It is important for every Australian citizen to ensure they are using a high-performing super fund in order to grow their balance. However, many find out years later that their fund has been underperforming. This leads to the loss of tens of thousands of dollars in the long term. An Australian possesses the right to switch from one super fund to another at any given time for no cost (find out more about switching super funds here). Here, we explore the superannuation performance in Australia from best to worst.
Best Performing Super Funds
Hostplus
1-year return – 23.9%
10-year return – 10.4%
Annual fee -$628
Easily ranked one of the best performing super funds in Australia, Hostplus ranks number one on Super Ratings Balanced Funds list. It offers low-fee index investment options and may be one of the most commonly used industry super funds in Australia.
Australian Super
1-year return – 20.4%
10-year return – 10.3%
Annual fee -$387
AustralianSuper possesses the best 10-year returns of all MySuper products. It currently holds the position of Australia’s largest super fund as well as being an award-winning industry super fund. Furthermore, it is also a balanced super fund with a ranking on the Super Ratings Balanced Funds list of 2021.
Uni Super
1-year return – 9.6%
10-year return – 17.6%
Annual fee- $96 for every $50,000
UniSuper received the Fund Of the Year award for 2021 from SuperRatings with recognition to its low fees, investment performance and client service. It holds more than a $100 billion funds under management making it one of the largest industry super funds in Australia
4) Cbus
1-year return – 19.3%
10-year return – 9.6%
Annual fees – $479
One of Australia’s largest growth funds for industries under building and construction. It ranked third on the Super Ratings list as well as being named winner of the 2021 Career Fund Year award. Cbus tries to demonstrate a dedicated commitment to environmental and social morals.
5) Sunsuper for Life
1-year return – 20.7%
10-year return – 9.7%
Annual fees – $1.50 per week plus 0.10% p.a.* for the first $800,000
Sunsuper holds the 8th position as the largest in terms of its total assets under management which amounts to an estimate of $74.6 billion. It has almost 1.5 million members and up to 40 investment options to choose from.
Worst performing super funds
Westpac’s BT Super
Average Return – 2.13% over 7 years
Unfortunately, BT super saw a massive plummet in 2021, being labeled as one of the worst performing super funds. It falls under the category of a bottom-ranked fund at the 43rd position in the balanced fund sector.
BT Lifetime Super
Average return- 1.5% per annum
BT Lifetime Super suffered only half the rate of inflation during the year leading them to sustain compound losses of 9.6% during 2021. Furthermore, over the past five years, BT Lifetime Super has seen a sharp worsening of its returns with losses of upto 2.43% or 5.36% after inflation gets factored in.
Energy Industries Superannuation Scheme- Pool A
Average Return – 4.58% (6-year return)
Ranking at the top of 2021’a worst-performing super funds Energy Industries Superannuation Scheme- Pool A holds first place. With a six-year return of only 4.58% and a whopping fee of $445, it holds the spot of one of Australia’s worst-performing public sector super funds.
Commonwealth Bank Group Super
Average return – 5.29% (6-year return)
The commonwealth bank group super achieved a mere 3% annual return mark meaning that it saw almost no growth in real terms over the past seven years. Furthermore, during the past five years, the Commonwealth Bank Group Super has sustained a loss of 3.26% every year.
Christian Super
Average return – 5.47% (6-year return)
Falling under the top three worst performing funds of 2021, Christian Super also fell significantly below the APRA’s performance test of the year. It possesses a high fee of $645 per year for increasingly low returns.
If you found that useful and want to know more about high-performing assets from last year – these are the highest growth stocks and cryptocurrencies in 2021.
