2024 AAA Super Products announced

Published on
March 11, 2024
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2024 Rainmaker Information AAA Quality Ratings for superannuation products

164 superannuation products have received a AAA Quality Rating from Rainmaker Information.

The annual assessment reviews all superannuation products across their performance, fees, insurance, operations and extra benefits.

164 products passed all the benchmarks to receive the rating, an increase of eight products from the 2023 assessment, from 449 open products being available in the market.

48 superannuation funds have at least one product with a AAA Rating, and there are currently 130 super funds according to Rainmaker Information’s latest Superannuation Benchmarking Report.

The number of funds with at least one AAA rated product dropped from 56 to 48 since the 2023 ratings.

The decrease is largely due to the continued impact of consolidation in the superannuation industry, which has seen the number of funds decrease from 149 to in 2023.

Of the164 products rated AAA, 72 are workplace products (44%), 42 are personal products (26%) and 50 are retirement products (30%).

Retail funds make up 29% of AAA rated products, with not-for-profits making up the remaining 71%.

Of the not-for-profit products, 85 are from industry funds, 9 are from corporate funds and 22 are from public sector/government funds.

The newly rated AAA products in 2024 are:

  • Australian Retirement Trust - QSuper Lifetime Pension
  • Australian Retirement Trust - Super Savings - Accumulation Account
  • Australian Retirement Trust - Super Savings Corporate - AccumulationAccount
  • Aware Super - Ambulance
  • Aware Super - Police Blue Ribbon Super
  • Equipsuper - Defined Benefit
  • Plum Superannuation Fund Employer Division

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.

The AAA Quality Rated products for 2024 are:
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