For Australians, choosing the right superannuation fund can be a daunting task. With so many options available, it can be difficult to know which one is right for you. In this article, we will be comparing two of Australia’s largest superannuation funds, UniSuper vs AustralianSuper, to help you make an informed decision.
UniSuper is a superannuation fund that is exclusively for employees working in the higher education and research sector in Australia. It was established in 1993 and has since grown to become one of Australia’s largest superannuation funds, managing over $90 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.
AustralianSuper is 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 and self-directed options, as well as insurance and financial advice services.
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Differences between UniSuper vs AustralianSuper
As mentioned earlier, UniSuper is exclusively for employees working in the higher education and research sector in Australia, while AustralianSuper is open to all Australians.
UniSuper offers a range of investment options, including pre-mixed and self-directed options. AustralianSuper also offers a wide range of investment options, but they do not offer self-directed options.
Both charge fees for their services. UniSuper’s fees are generally lower than AustralianSuper’s fees, but this can vary depending on the investment option chosen.
Both offer insurance as part of their services, but UniSuper offers a wider range of insurance options.
Both UniSuper and AustralianSuper have performed well in recent years, but AustralianSuper has generally outperformed UniSuper in terms of investment returns.
Table of Comparison
|Membership eligibility||Exclusive to higher education and research sector employees||Open to all Australians|
|Investment options||Pre-mixed and self-directed||Pre-mixed options only|
|Fees||Generally lower||Generally higher|
|Insurance||Wider range of options||Fewer options|
|Performance||Generally lower returns||Generally higher returns|
Which Superannuation Fund to Choose?
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.