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In superannuation, net benefit is the investment earnings on your super, less the administration and investment fees and costs. In other words, it is the net investment earnings on your super balance. So when you compare super funds, it is important to weigh up the net benefit that a super fund can offer you through higher investment earnings and lower fees and costs.

Sunsuper had a higher net benefit outcome because our investment earnings were higher and our administration and investment fees and costs were lower over the period, when invested in the Sunsuper Balanced Pool in the Lifecycle Investment Strategy.

• The model uses the main balanced investment option (being the balanced investment option with the highest level of growth assets for options within the 60% - 76% growth asset range) offered by each superannuation fund in the sample set.

• The model uses investment returns and administration and investment fees and costs data that is submitted by superannuation funds to SuperRatings and also made publicly available by each superannuation fund through formal fund disclosures as at 31 December each year.

• Using the starting account balance of $50,000 and an annual salary of $50,000, the employer Superannuation Guarantee (SG) contributions, the investment earnings and fees and costs after taxes are calculated using the 31 December data for each year to derive the closing account balance at the end of each successive year.

• The model assumes the legislated employer Superannuation Guarantee (SG) contributions and excludes additional contributions and withdrawals over the 15 year comparison period.

• The average net benefit of industry (not for profit) and retail superannuation funds is calculated by taking an average of the net benefit outcomes for all industry and retail superannuation fund products actively surveyed by SuperRatings, with a 15 year investment performance history.

• The 15 year comparison model will be updated annually with 31 December data for each successive year (available in approximately February each year).

• In the 15 year net benefit comparison model, the number of funds that are used are 82 for retail funds and 83 for industry funds.

Salary Increase
3.5% per annum incorporating inflation as indicated by the CPI (Consumer Price Index) plus the cost of rising living standards.

Investment Returns
Actual reported investment returns for each superannuation fund over each yearly period are used for the Net Benefit modelling.

When are investment returns credited to members’ accounts?
Annually at 31 December of each year.

Superannuation Guarantee contribution
The Superannuation Guarantee (SG) percentage rate used for each year's employer contributions is in accordance with the Superannuation Guarantee (Administration) Act 1992. The SG employer contribution amount for each year is based on the SG percentage rate applied to initial $50,000 salary which is increased annually at the salary increase assumption of 3.5%. The model assumes no salary sacrifice or other voluntary superannuation contributions.

Contributions tax
SG employer contributions are subject to a 15% tax rate.

When are SG employer contributions assumed to be made?
Quarterly in arrears (i.e. the first contribution is made 3 months after the start of the 15 year comparison period).

When are fees and costs assumed to be deducted?
Annually at 31 December of each year.

Tax rebate
A tax rebate of 15% is assumed on fees deducted from members’ accounts.

Fees
All administration and investment fees and costs data are taken from each superannuation fund’s product disclosure statement or other formal disclosures at the end of each year and incorporated in the calculation. Contribution fees, entry fees, exit fees, advice fees or any other fees and costs charged are not included in this model.

Insurance
No deductions are made for insurance premiums