Chant West’s sixth annual Super Fund Awards will recognise the best super and pension funds in Australia. The focus of this year’s awards will be on member outcomes, taking the lead from APRA’s new outcomes assessment model.
Chant West’s Head of Research Ian Fryer says: “Superannuation exists to provide income to Australians to either replace or add to the age pension. We believe that this is where the industry should be focused. This year’s awards will highlight what funds are doing to help members towards the best retirement outcome.
“Clearly, high quality investments are an important ingredient to achieve good outcomes for members, and this will again be a leading factor in our assessment for several awards.
“But engaging members and nudging them to take action to grow their super can also improve outcomes for members. This is generally best done when funds use all their data to understand what each member can do to improve their situation and then help members to take that action. This year’s awards will look particularly at use of data and digital engagement channels to drive behaviour that improve member outcomes.”
Chant West today announced finalists in 10 of its 12 awards categories: Super Fund of the Year, Pension Fund of the Year, Specialist Fund of the Year, Corporate Solutions Fund of the Year, Advised Product of the Year, Best Fund: Investments, Best Fund: Member Services, Best Fund: Insurance, Best Fund: Longevity Product and Best Fund: Advice Services. Finalists in the other two categories, Best Fund: Innovation and Best Fund: Integrity, will be announced in mid-April.
The finalists for Super Fund of the Year 2018 in alphabetical order are:
The finalists for Pension Fund of the Year 2018 in alphabetical order are:
- AMP MyNorth
- Colonial First State FirstChoice Wholesale Pension
- First State Super
Among other highlights of the finalists this year are:
- BUSSQ, HUB24 and Netwealth have become finalists for the first time
- AMP, Sunsuper and UniSuper (including their products) are finalists in seven categories.
The full list of finalists can be found here.
Mr Fryer says: “We don’t differentiate between large and small funds but compare all funds on the same basis, as that is exactly what members need to do. Our job is to identify the best of the best to reward excellence and help members choose the very best funds.”
The winners of the 2018 Chant West Super Fund Awards will be announced at a black tie gala event at Ivy Ballroom, Sydney, on Wednesday 23 May 2018. We are proud to have the support of major sponsors AIA Australia and Link Group for the awards this year. Michael Pascoe, one of Australia's most respected and experienced finance and economics commentators, will be MC for the event.
More information about the Chant West Super Fund Awards event is available at www.chantwestawards.com.au.
About the Chant West Super Fund Awards
Mr Fryer says: “The aim of the awards is to help the industry lift standards across the board. We shine a light on best practice in key areas and highlight ways that funds can deliver better outcomes to their members.”
The main criteria Chant West uses for rating funds are shown in the table below. As in previous years, the winner of our premier awards, Super Fund of the Year and Pension Fund of the Year, will have to show strength across the board, but especially in the key areas of Investments and Member Services, which carry the highest weighting in the scoring process.