Why the ANZ Smart Choice super fund is a smart move


This week Rainmaker has selected ANZ's Smart Choice super fund as our Where to Invest fund of the week.

Anyone who's been watching how low-fee superannuation products have changed the market would have heard a lot about ANZ Smart Choice. But is it any good?

About the fund

anz smart choice super

Smart Choice is a low-cost streamlined superannuation product offered by the ANZ banking group. It contains a simple investment mix of either lifestage choices, low-cost strategy and asset class choices, or investment manager and asset class choices for investment-savvy members.

It has a total fee of 0.6% for lifestage members, making it one of the lowest-cost public offer super products in Australia for all types of people including MySuper, personal and pension members. If you opt to use the extra investment choices you'll pay extra, however.

Investment performance

ANZ Smart Choice's life-stage stream comprises six options based on the decade when the member was born. It also offers 10 other low-cost, diversified and asset class choices. These investment choices are predominantly based on indexed strategies that seek to match the performance of their asset class.

Smart Choice has only just celebrated its third birthday, meaning it's still a young product. But the signs are good as all of its six lifestage options have matched or beaten their medium-term age group benchmarks and five of the six beat the SelectingSuper MySuper workplace benchmark for single-strategy funds.


Like most super funds, ANZ Smart Choice also offers death, combined death/TPD and income protection insurance. Prices for its insurance start at less than $1 a week with default cover ranging from $100,000 for young members up to $300,000, although members can purchase extra cover up to a limit of $3 million for TPD cover.

Rainmaker SelectingSuper's conclusion

If you think a lifestage product makes sense for you, ANZ Smart Choice is worth adding to your shortlist.


Tanya Jones
July 27, 2016 7.07pm

This is the good news for all peoples, Because we don't worry about the retirement life because Sutherland is always with you for more details log on to

July 28, 2016 6.49am

I was injured with a permanent disability and received $100k payout. How can I best make this money work for me ?

Money Team
July 28, 2016 10.27am

Hi Phil, thanks for your comment. While we can't offer you any advice ourselves, we can definitely tee you up with professional advice in our Ask the Experts column. If you're interested please email Susan Hely at Please be aware that this will also involve publishing a photo of you.

- Money team

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