UniSuper vs AustralianSuper – A Comprehensive Comparison

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 vs AustralianSuper
UniSuper vs AustralianSuper

About UniSuper

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.

About AustralianSuper

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.

Also Read : HESTA Vs AustralianSuper

Differences between UniSuper vs AustralianSuper

Membership eligibility:

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.

Investment options

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.

Fees

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.

Insurance

Both offer insurance as part of their services, but UniSuper offers a wider range of insurance options.

Performance

Both UniSuper and AustralianSuper have performed well in recent years, but AustralianSuper has generally outperformed UniSuper in terms of investment returns.

Table of Comparison

FeaturesUniSuperAustralianSuper
Membership eligibilityExclusive to higher education and research sector employeesOpen to all Australians
Investment optionsPre-mixed and self-directedPre-mixed options only
FeesGenerally lowerGenerally higher
InsuranceWider range of optionsFewer options
PerformanceGenerally lower returnsGenerally higher returns

Which Superannuation Fund to Choose?

Choosing between UniSuper and AustralianSuper ultimately comes down to your individual needs and circumstances. If you work in the higher education and research sector, UniSuper may be the better option for you, while AustralianSuper may be a better fit if you are looking for a fund that is open to all Australians.

Both funds offer a range of investment options and insurance services, but UniSuper has lower fees and a wider range of insurance options, while AustralianSuper has generally outperformed UniSuper in terms of investment returns.

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.

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