Super comparison websites

Online super ratings

Super comparison websites can be useful to help you compare super funds, but don't take their ratings as gospel. Here are some tips on what you should be aware of when using these websites.

What super comparison websites offer

Super comparison websites rate different super funds, but you shouldn't choose your super fund on the website rating alone. Choose a fund that's right for you using the tips on our choosing a super fund webpage.

Here are some examples of super comparison websites:

MoneySmart has not independently verified or approved the data or ratings published by these websites. These websites are responsible for their data and publications.

All these websites have some information for free, but some also offer more detailed information for a fee. 

How they rate funds

Each super comparison website has different views on the best way to rate super funds. For example, some place the highest importance on fees. Others may prioritise investment performance and strategies. Look at the website's explanation of their scoring system.

What a top rating really means

On some super comparison websites, the majority of super funds get a top rating. Other websites reserve their top rating for what they consider the best 10% of super funds.

How they measure investment performance

One company, Chant West, calculates investment returns differently from super funds and other comparison websites.

Everyone deducts investment fees and tax from returns. However, Chant West shows investment returns before the deduction of percentage-based administration fees and any ongoing adviser commissions. Other comparison websites and super funds typically report investment returns after these costs.

Chant West's approach means that its reported performance figures can be up to 1.5% pa higher than what the super fund would report.

No comparison service or fund deducts fixed dollar administration or member fees (e.g. $50 per year) from reported investment returns. This is because their impact depends on the balance in your super account. A $50 per year member fee is 0.5% of a $10,000 super account, but just 0.05% of a $100,000 account.

Don't assume a top-rated fund will get above-average investment returns.

The golden rule is to do your homework when choosing a super fund and don't rely solely on super comparison websites.

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Last updated: 16 Dec 2015