Australian retail super fund ANZ Smart Choice took the top spot, with 88% of the users that we surveyed saying they'd recommend the fund to a friend. Its customer satisfaction rating was 4.28 out of 5. Find more about Finder Super Funds Satisfaction Awards 2022.
You'll automatically be invested in the ANZ Smart Choice Super lifestage option, which invests according to your age. You can switch to any of the additional investment options at any time after joining the fund.
The information in this table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.
*Past performance data and fee data is for the period ending August 2024
Based on ANZ Smart Choice super fund scores in Finder's 2024 Customer Satisfaction Awards.
These are just some of the key features offered by ANZ smart Choice Super:
ANZ Smart Choice Super and Pension is designed to be a "fund for life", allowing you to switch between three different accounts depending on your stage of life:
There are two ways you can invest depending on how hands-on you want to be managing your super.
This is the default investment option if you prefer to leave your investment choices up to the fund managers. They select a mix of investments based on your age from a variety of asset classes, and adjust them as you grow older. For instance, if you join the fund early on in your working life, your super will be invested mainly in growth assets such as shares, which are designed to provide potentially higher returns but with greater risk. As you approach retirement, the mix will automatically be adjusted, with a higher allocation towards less risky investments such as fixed interest, bonds and cash. The following table highlights each Lifestage investment option, its risk level, and asset allocation.
| Lifestage option | Risk level | Asset allocation (target range) |
|---|---|---|
| ANZ Smart Choice Super 1940s | Medium |
|
| ANZ Smart Choice Super 1950s | Medium to high |
|
| ANZ Smart Choice Super 1960s | High |
|
| ANZ Smart Choice Super 1970s | High |
|
| ANZ Smart Choice Super 1980s | High |
|
| ANZ Smart Choice Super 1990s | High |
|
| ANZ Smart Choice Super 2000s | High |
|
If you'd like a bit more control over the risk level of your super, you can select one of the following pre-mixed funds instead of the lifestage option above. These don't change depending on your age.
| Pre-mixed investment option | Risk level | Asset allocation |
|---|---|---|
| ANZ Smart Choice Conservative This option has the lowest allocation towards growth assets, and is therefore the lowest risk. It's designed for members who have a shorter investment timeframe, such as those getting close to (or during) retirement. | Medium |
|
| ANZ Smart Choice Moderate This option has a fairly even split between growth and defensive assets. It's designed to give some level of stable growth over the short to medium term, with less volatility and risk compared to the Growth option. | Medium to High |
|
| ANZ Smart Choice Growth This option has a higher allocation towards growth assets including shares and property, and aims for higher returns over the long term. | High |
|
If you feel like you're a little more experienced as an investor and would like to take a more "hands-on" approach, you can build your own investment portfolio by selecting your own asset class mix. You can choose between eight options, as detailed below. You can invest your super into one or a combination of the following asset classes.
If you sign up for the ANZ Smart Choice Super and Pension fund you will automatically receive death insurance, including terminal illness. This is subject to age eligibility, which is over 15 and under 65 years of age. Monthly fees will depend on your age, gender and whether or not you're a smoker. Death cover ranges from $100,000 to $300,000. To apply you must be an Australian permanent resident, and be permanently living in Australia. You will also receive the option of adding Total and Permanent Disability (TPD) cover, which is calculated based on your age. In addition you can include income protection insurance. Applications for income protection and TPD insurance are assessed on an individual basis by the insurer and are subject to approval. If you'd like to increase your insurance cover, the maximum levels of you can apply for with ANZ are:
If you do not require any insurance included with your super, you can opt out via ANZ Internet Banking or by calling its customer services, the day after your account is opened.
You can apply online for this super fund in less than five minutes by clicking the "Go to Site" button on this page. Make sure you have the following information to hand:
You can access your account through ANZ Internet Banking or Mobile Banking. ANZ Wealth will inform you if it finds any other super in your name and will help you consolidate your accounts. Once you have logged in, you will be able to view your super balance, change your investment option, monitor you super performance, adjust your insurance, manage your beneficiary nomination and keep track of your contributions.
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Looking at the “CONS” for ANZ Smart Choice Super what does –
1. No authorised My Super Product available?
2. No ethical investment option available?
Hi Margaret,
Thanks for getting in touch with finder. I hope all is well with you. :)
The ANZ Smart Choice Super does not come with a MySuper product, which is a low-cost and simple super solutions for employers to choose as their default funds. This is an initiative by the government.
Regarding your second question, ethical investment option is where the manager of your investment would incorporate environmental and social factors when selecting investments, in addition to the objective of achieving a competitive financial return. So, in case there are things that you don’t want your money to be invested in, an ethical investment option could be your choice. However, ANZ Smart Choice Super does not have this feature.
I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.
Have a wonderful day!
Cheers,
Joshua