SuperRatings, the Australian super research firm, have found Telstra Super to be Australia’s best super fund for members in the Accumulation phase.
The analysis looked at almost 600 super funds, which covered over $1.05 trillion in assets affecting over 21.5 million workers, to find the top Australian funds for members trying to accumulate their super and for those already in retirement.
Telstra Super was named best overall fund, found to offer “the strongest end to end solution, covering both the accumulation and pension phases.”
“In a constantly changing superannuation environment, Telstra Super has had an amazing year, performing consistently well across all of SuperRatings’ key assessment criteria,” SuperRatings CEO Adam Gee said in a media release.
“This includes a long history of outstanding investment returns, coupled with competitive fees. In addition, Telstra Super has invested heavily in administration and member education and their advice services are strongly assessed, all of which are areas that have proven challenging for a number of Telstra’s peers. Whilst the fund is only open to employees of Telstra and their immediate families, we had to recognise its performance as a clear standout of the industry.”
REST Pension was named best fund for members in the Retirement/Pension phase. AustralianSuper Choice Income, HOSTPLUS Pension and Telstra Super RetireAccess were included in the top ten Retirement/Pension funds.
Catholic Super, HESTA, Sunsuper and UniSuper were included in the top ten Accumulation funds.
“With such a large focus now on the performance of the superannuation industry, SuperRatings’ comprehensive analysis shows funds are becoming increasingly competitive and sophisticated in helping members achieve their retirement adequacy goals,” said SuperRatings founder Jeff Bresnahan.
“This should be good news for all Australians, who are benefiting from the continued drop in fees and better access to advice and education services. Mainstream superannuation funds are, more than ever, delivering better value for money to everyday Australians who rely on them to accumulate their retirement savings.”
