UniSuper rated one of Australia's lowest-fee super and pension funds

November 2017


UniSuper is among the lowest-fee super and pension funds, according to Chant West’s most recent fee surveys.

High marks for low fees

Our Accumulation 1 fees (which also apply to Accumulation 2 members) ranked in the lowest 10% of all funds, and our Flexi Pension fees ranked in the lowest 4% of all funds, the September report showed.

Chant West reviews the fees charged by Australia’s largest 100 super and pension funds across a range of investment options, balances and product types.

Our Accumulation 1 default Balanced (MySuper) investment option fees ranked fourth lowest for $25,000 super balances, third for $50,000 balances, and second for $250,000 balances.

Our Flexi Pension default Balanced investment option fees ranked lowest for $250,000 and $500,000 balances, and second for $100,000 balances.

The Accumulation 1 Balanced option’s fees of 0.75% on a balance of $50,000 were below the overall industry average of 1.14%, and our Flexi Pension Balanced option’s fees of 0.63% on a balance of $250,000 were also below the industry average of 1.24%.

Earlier in the year, Chant West also awarded UniSuper 2017 Pension Fund of the Year, and Best Fund: Advice Services.

Impact on retirement

Our Head of Product Ian Lorimer says a combination of low costs and competitive investment returns can make a big difference to retirement balances over time.

“Due to the very long-term nature of super, these differences can add up to tens of thousands of dollars at retirement,” he said.

UniSuper recorded first-quartile peer investment performance over all periods greater than one year, according to recent SuperRatings figures.1

In addition, insurance premiums reduced from 1 October 2016, including a 5% decrease for Death and Total & Permanent Disability premiums, and an average 19.5% premium decrease for Income Protection.

We also reduced fees for second and subsequent investment switches in a financial year, with the first switch in each FY remaining free.

Compare apples with apples

Use Chant West’s AppleCheck comparison tool to see how UniSuper performs on a range of measures, including fees, investment returns, insurance and more.

Chant West has consented to the inclusion of the references to Chant West in the context in which they are included.

1 SuperRatings Pty Ltd’s Fund Crediting Rate Survey June 2017, published 20 July 2017 available at www.superratings.com.au. Past performance is not an indicator of future performance