Telstra Super has been named Fund of the Year by ratings agency, SuperRatings.
The SuperRatings Fund of the Year Award recognises the fund that has the best value end-to-end retirement solution, including both accumulation and pension products.
“In a constantly changing superannuation environment, Telstra Super has had an amazing year, performing consistently well across all of SuperRatings’ key assessment criteria,” SuperRatings chief executive Adam Gee said.
“This includes a long history of outstanding investment returns, coupled with competitive fees.”
The fund’s balanced strategy achieved a return of 15.81 per cent over the 12 months to 30 June 2014, while over a five-year time frame the option returned 10.69 per cent.
It also took out the category of Super of the Year, recognising the best value for money accumulation product.
The results put Telstra among an elite group of funds that have achieved consistently high rating.
They also send a clear message to those who claim that union representation on superannuation fund boards is not in the interests of fund members. Both the CWU and the CPSU have seats on the Telstra Super board, as does the union movement peak body, the ACTU.
That participation allows the unions to protect and advance the interests of their members in this key area of their financial affairs.