You may have seen media articles saying super returns were negative for the year ending 30 June 2020 – that’s not true for our MySuper option, Balanced Growth, where most of our Vision Super members are invested.
Our Balanced Growth return for the financial year was 1.96% – which puts us in the top three MySuper funds when we are compared to the 50 largest MySuper products in the country, according to independent superannuation ratings agency SuperRatings. It also compares favourably with the median result in this survey, of minus 0.54%, as well as cash options. Our members in this option saw their balances end the year up, despite a global pandemic and market turmoil.
In fact, Balanced growth is top ten over longer time periods too:
(SuperRatings Fund Crediting Rate Survey, SR50 MySuper Index, June 2020)
Great news for retirees
Great news for our retirees as well because our Balanced Growth pension option also outperformed. It returned 2.22% compared with median return of minus 0.71%, making us the number 1 pension product in the SR50 Balanced survey according to SuperRatings. And we’re top five over three and five years as well. Over ten years, Balanced growth has returned 9.11% per year for our pensioners.
Return and fees are both really important when it comes to your ultimate retirement outcome – according to the Productivity Commission, being in an underperforming fund over a lifetime compared with a top quartile fund can mean by the time you retire, you could be $660,000 worse off. And high fees could mean a difference of $100,000. That’s a big chunk of your retirement nest egg.
Lowest average fees payable
The table below shows the lowest average fees payable on a $50,000 account balance for public offer funds. Republished from the SuperRatings website as at 30 December 2019.
So, with Vision Super, you don’t have to choose between performance or low fees – you can have both and that could mean you retire with more.
Anyone can join so if you’re not already a member, visit love.visionsuper.com.au and become a member today. Easy, convenient super just for you.