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Best Superannuation Funds
Superannuation is one of the most common, yet misunderstood topics in everyday finance. Most people know what superannuation is and recognise how important is, but few people have put any serious time into finding the best super fund for their lifestyle and financial goals. With so much advertising and industry jargon it can be difficult to see how one superannuation fund is different from another. To ensure you have the best super fund for your finances, we’ve decided to look at the major types of super funds available to Australians. A little bit of research and preparation can help you find the best superannuation fund for your retirement plans and futureproof your finances for whatever is lurking around the corner.
Read More...Retail superannuation funds
Many Australians are signed on to a retail superannuation fund and these funds are generally run by banks or larger financial investment companies. Retail super funds are open to anyone and often offer a wide variety of investment opportunities for members. As they are owned by private companies however, it is important to note that retail funds are set up to retain some profit and not necessarily to members.
Industry superannuation funds
The other main superannuation option taken by Australians are industry superannuation funds. While some are open, industry super funds are typically restricted to members of industries and work with lower cost models for members. As industry super funds are not set up as private companies, any profits they make are put back into the fund with the intention of benefitting all the members.
Self-managed superannuation funds (SMSF)
An increasingly popular option for Australians looking to optimise their retirement finances is self-managed superannuation funds. With a self-managed super fund, you’re in control of where your money goes, rather than having it invested on your behalf by a fund manager. As you could imagine a self-managed super fund comes with its fair share of admin (and risk), but if you’ve got a background in finance it can potentially lead to greater returns.
Tips for finding the best superannuation fund:
- Compare your options – Part of what makes superannuation such a difficult decision to get right is the set and forget aspect of the accumulation phase. No matter how far you’re into professional life it’s always a good idea to compare your options. The grass isn’t always greener on the other side, but you don’t want to be losing valuable money.
- Consolidate your super – Australians with multiple superannuation funds are having their retirement finances bled dry by multiple fees and the tragedy is most of them don’t even realise it. If you’ve got multiple superannuation funds, it’s a good idea to find the best super fund for your financial goals and consolidate your super into that account.
- Keep an eye on everything – Most Australians discard their regular superannuation updates, but it’s crucial to keep an eye on your retirement finances. Over time a difference in fee requirements can accumulate and make a big difference to the size of your nest egg.
Best Superannuation Fund
Latest review: I'm new to Future Super but have chosen them because I don't want to invest my second biggest asset (my super) in shares that will contribute to destroying my biggest asset (my
- Transparency 4.8 (431)
- Customer Service4.8 (438)
- Rates and Fees4.7 (350)
Latest review: I have worked in some huge companies. The companies that work well take their mission and values from the top. Modern companies who play fair with gender equality are a better bet - which is why I’m t
- Transparency 4.9 (159)
- Customer Service5.0 (160)
- Rates and Fees4.7 (128)
Latest review: We were dubious to say the least regarding a change of accountant for our SMSF. Even though we went from online to online providers there is a definite feel of person to person contact from OSF. All
- Transparency 4.9 (118)
- Customer Service4.9 (122)
- Rates and Fees4.9 (70)
Latest review: one of the worst performing super funds, since aligning with aware super the return has been pathetic and fees unrealistic for the service provided. they send an email trying to blame the markets for
- Transparency 4.7 (124)
- Customer Service4.7 (128)
- Rates and Fees4.3 (69)
Xpress Super
Latest review: We have been with Xpress since 2019 and are thoroughly satisfied with the service. Easy to use, very proactive management and provides all of the options we need. The staff are very helpful and
- Transparency 4.8 (34)
- Customer Service4.8 (38)
- Rates and Fees4.7 (30)
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ESuperfund
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- Transparency 5.0 (63)
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- Transparency 4.5 (633)
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Australian Ethical Super
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- Transparency 4.2 (103)
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Redwood Advisory
Latest review: I have been a client with Ivan and his team at Redwood for over 5 years and have found their service to be excellent and their guidance into a SMSF first
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SuperConcepts
Latest review: I have used Super Concepts to manage my SMSF for a number of years now. I have found them be most helpful particularly my account manager Jessica. My only criticism is that in the past they have
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Superestate
Latest review: Can't say enough how much I love this super fund. Having half my super invested in residential property buoyed me through the worst of the market falls of the pandemic meaning my super performed way
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UNIP SMSF Administration
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Expert Super
Latest review: Olivia helped me set up my SMSF in August 2020. I had no idea what I was doing at the time (not much has changed), but Olivia made the entire process feel seamless and stress free. I LOVE that I
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Spaceship
Latest review: How can you be down nearly 50% in the year to August 2022? Total incompetence as many others have
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Crescent Wealth
Latest review: Very good customer service. Very helpful. The agents were very nice. They have great ethics and good communication approaches. Always keep the customers updated with their policy and regulations.
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Australian Retirement Trust
Latest review: I spoke with a lovely person called Tonia who listened to my enquiry, explained the options and sought additional information when required. Very knowledgeable and easy to talk to. A very positive
- Transparency 4.1 (33)
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National Sterling
Latest review: Back in 2006, i was new into the property game and wanted to increase my property portfolio. They talked me into buying 2 properties. I could only afford one. My accountant had to assist me with
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SuperGuardian
Latest review: We have now been with SuperGuardian ever since we established our SMSF when my partner retired 17 years ago and we certainly have never lived to regret it. They have made the whole process of
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Bell Direct SMSF Service
Latest review: I have dealt with a few brokers and found bell service to be the best among 3 previous services. Very good platform and easy to navigate and the agents have always been very helpful. The share
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