ANZ Smart Choice Super

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ANZ Smart Choice Super is a retail super fund. It is distributed by ANZ and membership is open to all.

Types of ANZ Smart Choice super accounts 

ANZ Smart Choice Super

ANZ Smart Choice Super is the main product available to members who open their own account. ANZ Smart Choice Super members have access to a range of investment options, including: 

  • Lifestage option: This option automatically adjusts your investment asset class mix as you age. At the time of writing there are seven lifestage options available, for people born in the 1940s, 1950s, 1960s, 1970s, 1980s, 1990s and 2000s.
  • Choose Your Own investment mix: Take a more active role by choosing to invest in one or more of the following investments.
  • Multi asset class options: Conservative, Moderate, Growth.
  • Single asset class options: Cash, Australian Fixed Interest, Global Fixed Interest, Global Property, Australian Equities, International Equities Hedged, International Equities Unhedged.

Some of the other features offered by ANZ Smart Choice Super include: 

  • Death (including Terminal Illness), Total and Permanent Disability (TPD) and Income Protection cover. As with any insurance product, consider checking the cover amount, any exclusions, limitations or other conditions that may apply, as well as the premiums you would be charged before deciding whether it suits your needs.
  • ANZ Smart Choice Pension account to access a regular income stream in retirement
  • Super account access through ANZ Internet Banking or the ANZ app
  • Members whose employer opened their account also have access to a larger range of single and multi asset class investment options, and depending on the employer may have Tailored Death and/or TPD insurance cover.

How to join ANZ Smart Choice Super

Before committing to a particular fund, consider comparing your options with Canstar and checking out our choosing a super fund checklist. You can also read ANZ Smart Choice Super’s product disclosure statement (PDS), which could help you decide whether its product offering is suitable for your needs.

If you decide to join ANZ Smart Choice Super, you can open an account online, log in to ANZ Internet Banking if you are already an ANZ customer or call ANZ on 13 12 87.

Finally, remember to tell your employer that you’ve joined ANZ Smart Choice Super. Your employer should give you a Superannuation Standard Choice Form to fill out, sign and return to them.

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How is my super invested with ANZ Smart Choice Super?

ANZ Smart Choice Super offers a choice of 11 investment options at the time of writing. These are made up of the lifestage default option which automatically adjusts your investment mix as you age, and seven single asset class options and three multi asset class options.

If you don’t make a decision as to how your money will be invested, ANZ Smart Choice Super says members will be invested into the Lifestage option applicable to their age. You can change your investment options through ANZ Internet Banking.

For more details on what each ANZ Smart Choice Super investment option entails, you can contact ANZ or read the PDS and other documentation on its website.

Does ANZ Smart Choice Super offer an ethical investment option?

Members of ANZ Smart Choice Super whose employer opened their account have access to the Alphinity Sustainable Investment – Australian Shares investment option. This option aims to invest in companies that positively impact society’s economic, environmental and social development. In particular, companies that subscribe to the advancement of the UN Sustainable Development Goals.

What fees does ANZ Smart Choice Super charge?

ANZ Smart Choice Super charges a variety of fees to its members in return for managing their superannuation savings. At the time of writing, some of its fees include:

  • Investment fees, which may vary from depending on the investment option
  • Administration fees
  • Insurance fees

Bear in mind that other fees may apply. Consider checking ANZ Smart Choice Super’s product disclosure statement (PDS) for details. You can also compare the annual fees for ANZ Smart Choice Super’s default investment option to other super funds’ fees on Canstar’s database.

Can I consolidate my super with ANZ Smart Choice Super?

Yes, according to ANZ you can log in to your ANZ Internet Banking account and use the ATO SuperMatch service to consolidate your super accounts.

ANZ Smart Choice Super is issued by OnePath Custodians and distributed by ANZ. ANZ has a long history of more than 180 years. ANZ is one of the big four banks of Australia, and is the largest banking group in the New Zealand and Pacific region.

This content was reviewed as part of our fact-checking process.

Written by: Tom Letts | Last updated: October 1, 2021