Posted on 01/08/2018
Superannuation is a funny thing. You can’t access it until you retire, so for many of us, it’s ‘set and forget’. However, super is incredibly important – in fact, it will most probably be one of your largest assets come retirement.
Having a happier, more prosperous future can be dependent upon the super fund that you’re with. Not selecting the right fund can cost you thousands of dollars in the long run.
So here’s 5 reasons why Statewide Super is a great choice for you and your super.
1. Our investment performance is among the best in the country
One of the most important considerations when selecting a super fund is a track record of strong long-term investment performance.
For most people, the money in their super account is invested by the fund – therefore, joining a super fund with a history of robust investment returns is something you should consider.
There are multitudes of super funds in Australia, each of whom have different investment performance – some good, some mediocre and some poor. Doing your due diligence can mean you accrue thousands of extra dollars in your super account over your lifetime.
Statewide Super has outstanding long-term investment performance, in fact, we are one of the best performing super funds in the country!* Our default MySuper investment option on average returned 10.74%* p.a. over five years to 30 June 2018, ranking 2nd out of 41 super funds nationally, according to independent rating agency SuperRatings.*
The chart below shows the returns of Statewide Super’s MySuper option since inception relative to the median MySuper return. We continue to comfortably exceed most of our peers since MySuper was launched in 1 July 2013.
Source: SuperRatings Fund Crediting Rate Survey June 2018. For further information visit: www.superratings.com.au. This graph assumes that $100,000 was invested in the Statewide Super MySuper option on 1 July 2013 and no contributions were made between 1 July 2013 and 31 March 2018. Investment returns are net of investment fees, tax on investment income and administration fees. For information on other fees that may apply, see our “Fees and Costs” booklet.
2. We aim to make a difference – to our members, our community and the planet
These days, customers don’t just want to buy from organisations who are doing well – they want to align themselves with organisations who are doing good.
Statewide Super endeavours to make a difference in the world and make a significant positive impact to our communities. Inspired by our strong internal values, the fund supports a range of philanthropic projects, events and organisations that are creating positive change and transforming lives.
Our investment philosophy is also aligned with our values. Not only are Environmental, Social and Governance (ESG) considerations taken into account in all investment decision-making, but Statewide Super is also a signatory to a variety of networks and associations including the United Nations Principles for Responsible Investment, the Investor Group on Climate Change, The Carbon Disclosure Project and The Australian Council of Superannuation Investors.
We are proud to live our values by encouraging staff volunteering, by offsetting 100% of our carbon emissions annually, by launching our inaugural Reconciliation Action Plan, and by being a champion for women’s sport in South Australia.
3. We’re an award-winning super fund, that’s received top ratings
The majority of Australian super funds are rated by independent rating agencies on a range of criteria, from investment performance and fees, to insurance and communications. These ratings provide an indication as to the overall quality of the super fund.
Statewide Super is proud to have been awarded the highest Platinum rating by SuperRatings, the highest 5-Apples rating by Chant West, the highest 5-star rating by Heron, as well as the highest 5-star rating with financial consumer organisation CANSTAR.^
We are proud to be one of only seven super funds nationally to receive a 5-star CANSTAR rating, giving our members peace-of-mind that their money is in good hands.
These 2018 ratings are evidence of our competitive fee structure, impressive investment performance* and quality products and services that are in the top echelon of the super industry.
4. We’re local and take our personalised service seriously
As consumers, great service is something that we’re all after – whatever the product. As one of the few remaining financial institutions based in South Australia, but servicing members around the country, Statewide Super is passionate about providing our members with competitive fees and quality, local service – whether it’s face-to-face or over the phone.
Being ‘local’ means that we take an active interest in our local communities and invest back into the communities that support us. For example, we invest in South Australian infrastructure including Adelaide Airport and Flinders Ports. In the Northern Territory, we support indigenous football and for those members living in remote areas, our network of accredited financial advisors can talk to members about their Statewide Super account, wherever they may be located.
As evidence of our service excellence, Statewide Super was awarded the ‘Workplace Fund of the Year 2016’ by independent rating agency Selecting Super – which is a testament to our outstanding personalised approach.
5. You receive serious value-additions as a member
Statewide Super has thought long and hard about how we can reward members for their loyalty, and how we can enrich their experience with the fund. Here are just a few ways that that we are making members’ super experience, truly super!
1. As a member you have access to the Statewide Super Member Rewards program saving you serious cash with hundreds of Australian retailers. From Coles, Woolworths and Bunnings to JB Hi-Fi, Target and Freedom – the rewards program includes all your favourite brands!
2. Members can receive personal advice at no additional cost on their Statewide Super investment selection, insurance and contribution levels, either face-to-face or over the phone. Having this type of advice about your super strategy can make all the difference to your super balance at retirement.
3. If your employer pays your super to Statewide Super (and you meet certain basic eligibility criteria), you will be provided with a default level of insurance cover to protect you and your family. Insurance cover includes Life and Total and Permanent Disablement cover as well as Income Protection.
4. We know that not everyone is as good with money as we are, in fact the vast majority of Australians will claim that they don’t understand the basics when it comes to managing their finances. At Statewide Super, we take member education seriously and aim to empower members to make the best financial decisions. Check out our Tips on Money Management learning platform, our blog – Your Super Life, and our regular seminar program available to members and non-members at no cost.
So if you’re considering a super fund, you can’t go past Statewide Super. To learn more, visit our website or join online today!