When it comes to choosing a superannuation fund in Australia, two of the largest industry super funds are Aware Super and Australian Super. Both funds offer a range of investment options and benefits, but there are also key differences between them that can make one more suitable than the other depending on your individual circumstances.
In this blog, we’ll take a closer look at Aware Super vs Australian Super, comparing their features and benefits, as well as exploring user reviews to help you make an informed decision about which fund might be the right choice for you.
About Aware Super
Aware Super is one of the largest industry super funds in Australia, with over $135 billion in funds under management and over 1.2 million members. It was established in 2019 through the merger of First State Super and VicSuper, and it offers a range of investment options across different asset classes.
Aware Super has a strong focus on responsible investing and has been recognized for its commitment to sustainability and ethical practices.
About Australian Super
Australian Super is the largest industry super fund in Australia, with over $230 billion in funds under management and over 2.2 million members. It was established in 2006 and offers a range of investment options across different asset classes.
Australian Super has a strong focus on delivering strong returns to its members, as well as providing a range of benefits such as insurance and financial advice.
- Both funds offer a range of investment options across different asset classes, including shares, property, and fixed interest.
- Both offer insurance options to protect members in the event of death or disability.
- Both have online portals that allow members to manage their accounts and track their investments.
- Australian Super is the larger of the two funds, with more members and funds under management.
- Australian Super has a stronger focus on delivering strong returns to its members, while Aware Super has a stronger focus on responsible and sustainable investing.
- It also offers a wider range of investment options than Aware Super, including options for self-managed super funds (SMSFs).
- Australian Super generally charges higher fees than Aware Super, although the exact fees will depend on the investment options chosen.
✅ Also Read: HESTA Vs Aware Super
Read: GESB Vs Australian Super
Aware Super Vs Australian Super – Table of Features Comparison
To help you compare these funds more easily, here is a table summarising some of the key features of each fund:
|Feature||Aware Super||Australian Super|
|Membership||Open to all Australians||Open to all Australians|
|Investment options||Wide range of options across different asset classes||Wide range of options, including SMSF options|
|Ethical and sustainable investing||Strong focus on responsible and sustainable investing||Strong focus on delivering strong returns to members|
|Fees||Generally lower fees than Australian Super||Fees vary depending on investment options chosen|
|Insurance||Offers a range of insurance options||Offers a range of insurance options|
|Customer service||Generally high levels of customer service||Generally high levels of customer service|
|Performance||Generally strong performance, with a strong track record of delivering solid returns to members||Strong focus on delivering strong returns to members|
To get a sense of how members feel about Aware Super and Australian Super, we looked at user reviews on a range of platforms. Here’s a summary of what we found:
- Positive reviews praised the fund’s strong focus on responsible and sustainable investing, low fees, and high levels of customer service.
- Negative reviews tended to focus on difficulties with the online portal and processing withdrawals.
- Positive reviews praised the fund’s strong focus on delivering strong returns to members, wide range of investment options, and high levels of customer service
- Negative reviews tended to focus on high fees and difficulties with the online portal.
It’s worth noting that user reviews can be subjective and may not reflect the experiences of all members.
✅ Also Read : Ubank Vs Macquarie
Conclusion – Which to Choose?
Both Aware Super and Australian Super are well-established industry super funds that offer a range of investment options and benefits to their members. The right choice for you will depend on your individual circumstances and priorities.
Ultimately, it’s important to do your own research and compare the features and benefits of both funds before making a decision. You may also want to seek financial advice to ensure you make an informed choice that aligns with your long-term financial goals. Visit ThinkMoneyTrader for more financial bytes like this.