Rest Super and AusSuper are two of the largest superannuation funds in Australia, both of which provide various investment options to members.
However, there are some differences between the two funds that may make one a better fit for certain individuals.
Rest Super
Rest Super is an Australian industry superannuation fund that was established in 1988. It is a public offer fund, which means that anyone can join regardless of their employment status. Rest Super has over 2 million members and manages over $60 billion in funds.
One of the key features of Rest Super is that it offers a wide range of investment options to suit different risk profiles and investment goals. Members can choose from pre-mixed investment options or create their own portfolio from a range of asset classes, including Australian and international shares, property, fixed interest, and cash.
Rest Super also offers a number of insurance options to protect members and their families in the event of illness, injury, or death. This includes death and total and permanent disablement (TPD) insurance, as well as income protection insurance underwritten by TAL Life Ltd.
In terms of fees, Rest Super charges a percentage-based administration fee of 0.10% per annum on account balances, with a maximum cap of $750 per year. There are also investment fees that vary depending on the investment option chosen. However, Rest Super does not charge any entry or exit fees.
Rest Super provides a range of resources and tools to help members manage their super, including online account access, financial advice, and education programs. Members can also access their super through a Rest mobile app, which allows them to view their account balances and transaction history, as well as make contributions and switch investment options.
Rest Super is a well-established and respected superannuation fund that offers a range of investment options and insurance products, as well as a range of resources and tools to help members manage their super. Its low fees and strong performance track record make it a popular choice for many Australians.
AusSuper
AusSuper is one of the largest industry super funds in Australia with over 2.2 million members and over $200 billion in funds under management. The fund was established in 2006 and has since grown to become one of the most popular super funds in the country.
One of the key features of AusSuper is its focus on low fees.
The fund has consistently ranked as one of the lowest cost super funds in Australia, which means that more of members’ money is going towards their retirement savings. In addition to low fees, AustralianSuper also offers a range of investment options, including pre-mixed options and a range of sector-specific options, so members can choose an investment strategy that suits their individual needs and risk tolerance.
Another key feature of AusSuper is its strong performance.
Over the long term, the fund has consistently delivered strong returns for its members, with an average return of 8.6% p.a. over the past 10 years (as of June 2021). The fund’s investment strategy is based on a long-term approach that aims to deliver strong, sustainable returns for members over the course of their working lives.
AusSuper also offers a range of additional features and benefits, including insurance cover for members, financial advice services, and access to member benefits such as discounted health insurance and banking services. The fund is also committed to responsible investment, with a focus on environmental, social and governance (ESG) considerations in its investment decisions.
AusSuper is a popular choice for many Australians due to its low fees, strong performance, and range of additional features and benefits. However, as with any super fund, it’s important to do your research and compare different options to find the one that best suits your individual needs and circumstances.
Conclusion
Both Rest Super and AusSuper are reputable superannuation funds that offer various investment options to members.
However:
- Rest Super may be a better fit for individuals who want more control over their investments and are willing to pay slightly higher fees for access to a broader range of options.
- Whilst, AusSuper may be a better fit for individuals who want a simple, low-cost option and are comfortable with a more limited range of investment options.
Ultimately, the choice between the two funds will depend on individual circumstances and preferences.