UniSuper pension products come out strong
Every year, we’re required to assess the performance of our pension products, to determine if they’re promoting the financial interests of our members.
After assessing our pension products for the year ending 30 June 2021, we found that they are promoting our members’ best financial interests.
Our pension products include our Flexi Pension, Flexi Pension TTR (transition-to-retirement) and Commercial Rate Indexed Pension.
We’re an award-winning fund with industry-leading performance, lower fees, and sustainable investment options. You can be confident that your pension is in good hands.
How we shaped up
Our pension products promote our members’ best financial interests.
We assessed two key areas of our pension products, as prescribed by law:
- How we compare on fees and returns (Comparison matters), and
- Other member benefits (Assessment factors).
Fees and returns1
We used data from third party research agencies to compare the performance of our FlexiPension investment options to the industry.2 Results show that our members have benefited from both low fees and strong investment returns.
Our fees are some of the lowest
Our pension products' fees were amongst the lowest in the industry, according to data from Chant West for each of these investment options. Our FlexiPension TTR investment options were similarly ranked.3
| UniSuper investment option | UniSuper Flexi Pension fee ranking for $250,000 account balance | UniSuper Flexi Pension fee ranking for $500,000 account balance | ||||
|---|---|---|---|---|---|---|
| Rank | UniSuper Fees | Industry average | Rank | UniSuper Fees | Industry average | |
| Growth | 2 (out of 80) | $1,796 | $2,888 | 4 (out of 80) | $3,496 | $5,483 |
| Balanced | 1 (out of 86) | $1,446 | $2,789 | 1 (out of 86) | $2,796 | $5,294 |
| Conservative Balanced | 2 (out of 72) | $1,321 | $2,566 | 2 (out of 72) | $2,546 | $4,862 |
| Conservative | 3 (out of 83) | $1,246 | $2,320 | 5 (out of 83) | $2,396 | $4,358 |
| Fees and Costs, Pension Products | Source: Chant West Pension Fund Fee Survey June 2021 | ||||||
Fees on $250,000 balance
This graph shows UniSuper's annual fees and costs compared to the industry average for a $250,000 balance.#
Source: Chant West Pension Fund Fee Survey June 2021.
Fees on $500,000 balance
This graph shows UniSuper's annual fees and costs compared to the industry average for a $500,000 balance.#
Source: Chant West Pension Fund Fee Survey June 2021.
Strong returns for our members
UniSuper was one of the top performing funds for the period ending 30 June 2021, ranking in the top five.
We continue to provide strong long term investment performance.
Our default Balanced investment option provided a stronger position compared to most other funds. For the other options included in the SuperRatings industry survey, UniSuper outperformed the average over the 7-year outlook.
7 year investment return
This graph shows UniSuper's 7-year investment performance vs the SuperRatings median.#
Source: SuperRatings Pty Ltd Pension Fund Crediting Rate Survey for the appropriate index June 2021.
5 year investment return
This graph shows UniSuper's 5-year investment performance vs the SuperRatings median.#
Source: SuperRatings Pty Ltd Pension Fund Crediting Rate Survey for the appropriate index - June 2021.
3 year investment return
This graph shows UniSuper's 3-year investment performance vs the SuperRatings median.#
Source: SuperRatings Pty Ltd Pension Fund Crediting Rate Survey for the appropriate index - June 2021.
1 year investment return
This graph shows UniSuper's 1-year investment performance vs the SuperRatings median.#
Source: SuperRatings Pty Ltd Pension Fund Crediting Rate Survey for the appropriate index - June 2021.
Other member benefits5
Our pension products deliver great all-round value to UniSuper members.
Members first
As an industry fund, our members are at the heart of all we do.
We don't pay our advisers commissions, and we don't pay shareholders dividends.
We review our fees annually, across member groups, to ensure these remain fair and competitive.
Our members report high levels of satisfaction with our call centre services and our financial advice has a reputation for excellence.
Scale and efficiency
With $103 billion in funds under management as of 30 June 2021, you benefit from the scale of one of the largest super funds in Australia.6
We also manage 70% of assets in-house. This means we’re able to provide services more efficiently, with lower fees and greater value for our members.
Investment strategy
We review the investment strategy for our options regularly, to check that the level of investment risk and the return target are appropriate.
For the period ending 30 June 2021, we’ve determined they’re appropriate for our members. We also passed the annual APRA performance test for our default balanced MySuper product.
Responsible and sustainable investing
We’re investing for a better future. Every investment we make considers our environmental, social and governance (ESG) principles.
We're Australia’s largest manager of ESG-themed investments, with three dedicated sustainable investment options.
We actively engage with the companies we invest in to drive positive change, addressing environment, social and governance issues, to produce better outcomes.
For more about how we manage climate risk at our fund, read our climate risk report – Climate risk and our investments (PDF, 1.37 MB).
Member services and tools
Tools and information
We have great resources to help you manage and compare your super, including online tools and calculators, videos, podcasts and webcasts.
Award-winning financial advice
From general to comprehensive advice, tailored to you, we can help you make the most of your money. Our expert advisers and consultants are available in-person at more than 20 locations nationwide, or by video or phone.
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Things you need to know
1 Other investment options are available but have not been included here due to more limited comparison data. Please refer to our investment performance for information on the performance of our full range of investment options.
2 Comparison of fees and returns does not apply to the Commercial Rate Indexed Pension and Defined Benefit Indexed Pension products as these provide a lifetime income stream.
3 The Flexi Pension TTR (transition-to-retirement) works alongside your accumulation super account. For the comparison of the accumulation products please refer to the Accumulation products member outcomes assessment.
4 Our Commercial Rate Index Pension (CRIP) provides an income for life which increases each year with the Consumer Price Index, regardless of the performance of investment markets. We’ve assessed the level of income the CRIP provides against other similar income streams, with similar features, and determined it promoted members’ financial interests during the assessment period.
5 Although, under ‘Fees and returns’, we were able to compare only some of our investment options with others in the industry because of data limitations, this section applies to all of our investment options.
6 4th largest fund by assets under management as of 30 June 2021. Source: APRA Annual Fund-Level Superannuation Statistics.
7 Commercial Rate Indexed Pension members excepted. Alternative customer service options are available.
# Past performance is not an indicator of future performance. This information is of a general nature only and includes general advice. Consider the PDS and TMD on our website and your circumstances before making decisions, because we haven’t.
Download a printable document copy of UniSuper’s Pension Products Member Outcomes Assessment 2020-21 (PDF, 520 KB).