The 12 super fund with the most satisfied members

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Industry super funds increased their lead over retail funds based on member satisfaction over the last 12 months, according to the latest Roy Morgan Research results.

In May 2019, industry funds scored a 62.5 per cent satisfaction rating with financial performance, well above retail funds with 56.5 per cent.

This latest lead in satisfaction for industry funds of 6.0 per cent points is an increase from the 1.8 per cent points lead they held 12 months ago.

The best performer across all major industry and retail was Unisuper with 70.9 per cent, closely followed by Tasplan on 69.6 per cent.

The latest data in the Satisfaction with Financial Performance of Superannuation report is based on interviews conducted in the six months to May 2019.

The average member satisfaction of 56.5 per cent for retail funds represents a decrease of 3.7 per cent from the same period 12 months ago when satisfaction was 60.2 per cent.

Over the same period, industry funds improved by 0.5 per cent from 62.0 per cent in 2018 to 62.5 per cent in 2019.

One of the big items that could have resulted in such an enormous swing during this period would be the publication of the Banking Royal Commission report.

In May 2019, 10 of the top 12 performing retail and industry funds, based on member satisfaction with their financial performance, were industry funds, and the highest rating was for Unisuper with 70.9 per cent, followed by Tasplan on 69.6 per cent.

The only two retail funds to make it to the top 12 were Macquarie with 66.6 per cent and Mercer on 64.3 per cent.

The top 12 are by no means a uniform group, ranging from 70.9 per cent member satisfaction down to only 58.2 per cent for Sunsuper.

The lowest satisfaction for major super funds beyond the 12 best performers were the AMP (49.3 per cent), ASGARD (50.9 per cent) and BT (52.2 per cent).

Roy Morgan’s communications director Norman Morris said that how members felt about the performance of their fund was sometimes more important than performance tables, where figures can often be confusing.

“The overall assessment of satisfaction with financial performance by fund members clearly ranks the industry funds ahead of retail funds similar to the rankings given on performance tables,” Mr Morris said.

“This survey, however, has the added advantage of being able to understand the members behind the ratings rather than simply ranking the performance of the funds.”

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Written by Ben

39 Comments

Total Comments: 39
  1. 0
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    Personally I wouldn’t put my super in any of those super funds.

  2. 0
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    Personally I wouldn’t put my super in any of those super funds.

  3. 0
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    Well “Not a Bludger” do you have a comment about Industry Funds?

  4. 0
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    Well “Not a Bludger” do you have a comment about Industry Funds?

  5. 0
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    Don’t know why retail funds still in business, must be a lot of members not interested in looking after their own interests, retail funds won’t.
    CEO over the top salaries & shareholders first, Industry funds pur the members first.

  6. 0
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    We’re in an industry fund that is in the top ten so obviously satisfied. The discussion around industry versus retail overlooks the fact that people have a choice and what they choose to do with their super funds. It’s like arguing religion or politics, neither side will change their stance regardless of the facts presented.

  7. 0
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    How can you do a survey on customer satisfaction?
    Its like false advertising – show us the money stats not client optimism.

  8. 0
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    So where are all the government funded trolls posing as individuals now? Not a peep from them? Ok, the election is over. Stolen again so there’ll be little interest until next one comes around. What else is new.

    • 0
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      Mick you have to get over it you socialists got your arses kicked you put up two dickheads in Shorton and Bowen who where going to tax the backside off us and you wonder why they got beat and I can tell Albanese is not looking any better same low I.Q. as the others very low.

    • 0
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      Hi MICK, nice to see you back. Mate, you have had me pegged as a troll with a multitude of aliases and, like Labor, you are wrong. I am a simple individual who believes that Labor is not good for the nation and I voted for the Coalition. Mind you, the seat I am in is deep, deep red so my vote does nothing. I got a lot of satisfaction watching the faces of the panel on Our ABC on May 18th. I’m pleased you didn’t do what a lot of the dickheads did and state that they were going to New Zealand because Morrison won the unlosable election.

    • 0
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      Roby, the only reason sanity did not prevail at the last election was because the moronic Rightard public (predominantly from Qld) were brainwashed by Rupert Murdoch’s propaganda rags, and because of the dirty election deals done by that fat oaf Clive Palmer and the red-headed clown Pauline Hanson.

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      Old Man: ” I am a simple individual who believes that Labor is not good for the nation and I voted for the Coalition.”

      Simple indeed…

    • 0
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      intellego another socialist loser get over it you will have six more years of liberal because of the thick heads in the Labor party

    • 0
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      OM – ha ha, not long here for long. I drop in occasionally to study the form.
      In regard to the election that was an exercise of the right wing media plugging ‘good old Scotty’ who’s ‘one of you’. Pretty pathetic that a party with only one policy got back in. And that’s before one even looks at the track record.

      Australians may not have lost their franking credits but lets not fool ourselves that the the government is ruling for all of us. The dirt will come out. Its already started with the lies getting into gear.

      Having given some of the facts above I do have to say I had no faith in Shorten, and Albanese is not going to be much better. I saw the way the lot of them cringed after being rolled in the tax cuts for the wealthy vote. Pretty sad. Guess we’ll all have to get used to a totalitarian government in power and accept what we get. Won’t make much difference to us but it will to many who read on this page. Good luck OM. You may or may not be a troll but your writings indicate a lot. Me? I’ll fire at both sides when they behave badly or corruptly. The scorecard on that one must be clear to even you mate. Cheers.

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      Personally I wouldn’t put my trust in anyone the gives theirs to a fictional superior being, might as well put your trust in Marvel comics

  9. 0
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    Anyone know anything about Colonial First State, please?

  10. 0
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    Did any of you click on the link to the report?

    Hahahaha You have to pay $10,780 to read it!

    So unless you have more money than sense, you cannot even xhaeck what was being asked and how the questions were phrased. It is easy to get the response you want (in this case industry funds good, retail funds bad) by the way you ask and then report on the questions.

    Mind you I am not surprised Asgard reportedly scored low. I have never known anyone who didn’t have issues with them – mostly of the communication and slow to action variety.

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