Member outcomes assessment

Financial year ending 30 June 2020

Putting members' interests first

AustralianSuper is Australia’s largest super fund and a top performer too. Acting in the best financial interests of the 2.3 million Australians who are members of AustralianSuper is at the heart of everything we do.

We're here to help members achieve their best possible retirement outcome, built on a history of strong long-term investment returns and low fees.

We have determined that each AustralianSuper product promotes the best financial interests of members.

 

Benefit from our size

As Australia's largest super fund, our size and scale help us keep fees and costs lower.

Profits to members

As a profit-to-member fund, we don't pay commissions to financial advisers or pay dividends to shareholders.

Strong net benefits

AustralianSuper is a top performing fund over the medium and long term*. Together with low fees, this means more super for members.

Summary of determinations

Returns

AustralianSuper is a top performing super fund over the medium and long term. Our MySuper Balanced option, where most members are invested, achieved strong net returns to 30 June 2020 when compared to other MySuper products over 1, 3 and 5 years*. Other investment options also have strong investment returns relative to comparable funds.

Fees and costs 

AustralianSuper’s fees are among the lowest in the superannuation industry. When invested in the Balanced option, our annual fees (admin and investment) for a $50,000 account balance are considerably lower than the average super fund.

Investment risk

We manage risk carefully across all our options. The level of investment risk in our options is broadly consistent with the median level of risk in other MySuper and comparable funds.

Investment strategy 

We offer a range of investment options with different asset allocations and risk profiles, to suit the different needs of members. Our active management approach continues to drive lower investment costs and deliver top-performing long-term investment performance.

Scale

We’re Australia’s largest super fund and one of the largest super fund investors globally. Our size enables us to capture economies of scale to reduce overall costs and gives us access to attractive, large-scale investment opportunities.   

Setting of fees and operating costs

The fees and costs we charge are designed to provide good long-term value and to be sustainable, competitive and equitable.  AustralianSuper’s operating costs are well below the median of other funds, and our fees are among the lowest in the industry.  

Insurance strategy and fees

Insurance through AustralianSuper is designed to offer members affordable death and disability cover. Our guiding principle is that the cost of default insurance cover should be no more than 1% of salary over a member’s lifetime (in super) to retirement and should not erode the ultimate retirement balance by more than 10%. Our insurance fees for basic cover are below the maximum levels and therefore do not inappropriately erode the retirement incomes of members.

Insurance is not provided in TTR Income and Choice Income accounts. Members in these products can open a super (accumulation) account to apply for insurance.

Options, benefits and facilities 

AustralianSuper strives to ensure our products and services offer good value and meet the changing needs of members now and in the long run. The Fund has consistently achieved high ratings from independent organisations like Canstar for our value for money, investment performance, fees and fund operations. 

For more details, download:

Member outcomes assessment super products - pdf, 517KB

Member outcomes assessment pension products - pdf, 537KB

Proud winners of Canstar 5-Star Rating for account based pension and superannuation

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* AustralianSuper net returns for the MySuper Balanced option were above median by +1.33%, +1.56% and +1.88% over the 1, 3 and 5 year periods to 30 June 2020 respectively. Based APRA data on net return compared to all MySuper funds. Net returns (sometimes called net benefit) is investment returns less admin and investment fees based on a $50,000 account balance. Download the Member Outcomes Assessments for more details, and for the investment performance of other investment options, TTR Income and Choice Income accounts. Investment returns are not guaranteed. Past performance is not a reliable indicator of future returns.  

† AustralianSuper received the Canstar 5-Star Rating for Outstanding Value in Superannuation and Account Based Pension in 2020. Full methodology available for super here. And methodology for account-based pension here. Ratings are only one factor to be taken into account when choosing a super fund.

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