performance is a key factor in this. Here is a hypothetical example:. Source: www. SG contribution amounts per Government-announced rates. Net performance deducts average fees of 1. Please note all information on income, annual superannuation fees and performance returns are used for illustration purposes only.
Actual returns and the value of your investment may fall as well as rise from year to year; this example does not take such variation into account. Past performance is not a reliable indicator of future performance.
As you can see, a small difference in performance could cost you tens of thousands of dollars by the time you retire, all other factors being equal. Canstar can help you compare available super funds, and their performance, so you can see which one might suit you. Exactly which super funds will offer you the lowest fees may well depend on what your account balance is.
This is because super fees can be charged as a percentage of your balance but also as flat fees set dollar amounts that in some instances may be set at different levels depending on your balance.
Before changing funds, consider carefully the implications of moving and what it might mean for you in the future. For example, consider any insurance cover you might lose by closing your account with your existing fund. Super funds cannot charge you a fee for moving all or part of your money to a different fund. According to ASFA, it would enable a healthy retiree to be involved in a broad range of leisure and recreational activities and purchase things like a reasonable car, good clothes, electronics, as well as domestic and occasional overseas travel.
This article was originally written by William Jolly. An Aussie mortgage broker can help you with this home loan product as well as many other home loans from leading lenders. Fill in the form below. This is generally the fund's default option. Outcomes vary between individual funds.
Modelling performed on 2 October using data as at 30 June See industrysuper. Consider a fund's Product Disclosure Statement PDS and your personal financial situation, needs or objectives, which are not accounted for in this information, before making an investment decision.
Note that since the date of the comparative modelling the number of funds qualifying as Industry SuperFunds has changed from 15 to This change does not reduce any comparative differential shown in the modelling. Revised modelling will be undertaken in the near future. Industry Super. Choose an Industry SuperFund Just look for the symbol. View all 13 funds. Join Visit site.
Built by workers, for workers With a history of strong long-term performance, Cbus is the leading Industry Super Fund for the building, construction and allied industries. We're big enough to make a difference and small enough to care. Super for savvy professionals Smart, proactive investing and competitive fees. Securing the financial future of our members With low cost, award-winning insurance, free seminars and professional financial advice, NGS is focused on delivering positive retirement outcomes and personalised service for those in non-government education and community organisations.
Wholeheartedly committed to you and your industry Proud to be an Industry SuperFund, Media Super is deeply ingrained with and connected to our community, having a long history in the print, media, entertainment and arts sectors.
Putting the energy into super Workers in the energy, renewables and electrical industries — and their families — choose Energy Super. Delivering strong long-term returns for hard-working Australians First Super welcomes all Australians regardless of occupation or location, but we have particularly strong links to the furniture and joinery, pulp and paper, and timber industries.
Super is all about location, location, location! Superannuation FAQs What is an industry super fund? Only benefit members An industry super fund is one that is run only to benefit its members, and not the interests of external shareholders. A total of 76 MySuper investment options have been graded as either "pass" or "fail" — based on the Australian Prudential Regulation Authority's APRA test of comparison of fees versus performance over seven years.
On Tuesday, 13 big-name funds were shown to have failed the financial watchdog's performance test. Unisuper 9. The public naming and shaming of underperformers is part of the federal government's Your Future, Your Super reforms, which came into force on July 1. This is the first time that the list has been published but if super funds get two consecutive failures, under the federal government's reforms, that will result in a ban on that fund taking any new members until they lift their game.
Superannuation Minister Jane Hume said that eight products have exited the market since the performance test was announced. The regulator has now also written to superannuation funds whose products fail or marginally pass the performance test. APRA executive board member Margaret Cole said 84 per cent of products passed the performance test, "however APRA remains concerned about those members in products that failed".
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.
Find out more about how to choose the right super fund. The top performing aggressive growth super funds had very little in defensive assets such as bonds and cash. OnePath featured heavily in the Fat Cat Fund list with five of the worst 10 performing funds. Meanwhile industry funds e. UniSuper took out most of the top 10 performing aggressive super funds. The bottom funds in this category typically had more cash and bonds, poor outperforming active managers, and higher fees.
The average fee in this category was 2. The top performing funds in this group had a relatively small This allowed them to return 9. This pulled down their performance to 3. Download the Fat Cat Funds Report to dive deeper into the best and worst performing super funds in Australia.
This helped them achieve returns of 6. Funds like Onepath and MLC performed the worst out of balanced super funds.
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