Best of the Best 2025: Best Pension Fund
UniSuper has been named Money's Best Pension Fund as part of the Best of the Best awards.
You have to hand it to UniSuper. This is the third consecutive year it has taken out this award. What is it doing differently from its competitors?
"Retirement is in UniSuper's DNA," says UniSuper CEO Peter Chun.
"Our mission for over 40 years has been to provide great retirement outcomes for our members. We're constantly raising the bar on ourselves, asking 'what can we do better?' to serve our members.
"At UniSuper, this is a mindset that everyone at every level of the organisation is asked to embody every day. And, like super itself, regular contributions over time compound to have a big impact."
This has seen UniSuper's approach defined by personalisation. "We believe in empowering members with information and supporting them with advice to really personalise what retirement means to them. That's a key difference," says Chun.
For Australians approaching retirement, he says it has never been easier to switch funds - and that's a good thing for members.
"It means that funds must think deeply about the member experience," says Chun. "The relationship between a member and a fund in the retirement phase is very different to that in the accumulation phase."
He says the accumulation phase is "all about helping members save money". In retirement, the focus switches to "giving members confidence to spend, so they can navigate the retirement they've earned with peace of mind".
This means looking for "a fund that reflects personal needs in retirement - a fund that provides the necessary products, services, education
guidance and financial advice that enables members to make the best informed decision for their unique retirement circumstances."
UniSuper provides its members with access to qualified simple advice, which it calls 'Select Advice', at no additional cost.
"When it comes to members approaching retirement, they don't talk to us about products or speak in jargon," says Chun. "Members come to us with questions like: How much income will I need? Do I have enough money in super? Will I get the age pension?
"Some of these questions seem simple, but even simple questions can lead to complex answers. And the answers are not one-size-fits-all responses. We believe it's vital to offer a personalised service to empower our members and give them confidence to spend and retire well."
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