5-Star Super Funds for Low Balances between $0-$55k

Do you have between $0 to $55,000 in your superannuation? See which super funds may offer better value for you.

No matter how small your nest egg is, it’s important to feel confident your money is in the right place to grow. While the path to retirement might seem a long one from a low balance, the compounding nature of returns over time can mean that every extra dollar of fees saved or returns earned now could be worth significantly more by the time you retire.

Canstar considers investment performance, fees and product features in assessing funds for its Superannuation Star Ratings to help Australians narrow their search to products that offer outstanding value for their needs and circumstances

That said, a super fund that offers outstanding value for a 45-year-old with $180,000 in their super might not offer the same value for a 20-year-old with $10,000 in their super. Canstar’s Superannuation Star Ratings reflects this, with super funds awarded Star Ratings across 25 different consumer profiles of varying ages and account balances.

The tables below display the 5-Star super funds on Canstar’s database in each age category (as rated in the Superannuation Star Ratings) for balances between $0 to $55,000:

18-29 year olds

The table below displays the 5-Star super funds on Canstar’s database for 18-29 year-olds with a super balance between $0 to $55,000, sorted by provider name (alphabetically).

30-39 year olds

The table below displays the 5-Star super funds on Canstar’s database for 30-39 year-olds with a super balance between $0 to $55,000, sorted by provider name (alphabetically).

40-49 year olds

The table below displays the 5-Star super funds on Canstar’s database for 40-49 year-olds with a super balance between $0 to $55,000, sorted by provider name (alphabetically).

50-59 year olds

The table below displays the 5-Star super funds on Canstar’s database for 50-59 year-olds with a super balance between $0 to $55,000, sorted by provider name (alphabetically).

60+ year olds

The table below displays the 5-Star super funds on Canstar’s database for 60+ year-olds with a super balance between $0 to $55,000, sorted by provider name (alphabetically).

Four tips to boost your super

According to Canstar’s Group Manager of Research and Ratings Mitch Watson, you can do the following four things to help boost a low super balance.

  1. Check your fees: “Fees have a large impact on your balance proportionally, so make sure you aren’t being overcharged.”
  2. Assess your insurance coverage: “Is insurance critical for you, and if so, is taking out a policy within your super the best option for you? Premiums may increase as you get older so these questions are worth asking if your super balance isn’t growing as fast as you’d like.”
  3. Select the right investment option: “Understand which investment option you are in and consider if it’s the right one for your lifestage and risk profile. Investing in cash isn’t necessarily going to grow your super balance at a quick pace; and conversely, going into aggressive could actually reduce your balance in the short term.”
  4. Consider making additional contributions to grow your balance: “Compulsory contributions will grow over the next few years but a bit extra now can really help you in the future.”

You can get help finding a super fund that has the right balance of fees, performance, features and investment options for you with Canstar.

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