The super fund that provides the best service
Australian Super offers the best member services of all superannuation funds, according to the latest survey of 44 Australian superannuation funds by Investment Trends.
Australian Super, Australia's biggest super fund, was one of the first funds to offer a member direct option for self-directed members and rolled it out for the pension phase over the past year.
"The proliferation of self-directed account services on super admin platforms enable funds to use their education and engagement activities to help each member improve their retirement benefits," says Ian Webster, technology analyst at Investment Trends.
Webster says digital technology has been a great benefit for funds allowing them to deliver cost-effective member services.
Regulatory change, digital technology and the renewal of some funds' boards and executives are shifting superannuation funds from being just custodians of member funds to providers of member super account services.
Investment Trends ranked QSuper second followed by NGSSuper, Sunsuper and Hostplus.
Webster says Deloitte Digital's rebuild of QSuper's online channel with account based self-directed intra-fund advice from Decimal sets a new benchmark for core super account services.
Webster says superannuation funds are responding to the baby boomer retirement wave with retirement and investment advice.
He praised VicSuper, EquipSuper and Australian Catholic Super for their retirement income products.
The three outstanding superannuation funds for innovation in member services are Sunsuper for member involvement, AMP Flexible Super for member transactions and QSuper for member advice services.