AustralianSuper’s achievement of a 5 star rating for super for 2019 by ratings agency Canstar makes us one of only six funds to receive the 5 star rating in 2019*.

It’s a rating our super product has maintained since 2011 and, has been joined by our account based pension product, Choice income, also 5 star rated for 2018, the most recent assessment.

This makes AustralianSuper one of only four funds to be awarded 5 stars in both the Super and Pension categories.

Here we explore what the rating means to AustralianSuper members, stakeholders and the Fund.

Who are Canstar?

Canstar are Australia’s biggest Financial Comparison Site. They compare the biggest range of brands with the intent of giving customers what they describe as the ‘whole picture’.

What are Canstar Star Ratings?

Canstar Star Ratings use a sophisticated and unique ratings methodology that compares annual investment returns, fees and product features.

Ratings range from five to one star. Five-star rated products have been assessed as offering outstanding value to consumers.

Ratings range from five to one star. Five-star rated products have been assessed as offering outstanding value to consumers.

Each eligible account reviewed for the Canstar Star Ratings is awarded points for its historical annual investment performance after fees and array of positive features attached to the product. Points are aggregated to achieve a net performance score and a feature score.

To arrive at a total score, Canstar applies a weight against the net performance score and the feature score that reflect the relative importance of both scores to determine which finds offer outstanding value to consumers.

What do the Net Performance and Features scores take into account?

The Net Performance score considers each account’s annual investment returns net of fees and investment related tax. Fees include administration fees, investment management fees, performance fees and other indirect costs where applicable.

The Features score considers a wide variety of features across 6 categories including financial advice and education, investment options, member access, beneficiary options and Death Benefit, Income payment Options and Other Fees/Charges.

How often are products reviewed for star ratings and award purposes?

Ratings and awards are recalculated annually based on the latest features offered by each provider. Canstar also monitors changes on an ongoing basis. Results are published in a variety of mediums (newspapers, television, online etc)

What Canstar had to say about the ratings

About the super rating: ‘AustralianSuper has displayed consistently strong performance returns over the past five years. The Canstar Research Team found that from 2014-2018, AustralianSuper’s returns were 1.75% higher than the market average…. AustralianSuper also performed strongly across all feature categories, particularly when it came to financial advice and education.’

About the pension rating: ‘AustralianSuper is only one of six funds to receive the (pension) 5 star rating this year. This rating, in conjunction with your 5 start Rating in Superannuation, shows your members that they have an excellent product no matter their stage of life’

* Full methodology available here https://www.canstar.com.au/star-rating-reports/superannuation. Ratings are only one factor to be taken into account when choosing a super fund.

For more information on Canstar, visit canstar.com.au/biggest-original

Compare AustralianSuper here.