UniSuper accumulation products — results are in
Every year we’re required to assess the performance of our accumulation 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 accumulation products included in this assessment are Accumulation 1, Accumulation 2, and Personal Account products, as well as the accumulation component of our Defined Benefit Division product.
How we shaped up
Our accumulation products have passed the assessment and we've determined that they promote our members’ financial interests.
We assessed two key areas of our accumulation products, as prescribed by law:
- How we compare on fees and returns (Comparison matters)
- Other member benefits (Assessment factors).
Fees on $50,000 balance
This graph shows UniSuper's annual fees and costs compared to the industry average for a $50,000 balance.*
Source: Chant West Super Fund Fee Survey June 2023 for all options, excluding High Growth. High Growth June 2023 results based on Chant West Member Outcomes Dashboard data obtained November 2023.
Fees on $100,000 balance
This graph shows UniSuper's annual fees and costs compared to the industry average for a $100,000 balance.*
Source: Chant West Super Fund Fee Survey June 2023 for all options, excluding High Growth. High Growth June 2023 results based on Chant West Member Outcomes Dashboard data obtained November 2023.
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 Super Fund Fee Survey June 2023 for all options, excluding High Growth. High Growth June 2023 results based on Chant West Member Outcomes Dashboard data obtained November 2023.
Strong long-term returns
UniSuper’s Balanced investment option was a strong 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.*
Members in our accumulation products benefited from both industry-leading low fees and a record of strong long-term investment performance for the periods that ended 30 June 2023.3 *
7-year investment return
This graph shows UniSuper's 7-year investment performance vs the SuperRatings median.*
Source: SuperRatings Pty Ltd Fund Crediting Rate Survey and Sustainable Investment 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 Fund Crediting Rate Survey and Sustainable Investment 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 Fund Crediting Rate Survey and Sustainable Investment 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 Fund Crediting Rate Survey and Sustainable Investment Survey June 2023, published 19 July 2023, for the appropriate index.
Other member benefits3
Our accumulation products deliver great all-round value to our members.
Your UniSuper 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.4
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 results 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 investements 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).5 *
Insurance
We insure a lot of members, so we negotiate premiums at bulk rates, rewarding you with lower premiums.
Based on an assessment of members’ needs, we’re satisfied that, overall, our insurance strategy is appropriate, and our premiums are affordable.
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.
Online account
Financial advice
We can help you make the most of your money with general, select or comprehensive advice tailored to you. Our expert advisers are available in person at more than 20 locations nationwide, and by video or phone.
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. 6
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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 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.
4 4th largest fund by total assets under management as of 30 June 2023. Source: APRA Annual Fund-Level Superannuation Statistics.
5 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.
6 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 fee ranking for $50,000 balance UniSuper fee ranking for $100,000 balance UniSuper fee ranking for $250,000 balance Rank Our Fees Industry average Rank Our Fees Industry average Rank Our Fees Industry average High Growth 7 (out of 23) $411 $500 7 (out of 23) $726 $939 6 (out of 23) $1,671 $2,258 Growth 8 (out of 76) $406 $644 7 (out of 76) $716 $1,166 5 (out of 76) $1,646 $2,740 Balanced 2 (out of 77) $336 $634 1 (out of 77) $576 $1,149 1 (out of 77) $1,296 $2,702 Conservative Balanced 5 (out of 62) $371 $599 2 (out of 62) $646 $1,067 2 (out of 62) $1,471 $2,500 Conservative 11 (out of 74) $356 $534 11 (out of 74) $616 $946 8 (out of 74) $1,396 $2,193 Fees and Costs, Accumulation Products | Source: Chant West Super Fund Fee Survey June 2023 for all options, excluding High Growth. High Growth June 2023 results based on Chant West Member Outcomes Dashboard data obtained November 2023. Printable document version
Download a printable document copy of UniSuper’s Accumulation Products Member Outcomes Assessment FY23 (PDF, 490 KB).