Pension fund of the year 2024-25: What makes a winner?

Since the introduction of compulsory super in 1992, the focus of our superannuation system – from the media, government, regulators and super funds themselves – has been on the accumulation phase.

There is applause and awards for the funds that deliver the best returns for members as if it’s a race past the post; the post being the day you retire and count your winnings. But that’s just the beginning.

While building your nest egg is important, the real challenge begins once you start drawing on it to pay for your living expenses in retirement. You want your money to last the distance and be invested in a way that gives you peace of mind.

That’s why your choice of pension fund is so important; because there are real differences in the strategies, products and services on offer.

What makes a winning pension fund?

The theme of Chant West’s 2024 super fund awards was ‘retirement takes centre stage’, in recognition of the need for more awareness and action on the retirement phase of super.

Chant West general manager Ian Fryer said, “The primary objective of superannuation is to provide Australians with an income in retirement, however, as an industry, we’ve typically been more focused on the accumulation phase.

“With the growing wave of retirees, regulator focus on retirement and the Retirement Income Covenant obligations in force, retirement issues have recently been placed under the spotlight – and rightly so.

“This year’s awards showcase those funds that are focused on preparing members for retirement and helping them get the most out of their retirement savings.”

SuperRatings executive director Kirby Rappell said SuperRatings has changed the name of this award category from Pension Fund of the Year to Retirement Offering in recognition of the fact that the best pension products offer more than retirement income. “They also need to include tools, advice, help and guidance for members,” he says.

Pension funds of the year