2022 AAA Super Products announced

Published on
March 17, 2022
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2022 AAA Quality Superannuation Ratings

193 superannuation products received Rainmaker Information's AAA Quality Rating in 2022.

The rating reviews Australian superannuation products, to see if they have passed a range of comprehensive benchmarks and best practice measures across their investment performance, fees, insurance, operations and extra services.

Of the 700 products that Rainmaker assessed, around 28% were rated AAA. 198 products were rated AAA in 2021.

"Superannuation returns had one of the best years on record in the 2020/21 financial year, returning an average of almost 19%. And even despite the recent market corrections due to world events, average returns are still in the double digits," said Alex Dunnin, executive director of research and compliance at Rainmaker Information.

"There has been a great deal more scrutiny placed upon super funds in the last few years, and it's positive to see so many funds are consistently able to reach these AAA benchmarks and provide a quality service to their members."

Of the 200 products that received a AAA Rating, 184 were renewed from 2021, five were newly rated for the first time, and four were re-instated after previously being recognised with a AAA Rating.

There are 173 super funds in Australia, according to Rainmaker Information's latest Superannuation Benchmarking Report.

66 of these funds had at least one product with a AAA Quality Rating.

79 of the products are workplace products, 49 are personal products and 65 are retirement products.

The assessment criteria framework as part of the AAA Quality Rating process incorporates:

  • Investments - including the investment menu, performance and risk-adjusted performance over at least five years as well as investment processes, including mandate selections, use of asset consultants and multi-manager processes.
  • Insurance - including the types of insurances offered, premium costs and default coverage and variations by age, occupation, gender and industry.
  • Fees - including details of administration fees, investment fees, advice fees and indirect costs.
  • Company and operations - including the structure, trustee board and senior management, fund compliance, operations outsourced, size of the fund, complaints history and resolution, administration and investment flexibility, communications with members and more.
  • Extra services - including financial planning and advice services, loyalty programs and other value adds for members.

See the full list of AAA Quality Ratings below:

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