Chant West reveals Super Fund of the Year 2019 finalists

Posted: 25 March 2019 6:18 pm News

Girl working in cafe behind counter. Image: ShutterstockAustralianSuper, QSuper and Sunsuper are among the 10 funds named as finalists for the Super Fund of the Year 2019 award.

Australia's biggest super fund AustralianSuper has been named a finalist for Super Fund of the Year 2019 in leading superannuation research group Chant West's annual awards event. Sunsuper was named Chant West's Super Fund of the Year 2018, with this year's winner to be announced at the awards ceremony on 22 May.

Along with AustralianSuper, nine other funds were announced as finalists for this year's top spot including CareSuper, CBus, First State Super, HESTA, Hostplus, QSuper, Rest, Sunsuper and UniSuper.

The theme of this year's awards is "It's all about the members", so while this year's awards has a focus on how a fund was benefiting members, there are a few other key areas that funds are judged on. A big part of the selection process for the Super Fund of the Year award looks at the investments the fund offers to members, while member services also account for almost a third of the final score. Fees, insurance and organisation of the fund are also factors that are considered during the judging process.

Head of research at Chant West Ian Fryer said the theme of this year's awards being all about the members is fitting considering the attention the sector has received over the past 12 months.

"All eyes have been on the superannuation industry in recent times, with both the Productivity Commission and Royal Commission highlighting areas of weakness in our industry. And in particular, some funds have been shown to have failed their members. These inquiries have put super fund members and their interests front and centre, which is exactly where they should be. Superannuation is all about them!" he said.

Along with the overall winner, which is named as the Super Fund of the Year, there are a number of more specific awards that the funds are up for. These include the Best Fund for Member Services, Best Fund for Investments and Best Fund for Insurance.

If you're thinking about switching super funds, compare your options here.

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