Hostplus vs AustralianSuper – Superannuation Funds Compared 2023
When it comes to choosing a superannuation fund, it’s important to consider your options and compare the features and benefits of each fund. In this article, we’ll be comparing two of Australia’s largest superannuation funds, Hostplus and AustralianSuper, to help you make an informed decision.
About Hostplus
Hostplus is an industry superannuation fund that is open to all Australians. It was established in 1987 and has since grown to become one of Australia’s largest superannuation funds, managing over $50 billion in assets. It offers a range of investment options, including pre-mixed and self-directed options, as well as insurance and financial advice services.
About AustralianSuper
AustralianSuper is also an industry superannuation fund that is open to all Australians. It was established in 2006 and has since grown to become Australia’s largest superannuation fund, managing over $200 billion in assets. AustralianSuper offers a wide range of investment options, including pre-mixed options, as well as insurance and financial advice services.
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Differences between Hostplus and AustralianSuper
- Investment options: Hostplus offers a range of investment options, including pre-mixed and self-directed options, while AustralianSuper offers mostly pre-mixed options.
- Fees: Both charge fees for their services. Hostplus has generally lower fees than AustralianSuper, but this can vary depending on the investment option chosen.
- Insurance: Both offer insurance as part of their services, but Hostplus offers a wider range of insurance options.
- Performance: Both have performed well in recent years, but AustralianSuper has generally outperformed Hostplus in terms of investment returns.
- Extra benefits: Hostplus offers a range of additional benefits, including discounts on flights and accommodation, as well as access to financial advice services. AustralianSuper also offers some additional benefits, such as access to member education resources.
- Membership eligibility: Hostplus is open to all Australians, while AustralianSuper is also open to all Australians but has a focus on industries such as construction, healthcare, and education.
- Investment performance: AustralianSuper has consistently outperformed Hostplus in terms of investment performance, although this can vary depending on the investment option chosen.
- Customer service: Both have a strong reputation for customer service, with Hostplus receiving awards for its customer service in recent years.
- Environmental and social responsibility: AustralianSuper has a strong focus on environmental and social responsibility, with investments in renewable energy and social impact projects, while Hostplus also invests in sustainable and responsible investments but to a lesser extent than AustralianSuper.
Table of Difference – Hostplus Vs AustralianSuper
| Features | Hostplus | AustralianSuper |
|---|---|---|
| Membership eligibility | Open to all Australians | Open to all Australians, with a focus on certain industries |
| Investment options | Pre-mixed and self-directed | Mostly pre-mixed options |
| Fees | Generally lower | Generally higher, but can vary depending on investment option chosen |
| Insurance | Wider range of options | Fewer options |
| Performance | Generally lower returns | Generally higher returns, but can vary depending on investment option chosen |
| Customer service | Strong reputation for customer service | Strong reputation for customer service |
| Environmental and social responsibility | Invests in sustainable and responsible investments, but to a lesser extent | Strong focus on environmental and social responsibility, with investments in renewable energy and social impact projects |
Conclusion: Choosing between Hostplus and AustralianSuper
Ultimately, the choice between Hostplus vs AustralianSuper comes down to your individual needs and circumstances. Both funds offer a range of investment options and insurance services, but Hostplus has generally lower fees and a wider range of insurance options, while AustralianSuper has generally outperformed Hostplus in terms of investment returns. Hostplus also offers a range of additional benefits, such as travel discounts and financial advice services.
It is important to do your own research and seek professional advice before making a decision on which superannuation fund to choose. Visit ThinkMoneyTrader for more financial bytes like this.
