Taste of freedom
Profits in this fast-growing fund are returned to members through improved products and services
Money magazine’s Best Super Fund Manager for 2019, Sunsuper, continues to be a leader in the superannuation market with a sharp focus on developing innovative ways to engage with customers while maintaining a clear commitment to delivering strong returns and maximising members’ retirement savings.
Sunsuper currently has $58 billion in assets under management for more than 1.3 million members. “This year has been another one of strong growth for Sunsuper,” says Sunsuper CEO Scott Hartley. “We continue to be the fastest growing profit-for-members fund in Australia and one of the nation’s largest, which allows us to deliver industry-leading products and services for our members.”
Sunsuper has a strong focus on improving the member experience and making it easier for them to interact with the fund across all channels.
“Every interaction we have with our members is driven by our desire to help them achieve financial freedom and live the retirement of their dreams,” says Hartley. “As a profit-for-members fund, we return all our profits to members through enhanced products and services. One real and significant example of this was continuing a huge program of digital transformation this year, which allowed us to make substantial improvements to the customer experience.
“We have also continued to evolve our Dream Project, which is our digital education hub providing members with interactive content that is relevant and valuable. Additionally, our Dream Rewards program, which gives members access to offers and discounts on holidays, experiences and everyday items, also continues to grow as we help our members not only maximise their future savings but also save money for today.”
The Sunsuper for Life product has an extensive investment menu of 20 diversified and single asset class options (as at August 31, 2018). The balanced option has outperformed the SuperRatings SR50 Balanced Index over the short and long term; as at August 31 the balanced option had returned 7%pa over 10 years for its superannuation members, compared with an industry median of 6.6%.
Administration fees for the balanced option are lower than the industry median across a range of account balances. Sunsuper’s fixed-dollar member fee of $78pa is in line with the median, while the investment-related fees and costs for its balanced option are 0.87%pa (including performance fees). No establishment, contribution or investment switching fees are applicable, although there is an exit fee. KIRBY RAPPELL, CEO, SUPERRATINGS