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Strong long-term performance and low fees are two of the most important features  you should look for in a super fund – over a lifetime of saving, good performance and  low fees can add up to a better retirement. 

And when times are tough, performance and fees are more important than ever. 

You may have seen media articles saying super returns were negative for the year ending 30 June 2020 – that’s not true for our MySuper option, Balanced Growth, where most of our Vision Super members are invested.

Our Balanced Growth return for the financial year was 1.96% - it might not sound like a lot, but it puts us in the top three MySuper funds when we are compared to the 50 largest MySuper products in the country, according to independent superannuation ratings agency SuperRatings. It also compares favourably with the median result in this survey, of minus 0.54%, as well as cash options. Our members in this option saw their balances end the year up, despite a global pandemic and market turmoil.

In fact, Balanced growth is top ten over longer time periods too:  

1 year rank

3 year rank

5 year rank

7 year rank

10 year rank

3rd of 49

4th of 49

5th of 48

7th of 38

8th of 32

1 year return

3 year return

5 year return

7 year return

10 year return

1.96%

6.50%

6.75%

8.07%

8.13%

 

(SuperRatings Fund Crediting Rate Survey, SR50 MySuper Index, June 2020)

 

Great news for retirees

Great news for our retirees as well because our Balanced Growth pension option also outperformed. It returned 2.22% compared with median return of minus 0.71%, making us the number 1 pension product in the SR50 Balanced survey according to SuperRatings. And we’re top five over three and five years as well. Over ten years, Balanced growth has returned 9.11% per year for our pensioners.

Return and fees are both really important when it comes to your ultimate retirement outcome - according to the Productivity Commission, being in an underperforming fund over a lifetime compared with a top quartile fund can mean by the time you retire, you could be $660,000 worse off.[1] And high fees could mean a difference of $100,000.[2] That’s a big chunk of your retirement nest egg.

In addition to being a top performing super fund we also have the lowest cost sustainable super in the industry. Money Magazine described our Vision Personal plan as a “standout when it comes to price”. On average other funds charge more than double Vision Personal’s total management fee of 0.49%.

 

Lowest average fees payable

The table below shows the lowest average fees payable on a $50,000 account balance for public offer funds. Republished from the SuperRatings website as at 30 December 2019.

FUND NAME

Fees based on 50K Balance

Vision Personal

$238

ANZ Smart Choice - Pers

$325

Bendigo SmartStart Super - Personal Division

$325

Kogan Super

$335

Virgin Money Super

$358

UniSuper Accumulation Super (1)

$361

MyNorth Super - Core

$366

MYONESUPER

$395

QSuper - Accumulation

$415

AustralianSuper

$417


So, with Vision Super, you don’t have to choose between performance or low fees – you can have both and that could mean you retire with more.

Anyone can join so if you’re not already a member, visit love.visionsuper.com.au and become a member today. Easy, convenient super just for you.

Source: 
www.pc.gov.au/inquiries/completed/superannuation/assessment/report/superannuation-assessment-overview.pdf 
[1] P.11  [2] P.14

 

PLEASE NOTE: Before deciding to invest in any Vision Super product, you should read the appropriate Vision Super Product Disclosure Statement (PDS). Past performance is not an indication of future performance. Ratings (awards) are just one factor you should consider when deciding to join Vision Super. These ratings were current at the time of the publication and may change.

 

Vision Super Pty Ltd ABN 50 082 924 561, AFSL 225054 RSE Licence L000239 is the Trustee of the Local Authorities Superannuation Fund ABN 24 496 637 884. Level 15, 360 Collins Street, Melbourne VIC 3000. PO Box 18041, Collin Street East VIC 8003.

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