Best super funds for 2012: And the winner is…

SUPERANNUATION research company SuperRatings named its Fund of the Year at an awards ceremony and dinner earlier this week.

The Melbourne event hosted almost 300 of the industry’s most prominent players and saw Brisbane-based Sunsuper emerge as 2012’s best fund. Telstra Super was named Super of the Year and Catholic Super Pension claimed Pension of the Year.

Sunsuper’s nomination as fund of the year is an acknowledgement of value for money on an aggregated basis across both superannuation accumulation and pension drawdown phases. And the fund is no stranger to the top spot at SuperRatings’ yearly awards galas.

“Sunsuper has maintained one of the industry’s leading pension products, having received the Pension of the Year award for the past three years,” SuperRatings director Jeff Bresnahan said.

“Following significant improvements to its insurance offering, Sunsuper offers a commanding whole of life retirement solution and is a worthy recipient of the SuperRatings Fund of the Year award.”

Bresnahan says the super industry is at a crossroads and the winners of this year’s hotly contested competition were those who best navigated recent economic challenges.

“With reviews of the tax, financial advice and superannuation system coming on the back of one of the most volatile and destructive periods in global financial history, it can be difficult at times to keep track of exactly where the industry seems to be heading,” he said.

“It is therefore important for funds to occasionally take a deep breath, step back and take stock of the situation, both at a macro and micro level.”

Winners were selected based on a comprehensive list of 450 criteria. The citations are meant to recognise funds at the forefront of product design, innovation and the delivering of promises to members.

The following tables list the competition’s top 10 super funds, top 10 pension funds and finalists for the special awards “Rising Star” and “Best New Innovation”. Groups are listed alphabetically.