A panel of industry experts have named their choices for the top 10 standout super funds for Australians.
It comes as the Productivity Commission proposes a list of its kind be made available to workers as part of its review into superannuation.
And choosing the right super fund can net employees an extra $375,000 by the time they retire, the Herald Sun reported.
A panel of industry experts have named their 10 top super funds in Australia, which benefit Australians over the long-term (stock image)
Choosing the right super fund can net Australians an extra $3750,000 in retirement, it has been reported (stock image)
The Productivity Commission is looking at a ‘best in show’ model to guide workers when selecting their preferred super provider.
‘At the heart of our preferred model is a single shortlist of ‘best in show’ products for all members,’ the Commission’s draft report, released last month, said.
‘Members should be empowered to choose their own product, and the shortlist should be designed to make this safe and easy to do.’
The list of the top 10 super funds as chosen by industry experts include Australian Super, First State Super, Hesta, Rest and CareSuper.
The Productivity Commission is proposing a ‘best in show’ list of super funds to be used as a guide by employees (stock image)
Sunsuper, CBus, Hostplus, QSuper and Equip round out the list.
The super funds were chosen for a variety of individual factors, such as strong returns over a long-term period, solid investment performance and member services.
The panel of experts included Nerida Cole, managing director of Dixon Advisory, Kirby Rappell, CEO of Super Ratings, Ian Fryer, head of research at Chant West, and Anthony Serhan, research strategy head at Morningstar.
But Mr Rappell said: ‘There are some real challenges to making the proposal workable in practice’.