- Sign in
- Write a review
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 bit difference to the size of your nest egg.
Latest review: I have been with this super fund for 4ish years now, performance pre, post and during COVID was great and they are trying to invest my money ethically which I
- Transparency 4.8 (388)
- Customer Service4.8 (398)
- Rates and Fees4.7 (317)
Latest review: Everything has been wonderful since joining. I can’t believe how much my super has increased by only investing ethically. I recommend Verve to everyone I come across! Even during Melbourne lockdown w
- Transparency 4.9 (122)
- Customer Service5.0 (122)
- Rates and Fees4.8 (105)
Latest review: This is my first year with Online Super Fund. I have run my SMSF for eight years now and had used a local Chartered Accountancy firm, who gave me great service, but my fees had doubled over that
- Transparency 4.9 (115)
- Customer Service4.9 (119)
- Rates and Fees4.9 (67)
Latest review: I've been with Vicsuper for nearly 40 years. Their service to members is now appalling. They don't answer calls, reply to emails. What are my admin fees paying for? Does anyone actually work there? I
Xpress Super
Latest review: Over the last five years, Xpress Super has enabled me to manage my fund in a flexible and responsive way to markets, while providing complete transparency and easy access to my money. As my client
Related Articles
Best Credit Cards in 2020!
Whether it's the sign up bonus, rates and fees, or reliable customer service that you look for in a credit card, a credit card is often used everyday, so it's important you choose one that meets your needs and that you're happy with. These are the best credit cards this year, as decided by ProductReview.com.au reviewers.
What Is Peer-To-Peer Lending?
Peer-to-peer lending is quickly gaining popularity among Australian borrowers and investors. If you've never heard of it before, this 2 minute read will give you a quick rundown so you can decide if P2P lending is right for you.
Best Super Funds in 2020!
A good super fund can make a substanial difference to the amount you retire with. From retail super funds to self managed super funds, view reviewer ratings for the best super funds of 2020!
ESuperfund
Latest review: I have been a member for 6 years and could not be happier. Great service, very fast response to queries and excellent value. My return has exceeded all other superannuation options and low fees are a
Spaceship
Latest review: Very easy to set up and the reading material are great to learn about investment. Super happy to save and see my money grow Start investigating a get $5 with the code S8CO3L8R5Q
As an industry super fund for the health and community services sector with 870, 000 members, HESTA is not only highly trusted, but frequently outperforms other super funds with its high returns.
Australian Ethical Super
Latest review: I have been with Australian Ethical for about two years and it was very easy to transfer my past funds in to the new account and interesting (and dare I say fun?) to review my investments progress!
Dixon Advisory
Latest review: I left after 4 years after escalating costs. What I found was the administration e.g. setup and annual audit, returns etc. was very good. However, I found their investment arm was self serving,
Redwood Advisory
Latest review: I switched to Redwood Advisory several years ago as I was unhappy with my previous SMSF administrator. Ivan and his team are professional and know the industry inside out. They always offer advice
Super Concepts
Latest review: Let me be clear - never use Super Concepts. Been waiting 12 months now to wind up my SMSF and still waiting. Get hung up on by the receptionist when trying to lodge a complaint on the phone. They
Superestate
Latest review: I can't believe this is the first fund to actually invest into Australia's consistent top-performing market. Since moving to Superestate I've been delighted with their service, pricing, performance
UNIP SMSF Administration
Latest review: Having experienced poor service from an "all inclusive" super fund admin company whose name rhymes with Qsuirrel, I looked for a platform that included SMSF admin and tax compliance services but also
Sunsuper
Latest review: I have been with SunSuper for at least two years now and have nothing but praise for this company. As a super fund I have found the fees to be very reasonable for the services
Crescent Wealth
Latest review: Not even one star. The worst customer service ever. I moved to New Zealand and completed all the paperwork with the KiwiSaver organization to transfer my superannuation from Crescent Wealth, but for
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
MTAA Super
Latest review: MTAA were prompt in their responses. However since the change to Spirit Super it’s been a free fall. They do not return phone calls, they do not respond to specific emails, they do not follow up on s
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
Simple Choice Super
Latest review: I made the choice three years ago to change my super over to Simple Choice Super and I have no regrets. I am well supported and that I also am able to keep updated on my