UniSuper pension fees rated lowest in Australia

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UniSuper, the $66 billion super fund for the higher education and research sector, is leading the super and pension funds industry in lower fees, according to Chant West’s December 2017 fees surveys.

UniSuper’s Flexi Pension default Balanced investment option was ranked the lowest-fee option in its category across all balances reviewed ($100,000, $250,000 and $500,000) in the Chant West December Pension Fees Survey.

Fees for UniSuper’s accumulation default Balanced (MySuper) investment option ranked the lowest in Australia for $250,000 balances, and second and fourth lowest for $50,000 and $25,000 balances respectively, the December Super Fee Survey showed.

UniSuper Head of Product, Ian Lorimer, said keeping fees low was a key priority for the profit for member super fund.

“These results reflect our hard work in balancing great value and excellent service, as well as providing relevant choice to members,” he said.

“We continue to focus on driving efficiencies across our operations to ensure our members continue to enjoy great value.”

Focus on strong, long-term returns

UniSuper has also maintained strong long-term investment performance compared to industry averages, according to research company, SuperRatings.

Its default Balanced option for Flexi Pension and Accumulation 1 members recorded first quartile investment returns over five, seven and 10 years, SuperRatings’ February 2018 Fund Credit Rating Survey showed1.

These results round off a stellar year for UniSuper, which in 2017 was awarded Pension Fund of the Year and Best Fund, Advice Services by Chant West.

“As an organisation that has been built for members, we will continue our focus on supporting members through their working life and beyond, with a flexible and cost-effective range of solutions,” Mr Lorimer said.

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