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A note from the CEO

Statewide Super is proud to be named one of only three super funds in Australia to receive a Canstar 5-Star Rating^ for both Superannuation and Account Based Pension products in September 2020.

Statewide Super is excited to receive the 5-Star Rating for the fund's Account Based Pension product, adding to the 5-Star Rating we have held for our Superannuation MySuper product for the last three years running.

We are in the top 5% of our field and one of only three funds nationally (out of a field of 63) to receive a 5-Star Canstar Rating for both product categories proving we are able to compete alongside some of the mega-funds in Australia and demonstrate being a boutique Fund with close connections to members has distinct advantages.

These ratings continue to recognise the outstanding value Statewide Super provides to its members in their journey toward, and in retirement.

Our focus, first and foremost, is on our members and their retirement outcomes. With COVID-19 shining a spotlight on the importance of superannuation, we want to ensure we are doing everything we can to safeguard our members’ retirement savings.

Canstar is a highly respected ratings agency which researches and rates superannuation institutions to determine the financial products which offer Australians outstanding value, based on a combination of returns, services, costs and features.

  • End of financial year wrap by Richard Nunn, CEO

     As we say farewell to last financial year, I’m pleased to be able to share with you some successes and milestones.

    Statewide Super currently has over 149,000 members, 22,000+ employers and $8.4 billion in funds under management. We wouldn’t be able to accomplish such growth and celebrate the achievements below without your support and trust this year.

    We thank you for choosing Statewide Super and appreciate your loyalty. We’re proud to be your local industry super fund, and look forward to safeguarding your wealth for the future.

    Our investment returns are top performers

    Statewide Super is continuing to outperform the majority of other super funds in Australia* when it comes to investment returns.

    As at 30 June 2018, our 5 year MySuper investment returns were placed second in Australia, returning an average of 10.74% p.a.* For comparative purposes, the median MySuper return was 9.16% for the same time period, illustrating our significant outperformance.

    Furthermore, nine out of ten super investment options have performed in the top quartile over three years to 30 June 2018* – a wonderful result for our members. 

    Statewide Super’s operations reflect the highest industry standard, ensuring we continue to deliver the best possible service, products and investment returns to our members and employers.

    A changing external environment

    Superannuation has been a topical feature in the media over the past few months, specifically with regards to the Royal Commission and the Productivity Commission.

    Statewide Super lodged a voluntary submission to the Royal Commission into the Banking, Superannuation and Financial Services Industry. This encouraged a time of reflection on the significant changes we have made in the past couple of years to place Statewide Super at the highest industry standard, which our members deserve and expect. We were forthright and honest in our submission and will continue to deliver the best possible service and products to our members and employers.

    The Productivity Commission’s draft report on Superannuation: Assessing efficiency and competitiveness (released on 29 May 2018) is also receiving significant media interest and has revealed the not-for-profit super sector (comprised primarily of industry super funds) has significantly and dramatically outperformed the bank-owned super funds. The report outlines a future plan to place the onus of selecting a super fund directly onto the individual. This report is very much in draft format and should be considered as such.

    We encourage all members to view the Productivity Commission and Royal Commission with an open mind and we will continue to keep you informed of any developments that may affect you. 
    Should you have any further questions about the Royal Commission or the Productivity Commission, please don’t hesitate to contact us on 1300 65 18 65.

    Improving member outcomes

    The last financial year has seen the fund introduce a variety of tools, services and value-additions designed to help our members better engage with their super, and with the fund. Some of the new initiatives launched over the past financial year include the following:

    • Statewide Super Online, our secure online member portal and mobile app, has enhanced the online experience that we deliver to our members, allowing them to undertake a range of transactions digitally. This platform also features our new online advice tool providing members with personalised advice about insurance, investments and contribution levels.
    • The Statewide Super Member Rewards program, also accessible via Statewide Super Online, provides exclusive discounts to over 100 Australian brands.
    • For members eager to consolidate their super, our new streamlined online process allows members to find and roll their other super accounts into one – and it only takes a few clicks!
    • To ensure that we provide valuable advice to as many members as possible, we have recently developed a network of Statewide Super Associated Financial Advisers, many of whom are servicing regional areas. Due to location and time constraints, we understand that it can be difficult for our members to always see us at our Adelaide office. As a result, we hope these financial planning partnerships will be a convenient solution for our regional and interstate members – enabling them to still receive critical advice about their Statewide Super account.
    • Statewide Super has been nationally recognised by peak industry bodies as one of the leading super funds in the country, receiving the highest platinum rating with SuperRatings, the highest 5 Apples rating with Chant West and the highest 5 star rating with CANSTAR, Australia’s largest consumer financial comparison group. As one of only seven funds nationally who have received a 5 star rating from CANSTAR, our members can have the confidence that we are part of an elite group of super funds providing exceptional value.**
    • Our inaugural Reconciliation Action Plan (RAP) was launched in mid-2018. A cultural inclusivity strategy, our RAP is aimed at making super more accessible and engaging to Aboriginal and Torres Strait Islander individuals. We are committed to closing the super gap between indigenous and non-indigenous Australians and are proud to drive change – both internally and externally to bring our vision of reconciliation to fruition.
    • Our new website, provides a wealth of information to members, employers and prospective members. It features an extensive article library Your Super Life and our learning platform Tips on Money Management to help you become as financially savvy as possible. We hope you enjoy them!

    We hope you have enjoyed reading about our major achievements over the past year. We hope that this information has enlightened you about the significant value that you receive as a member, and the extensive range of additional tools and services available to you.

    Should you have any questions or feedback about our activities over the past 12 months, please don’t hesitate to contact us on 1300 65 18 65. Thank you for your continued loyalty as a member, and we hope that the next 12 months will be equally as exciting!

    Richard Nunn

  • Our MySuper 5 year returns are second in Australia

    For the first time ever, Statewide Super has recorded five year returns for its MySuper investment option.

    We’re delighted to announce that we have placed second in Australia delivering an average return of 10.74% p.a.* to our members to 30 June 2018. In addition, Statewide Super has come out on top as the best performing superannuation fund headquartered in South Australia.

    More than 87% of Statewide Super member accounts are with our default MySuper investment option – and that means 130,695 of our members have benefited directly from these returns.

    These outstanding returns prove that you don’t have to be on the Eastern seaboard or part of a Big 4 to compete on a national playing field.

    As a profit-for-members fund, our figures solidify our commitment to members to build their wealth for the future. You can rest assured your financial future is our top priority.

    This outperformance comes down to a thoughtful investment strategy and a phenomenal manager and investment selection. This has resulted in performance across almost all assets being strong over the last five years.

    We do expect higher levels of volatility in the future and recommend that our members stay well diversified and refrain from making knee-jerk changes to their super.

    We congratulate our Investment Team on these outstanding results and their commitment to our strong investment performance.

    *SuperRatings Fund Crediting Rate Survey June 2018, comparative rolling returns for the MySuper investment option, 5 years to 30 June 2018. Returns are net of investment fees, the asset based administration fee and tax on investment income. Further administration and other fees apply. See our 'Fees and Costs' booklet for more information.

    For more information visit Investment returns can go up and down and are not guaranteed. All investments have risk, and past performance is not a reliable indicator of future performance For more information on risks associated with investing, consider the 'Risks of Super' and 'How we invest your money' booklets.