AustralianSuper is the largest industry super fund with more than 2 million members, QSuper Lifetime charges consistently low fees across all life stages and balance tiers, Virgin Money Super Lifestage Tracker continually adjusts your investment mix to suit your age and lifestage. Fees, on the other hand, are fixed and are within your control. Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. This is because the fees you pay will impact the returns you get, as fees are deducted from returns. While future you seems far away, there are a few things that current you can do to help them out. You are about to post a question on finder.com.au: Subscribe to the Finder newsletter for the latest money tips and tricks, Level 10, 99 York St, Generally from the moment you start working and earn above $450, you’ll be putting money aside for your super with a fund like AustralianSuper. Superannuation in Australia are the arrangements put in place by the Government of Australia to encourage people in Australia to accumulate funds to provide them with an income stream when they retire. For this reason, you can't declare one single super fund product as the best-performing fund as you wouldn't be comparing apples with apples. You should consider whether the products or services featured on our site are appropriate for your needs. Trying to decide between AustralianSuper and Sunsuper? Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. However, a high growth fund will also be much higher risk with more volatile returns in the short term. . We value our editorial independence and follow editorial guidelines. Its default investment option, AustralianSuper Balanced, is consistently one of the top performing growth super funds year after year. Where the performance, fees and insurance data for the MySuper fund vary according to the member's age, results for When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. Growth funds are where the majority of Australians have their super invested. She has written about finance for over seven years, with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. But if you're already set on joining an industry super fund, here's our top pick. Past performance is not a reliable indicator of future performance and not a guarantee of future returns. The data is according to Chant West. AustralianSuper is an industry superannuation fund run only to profit members. By opting for a fund with low fees, you know you won't be paying too much even when investment markets are volatile and returns are lower. It offers 15 different lifestage investment allocations within the one product, while many others only offered a few different life stages. Because index funds simply mirror an established index, they are often passively managed and are therefore much cheaper to invest in. We don’t AustralianSuper vs Sunsuper: How do these super funds compare? If you do, you'll be taxed from 15% to 30% depending on your income. HESTA is an industry super fund for the health and community services sector and open to all Australians. Winner, finalists and methodology for Finder Awards 2020 Best Super Fund - Balanced. Currently you should also make some savings goals. QSuper's default investment product, QSuper Lifetime, is our top pick for a low-fee MySuper product. Growth funds are usually the default investment option when joining a super fund, and are often the Balanced or MySuper products. Superannuation (or ‘super’) is money set aside while you’re working, so you’ll have money to live off when you retire. individuals between 40-49 years of age have been shown. Instead of looking at every single super fund investment option in the market, let's take a look at the best-performing growth super funds. Its Lifecycle Balanced option invests your super in a mix of growth assets, and reduces your risk when you're near retirement. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Performance, fees and insurance data is based on each fund's default MySuper product. AustralianSuper is our top pick for industry super funds. Your super fund will be "stapled" to you from job to job, and if your fund is under performing it'll be named and shamed by the government. In a nutshell; high performance returns will help your super balance grow bigger (and quicker!) Cover includes Total & Permanent Disablement Income Protection and Death.