Most super funds offer investments options with similar names. You’re likely to see names like ‘Growth’, ‘Stable’, or ‘Balanced’ wherever you look. While the aims of these options may be similar, the make-up, and the performance of these similar-sounding investments—particularly when you add in fees and compound interest—can be worlds apart.
Each year SuperRatings, an independent super comparison business, provides us with a report analysing our performance, and showing how our Fund compares with other super funds.
Each year, we see how much industry super funds compare to retail funds to show how we can benefit members: electricians, powerline workers, and others in the energy industry, like you. You can see it too. Read on.
The graphs below are based on a starting balance of $50,000, and a starting annual salary of $50,000. There are some assumptions used in this comparison, things like 3.5% per year wage growth, and 2.5% inflation, but everything is compared like-for-like with the same assumptions applied to each fund, using up-to-date, publicly available data. (You can read the full list of assumptions here.)
Energy Super vs retail funds
Compare investment returns after 5,10 and 15 years. This graph shows the difference between the Energy Super Balanced investment option and retail and bank-owned funds over 5, 10 and 15 year time periods*.
The differences are plain to see. To save you getting out your calculator, here’s how much more you end up with in your pocket.
Remember, this is based on a starting salary of $50,000, with a $50,000 super balance. If you’re earning and contributing more, the difference is going to be significantly greater.
The benefits for energy workers start now
Energy Super products are for the energy industry, and all profits are returned to members. Which means that if you’re an energy worker, there’s more to look forward to than a comfortable retirement.
We understand the challenges energy workers face, and truly have your best interests at heart. For example, when you’re working in the energy industry, it can be difficult to get affordable, reliable insurance. We’ve used our experience and buying power to negotiate excellent income protection insurance.
*Calculations are estimated on the following assumption: starting balance of $50,000. Comparisons modelled by SuperRatings, compares the Energy Super Balanced Option and retail funds tracked by SuperRatings, with a 5 (133 funds), and 10 (67 funds) year performance history, taking into account historical earnings and fees – excluding contribution, entry, exit and additional adviser fees – of main balanced options. Modelling as at 30 June 2020. See assumptions for more details about modelling calculations and assumptions. Consider Energy Super’s Product Disclosure Statement (PDS) and your personal financial situation, needs or objectives, which are not accounted for in this information, before making an investment decision. ISA Pty Ltd ABN 72 158 563 270 Corporate Authorised Representative No. 426006 of Industry Fund Services Ltd ABN 54 007 016 195 AFSL 232514. Investment performance is not guaranteed. Past performance is not an indicator of future performance. Performance figures are for the five year period up to 30 June 2020, the ten year period up to 30 June 2020 and a fifteen year period up to 30 June 2020. Up to date performance information can be obtained from energysuper.com.au