Best MySuper Products award: Best of the Best 2020
The billions of dollars in default super provide a solid base for retirement
Savings invested in MySuper (default) products now accounts for more than a quarter of Australia's $3 trillion super system, and it's growing twice as fast as the overall system, analysis from Rainmaker Information shows.
Given the large role that MySuper plays, it comes as no surprise that Money's best super fund for 2020 is also the winner of the best MySuper products.
AustralianSuper has always been among the top-performing funds, whether it's over one, three, five or 10 years, and it's no easy feat in a hotly contested market.
This year its balanced (MySuper) product delivered its 10th consecutive year of positive returns for members.
Narrowly missing the top gong and coming in second is the Hostplus balanced product. It's almost splitting hairs when you compare the performance of the two top funds over 10 years.
In third place is Local Government Super's LGS Accumulation Scheme.