AustralianSuper: Australia’s Largest Superannuation Fund

AustralianSuper stands as Australia’s largest superannuation (retirement savings) fund, managing the retirement savings of millions of Australians. Its primary goal is to help members grow their superannuation balances throughout their working lives and provide a comfortable income in retirement.

History and Growth

Formed in 2006 through the merger of two industry super funds, AustralianSuper has experienced significant growth, driven by strong investment performance and an increasing membership base. It’s an industry super fund, meaning it’s run for the benefit of its members, not shareholders. This not-for-profit structure is a key aspect of its identity and operational philosophy.

Membership and Eligibility

Membership is open to almost anyone working in Australia, regardless of their occupation or industry. While originally focused on industry sectors, AustralianSuper welcomes individuals from all walks of life to join their fund. The process of joining is generally straightforward, allowing individuals to easily consolidate their superannuation accounts into a single fund.

Investment Options

AustralianSuper offers a range of investment options to cater to different risk profiles and investment horizons. These options typically include pre-mixed options (such as balanced, conservative, and high growth) as well as more specific options that allow members to invest in particular asset classes like Australian shares, international shares, property, and fixed income. Members can choose an option that aligns with their individual circumstances and investment goals.

Performance and Fees

AustralianSuper is consistently recognized for its strong investment performance. While past performance is not indicative of future results, their long-term track record has generally been competitive within the superannuation industry. Fees are a crucial consideration in superannuation, and AustralianSuper aims to provide competitive fees while delivering quality services and investment performance. Their fee structure is transparent and easily accessible to members.

Services and Resources

Beyond investment management, AustralianSuper offers a range of services and resources to help members make informed decisions about their superannuation. This includes online account access, educational materials, financial planning services (often available at an additional cost), and a dedicated member support team. They provide tools and calculators to help members project their retirement income and understand the impact of different contribution strategies.

Focus on Member Outcomes

As a not-for-profit industry super fund, AustralianSuper places a strong emphasis on achieving positive outcomes for its members. This commitment is reflected in their investment approach, fee structure, and the range of services they provide. They are continuously striving to improve their offerings and ensure that members are well-equipped to achieve their retirement goals.