2024 Superannuation Star Ratings & Awards
Australia’s biggest comparison site, Canstar, releases its
2024 Superannuation Star Ratings and Awards.
Released: 7 March, 2024
About the Superannuation Awards
Canstar’s Superannuation Awards recognise the providers offering outstanding value to Super customers across the 25 profiles considered in Canstar’s Superannuation Star Ratings that takes into account a range of ages and super balances.
Learn more about our Award process in the methodology.
Numbers crunched by Canstar Researchers
- 39 providers assessed
- 79 products rated
- 25 consumer profiles considered
- 6 award-winning providers
Read our methodology →
View the full Star Ratings results →
View all Star Ratings and Awards →
About this year’s awards
Canstar’s Superannuation Awards follow our unique and sophisticated methodology, which assesses the weighted score of a provider’s top performing options across the 25 individual profiles used for our Star Ratings.
Canstar’s Superannuation Star Ratings uses our unique ratings methodology, which considers investment performance, fees and product features across a number of superannuation products. Each eligible superannuation product reviewed is awarded points for its historical investment performance after fees and the array of features attached to the product.
In addition to being eligible for inclusion in our Star Ratings, a superannuation product must also be available nationwide in order to be considered for our Outstanding Value Award.
Congratulations to the Award winners
(Winners are listed alphabetically)
AustralianSuper
Outstanding Value – Superannuation Award
AustralianSuper has once again been recognised with an Outstanding Value Award for Superannuation in 2024, attributed to its strong historical returns and competitive fee structure. Canstar’s Research team noted, “As a result, its Balanced product achieved 5-Star in all profiles, with the exception of the 60s age consumer profile at the lowest balance amount ($30,000), where it achieved a commendable 4-Star rating.”
As Australia’s largest super fund, AustralianSuper provides its members with a diverse array of investment options, ranging from pre-mixed portfolios managed by the fund, to opportunities for members to exert full control over their investments.
Aware Super
Outstanding Value – Superannuation Award
Aware Super has been recognised with Canstar’s Outstanding Value Award for Superannuation in 2024. Aware Super’s MySuper product automatically adjusts members’ investment mix as they get older, from High Growth up to age 55, and then gradually taking on more defensive assets as they approach retirement age.
Canstar’s Group Manager, Research & Ratings, Josh Sale said, “The fund’s historical returns performance is among the strongest in the market for members aged in their 20s through to their 50s.” Mr Sale continues, “As members transition to options in their 50s to 60s, returns tend to ease off, however, these options remain a strong choice for members.”
HESTA
Outstanding Value – Superannuation Award
This year marks the first time HESTA has received an Outstanding Value Award for Superannuation. HESTA’s Balanced Growth option has demonstrated consistently strong performance across all 25 underlying Star Rating profiles, earning a mix of 4- and 5-Stars.
“Where other funds might take a more risk-averse approach leading up to retirement age, HESTA’s continued focus on growth allows members to continue growing their super balance right up to retirement age,” said Mr Sale.
Hostplus
Outstanding Value – Superannuation Award
Hostplus Super’s Balanced option continues to demonstrate a strong performance across all age and balance consumer profiles assessed by Canstar’s Research Team. Providing members with competitive investment returns over the historical period alongside competitive fees, Hostplus has consistently demonstrated its ability to deliver value for members.
Josh Sale said, “Hostplus has shown resilience in its ability to deliver market-leading returns during favourable market conditions, as well as the capacity to navigate challenges during downturns.”
UniSuper
Outstanding Value – Superannuation Award
UniSuper has earned an Outstanding Value Award for Superannuation this year, delivering value to its members through strong historical performance and competitive fees. Josh Sale, Canstar’s Group Manager, Research & Ratings, notes “Since its public launch in 2022, UniSuper has remained a consistently strong performer in Canstar’s Award evaluation.”
Mr Sale continues, “UniSuper’s growth-oriented portfolio invests a significant portion in international and Australian shares which has helped in achieving strong returns performance.”
Vision Super
Outstanding Value – Superannuation Award
This year, Vision Super has been awarded an Outstanding Value Award with its default Balanced Growth product, which Canstar’s Research Team found to offer strong historical performance, including returning over 11% as of December 31, 2023.
Vision Super is a profit-to-member fund with a history servicing former local government employees in Victoria.
Does Canstar rate other products?
Insurance
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About Canstar
Canstar also has insights and information about financial products and services generally. You can find out about topics such as: interest rates, buy now pay later (BNPL), business products and tax. You may also be interested in discovering more about calculators and resources, such as our rate checker and free credit score tool, to help you with your financial decision-making.
FAQs
About: Josh Sale, Group Manager, Research & Ratings
Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products.
As one of Canstar’s company spokespeople, Joshua has participated in print, radio and broadcast interviews with the likes of the Australian Financial Review, news.com.au and Money magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends.
Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.
Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.
You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.