VicSuper has leveraged its strengths and capabilities and emerged as the Best Public Sector Fund of the year at Super Review’s Super Fund of the Year Awards.
Finalists for the category category, which was assessed according to the depth of features and flexibility, consistency of long-term performance and competitiveness of insurance premiums and costs, were First State Super, Local Government Super, QSuper, Super SA and Vision Super.
The judging panel at Heron Partnership determined VicSuper scored consistently high across all assessed aspects with a competitive long-term investment performance history and a broad member advice service.
The panel said VicSuper had a heavy digital focus in terms of their mobile app, personalised website and projection of income in retirement, and a strong focus on continuous improvement to drive member engagement.
Chief executive officer of VicSuper, Michael Dundon, credited their win to their transparency.
“We’ve tried very hard to demystify superannuation and provide clear messages around the benefits of getting advice with your super.”
The superannuation fund also introduced administration and insurance cost reductions, further propelling them to the top spot.
“It’s a great recognition for the hard work of the team, over the last ten years really, to develop the fund and drive member engagement,” said Dundon.