When it comes to managing your superannuation, choosing the right company can make a big difference in terms of returns and fees. Two of the most popular super funds in Australia are GESB and Australian Super. In this blog post, we will take a closer look at both companies, compare their similarities and differences, and provide user reviews on various platforms to help you make an informed decision.
GESB, or Government Employees Superannuation Board, is a super fund that was established in 1983 to provide retirement benefits to Western Australian government employees. Today, it is open to all Australians and offers a range of investment options, including both accumulation and defined benefit plans.
GESB aims to provide competitive returns and low fees while maintaining a strong focus on ethical and sustainable investments. They also offer financial advice and education to their members to help them make informed decisions about their retirement savings.
About Australian Super
Australian Super is one of the largest super funds in Australia, with over 2.4 million members and more than $180 billion in assets under management. It is a not-for-profit fund, which means that any profits are reinvested into the fund rather than being paid to shareholders.
Australian Super offers a range of investment options, including both accumulation and defined benefit plans, as well as insurance and financial advice services. They also have a strong focus on sustainable and responsible investing.
Similarities and Differences
Both GESB and Australian Super offer a range of investment options, including both accumulation and defined benefit plans. They also both offer insurance and financial advice services to their members.
- One key difference between the two funds is their size – Australian Super is significantly larger than GESB, which may give it an advantage in terms of negotiating lower fees and accessing a wider range of investment options.
- Another difference is their investment strategies – while both funds have a focus on ethical and sustainable investing, Australian Super has a more comprehensive approach to responsible investing, with a specific focus on climate change and reducing carbon emissions.
- Membership: Both funds are open to all Australians. However, GESB has its roots in providing retirement benefits to Western Australian government employees, while Australian Super is a national fund.
- Member Reviews: While GESB receives mixed reviews on customer service and investment options, Australian Super receives mixed reviews on customer service but positive reviews on investment returns.
To provide a more comprehensive view of both companies, we looked at user reviews on various platforms.
- On ProductReview.com.au, GESB has an average rating of 3.6 out of 5 stars, with reviewers praising their low fees and customer service but criticizing their lack of investment options.
- Australian Super, on the other hand, has an average rating of 4.2 out of 5 stars, with reviewers praising their ethical investing and competitive returns but criticizing their customer service.
Conclusion: GESB vs Australian Super – Which is Better?
When it comes to choosing between GESB Vs Australian Super, it ultimately comes down to your personal preferences and priorities. Both funds offer competitive returns and low fees, with a focus on ethical and sustainable investing.
In conclusion, if you are looking for a larger fund with a more comprehensive approach to responsible investing, Australian Super may be the better option. On the other hand, if you value customer service and a more personalized approach to financial advice, GESB may be a better fit.
Ultimately, the choice between these two superannuation funds will depend on your individual needs and preferences. Visit ThinkMoneyTrader for more financial bytes like this.