UniSuper pension products — results are in
Every year we’re required to assess the performance of our pension products, to ensure they continue to promote the financial interests of our members. After assessment for the year that ended 30 June 2023, we found that they do promote our members’ financial interests.1
The pension products included in this assessment are Flexi Pension—including TTR (transition-to-retirement)—and Lifetime Income.
How we shaped up
Our pension products have passed the assessment and we've determined that they promote our members’ financial interests.
We assessed two key areas of our pension products, as prescribed by law:
- How we compare on fees and returns (Comparison matters)
- Other member benefits (Assessment factors).
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 2023
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 2023
Strong long-term returns
UniSuper’s Balanced investment option was a top performer. It outperformed the industry median over the one, three, five and seven years to 30 June 2023 — based on data sourced from superannuation research and ratings house SuperRatings.*
For the periods that ended 30 June 2023, members in our pension products benefited from both industry-leading low fees and a record of strong long-term investment performance.* Our Flexi Pension TTR investment options provided similar outcomes to our Flexi Pension investment options.5
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 June 2023, published 19 July 2023, for the appropriate index.
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 June 2023, published 19 July 2023, for the appropriate index.
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 June 2023, published 19 July 2023, for the appropriate index.
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 June 2023, published 19 July 2023, for the appropriate index.
Other member benefits6
Our pension products deliver great all-round value to UniSuper members.
Your membership comes with great tools, calculators, online account access and financial advice.
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.
Scale and efficiency
With $127 billion total assets in funds under management as of 30 June 2023, you benefit from the scale of one of the largest super funds in Australia.7
We also manage over 70% of assets in-house. This allows us to deliver 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 financial year that ended 30 June 2023, we determined that the investment strategy for our products was appropriate for members in those products.
All our options included in the APRA performance test passed. UniSuper’s default Balanced (MySuper) product topped the list, with the highest result for a public offer fund – based on the methodology APRA applies for the performance test.
Responsible investing
We consider environmental, social and governance (ESG) factors across our major investments.
As a large investor, we’re able to engage with our major investments on issues that matter to us.
We offer members the choice of three dedicated sustainable and environmental branded options, which have been certified by the Responsible Investment Association Australasia (RIAA).8 *
Online account
Financial advice
Tools and information
We have great resources to help you manage and compare your super, including online tools, retirement calculators, investment update videos, in person seminars, podcasts and webcasts.
Join an award-winning fund
We’re known as one of Australia’s best super funds for our record of strong long-term investment performance.* We’re proud to be consistently recognised as an award winning fund. 10
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Things you need to know
1 Compare UniSuper with other super funds.
2 Other investment options are available but have not been included due to more limited comparison data. Please refer to our investment performance for information on the performance of our full range of investment options.
3 Comparison of fees and returns does not apply to the Lifetime Income and Defined Benefit Indexed Pension products as these provide a lifetime income stream.
4 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.
5 Our Lifetime Income 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 Lifetime Income provides against other similar income streams, with similar features, and determined it promoted members’ financial interests during the assessment period.
6 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.
7 4th largest fund by total assets under management as of 30 June 2023. Source: APRA Annual Fund-Level Superannuation Statistics.
8 Read our website to find out what sustainable and environmental investing means to us and what our investment options can invest in. Different products have different approaches. The Responsible Investment Certification Program does not constitute financial product advice. Neither the Certification Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Appropriate professional advice should be sought prior to making an investment decision. RIAA does not hold an Australian Financial Services Licence.
9 Lifetime Income members excepted. Alternative customer service options are available.
10 Money magazine Best Pension Fund 2023, and 2024. Chant West Super Fund of the Year 2023 — Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 Chant West Awards issued 17 May 2023 are solely statements of opinion and not a recommendation in relation to making any investment decisions. Awards are current for 12 months and subject to change at any time. Awards for previous years are for historical purposes only. Full details on Chant West Awards at chantwest.com.au.
* Past performance is not an indicator of future performance
Consider the Product Disclosure Statements (PDS) and Target Market Determinations (TMD) on our website and your circumstances before making decisions, because we haven't.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 9 (out of 67) $1,871 $2,744 10 (out of 67) $3,646 $5,248 Balanced 2 (out of 70) $1,521 $2,719 2 (out of 70) $2,946 $5,209 Conservative Balanced 5 (out of 63) $1,696 $2,480 6 (out of 63) $3,296 $4,735 Conservative 13 (out of 69) $1,621 $2,220 16 (out of 69) $3,146 $4,204 Fees and Costs, Pension Products | Source: Chant West Pension Fee Survey June 2023 Printable document version
Download a printable document copy of UniSuper’s Pension Products Member Outcomes Assessment FY23 (PDF, 435 KB).