Top 5-Star Rated Account-Based Pensions In 2017

Canstar has revealed the latest Account-Based Pension Star Ratings research, rating 64 products from 57 pension providers.

Canstar is pleased to unveil the latest batch of Account-Based Pension Star Ratings. Out of the 64 different account-based pensions rated, 10 products achieved a 5-star-rating for at least one retiree profile.

The Canstar Account-Based Pension Star Ratings takes into account both the cost and features of products to help consumers compare. Canstar even goes as far as to ask each fund more than 100 questions regarding their product, for instance asking about:

  • Available investment options
  • Income payment options
  • Financial advice availability
  • Beneficiary options
  • Cost involved (fees)

Find out more about what Canstar looks for in an account-based pension, and trends in terms of what other retirees are looking for based on our database.

Different profiles for account-based pensions

Since Canstar understands that retirement needs and financial strategies will vary from person to person depending on their financial position, three different investor profiles are used in rating account-based pensions:

  1. Low Balance:  $100,000 average balance
  2. Medium Balance:  $400,000 average balance
  3. High Balance:  $700,000 average balance

Outstanding value 5-star rated account-based pensions

Every year, Canstar assesses account-based pension products, considering the fees and costs a consumer will pay and what they get in return. Our 5-star winners are a shortlist of products that we assess as providing outstanding value for money relative to other products on the market.

Features we assess include the range of managed funds and other investments members may be provided access to, the financial advice and education made available, ability for members to open an account and make changes online or over the phone, and options in terms of income payments and nominating a beneficiary.

The outstanding value 5-star rated account-based pensions for each of our investor profiles are listed below.

1. Low balance investors

See our comparison table for full star ratings.

Company Product
ANZ ANZ Smart Choice Pension
Australian Meat Industry Super AMIST Pension
BUSS Queensland BUSSQ Pension Choice
Club Plus Superannuation Club Plus Pension
ING DIRECT ING Direct Living Super Pension
Local Government Super LGS Account-Based Pension Plan
Source: www.canstar.com.au as of 24 April 2017.

Considering other account based pension options? Check out our comparison table below, displaying a snapshot of the current star rating award winners market offerings for account based pensions. Please note that this table has been formulated on the basis of a balance less than $250,000 and is sorted by our star ratings (highest to lowest) .

Compare Account-Based Pensions For A Low Balance

2. Medium balance investors

See our comparison table for full star ratings.

Company Product
AMP Superannuation Limited Flexible Super Retirement Account – Choice
ANZ ANZ Smart Choice Pension
Club Plus Superannuation Club Plus Pension
HESTA HESTA Income Stream
ING DIRECT ING Direct Living Super Pension
Local Government Super LGS Account-Based Pension Plan
Sunsuper Sunsuper for Life Income Account
Source: www.canstar.com.au as of 24 April 2017.

 

Considering other account based pension options? Check out our comparison table below, displaying a snapshot of the current star rating award winners market offerings for account based pensions. Please note that this table has been formulated on the basis of a balance less than $250,000 and is sorted by our star ratings (highest to lowest).

Compare Account-Based Pensions For A Medium Balance

3. High balance investors

See our comparison table for full star ratings.

Company Product
AMP Superannuation Limited Flexible Super Retirement Account – Choice
ANZ ANZ Smart Choice Pension
Club Plus Superannuation Club Plus Pension
ING DIRECT ING Direct Living Super Pension
Media Super Media Super Pension
Sunsuper Sunsuper for Life Income Account
Source: www.canstar.com.au as of 24 April 2017.

 

Compare Account-Based Pensions For A High Balance

If you’re looking for an account-based pension, the products listed above provide outstanding value for different types of retired investors. Read our detailed Account-Based Pension Star Ratings methodology to understand why a pension might win a 5-star rating for a particular customer profile.

Canstar compares account-based pensions based on a number of factors including available investment options, income payment options, and the cost involved with having an account-based pension. Compare account-based pensions using our website and filter your search to find a 5-star rated pension:

Compare Account-Based Pensions

Discover more trends retirees need to know about when it comes to account-based pensions in 2017, with our latest star ratings report:

Account-Based Pension Star Ratings – Canstar

Important Notes:

The Star Ratings in this table were awarded in April 2017. The search results do not include all providers and may not compare all features relevant to you. View the Canstar Account-Based Pension Star Ratings Methodology and Report. The rating shown is only one factor to take into account when considering products.

To the extent that the information in this article constitutes general advice, this advice has been prepared by CANSTAR Research Pty Ltd A.C.N. 114 422 909 AFSL and ACL 437917 (“CANSTAR”).  The information has been prepared without taking into account your individual investment objectives, financial circumstances or needs.   Before you decide whether or not to acquire a particular financial product you should assess whether it is appropriate for you in the light of your own personal circumstances, having regard to your own objectives, financial situation and needs.  You may wish to obtain financial advice from a suitably qualified adviser before making any decision to acquire a financial product.  CANSTAR provides information about financial products. It is not a product provider and in giving you information it is not making any suggestion or recommendation to you about a particular product.  Please refer to Canstar’s FSCG for more information.

All information obtained by CANSTAR from external sources is believed to be accurate and reliable. Under no circumstances shall CANSTAR have any liability to any person or entity due to error (negligence or otherwise) or other circumstances or contingency within or outside the control of CANSTAR or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication, or delivery of any such information. Copyright 2014 CANSTAR Research Pty Ltd A.C.N. 114 422 909.  The word “CANSTAR”, the gold star in a circle logo (with or without surmounting stars), are trademarks or registered trademarks of CANSTAR Pty Ltd.   Reference to third party products, services or other information by trade name, trademark or otherwise does not constitute or imply endorsement, sponsorship or recommendation of CANSTAR by the respective trademark owner.

Sponsored products are paid advertisements and do not include all providers. Canstar receives a fee for referring you to the advertiser. Canstar is not giving you advice in relation to sponsored products.

Products displayed above that are not “Sponsored” are sorted by Canstar’s Star Rating and then alphabetically by company. Canstar may receive a fee for referral of leads from these products. See How We Get Paid  for further information. If you decide to apply for [type of insurance] insurance, you will deal directly with an insurance provider, and not with CANSTAR.

Consider the provider’s detailed product and pricing information before making a decision to purchase a policy. The products displayed on this page do not include all providers and may not compare all features relevant to you. View the Canstar Account Based Pension Star Ratings Methodology and Report. The rating shown is only one factor to take into account when considering products.

For more information, read our detailed disclosureimportant notes and additional information.. Any advice on this page is general and has not taken into account your objectives, financial situation or needs and is not a recommendation for your particular circumstances. Consider whether this advice is right for you. You may need financial advice from a qualified adviser.

The Star Ratings in this table were awarded in May, 2017 and data is as at that date, updated from time to time to reflect product changes notified to us by product issuers.

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