Important notice about Maritime Super's MySuper performance assessment result
With effect from 1 July this year, the Australian government initiated annual performance assessments of MySuper products across the superannuation industry, with a view to identify products that underperformed based on a specific methodology. The performance test is undertaken by the Australian Prudential Regulation Authority (APRA) and is designed to assess products against benchmarks and give greater transparency to members.
For the 2020-21 financial year, Maritime Super’s MySuper investment option, has failed the annual performance assessment, as its performance measure did not equal or exceed the specified benchmark.
The performance assessment takes into account the performance of Maritime Super's MySuper investment option over the past seven years.
For the latest information on investment performance click here
We recognise the importance of this initiative by the Government, and without detracting from this message, we would point out that the performance test is backward looking and looks primarily at the past performance of our MySuper investment option, prior to our investment in the Hostplus PST.
Maritime Super has, since 30 April 2021, invested substantially all of its assets into the Hostplus Pooled Superannuation Trust (PST) – recognised as one of the country’s most consistently top performing super funds over longer-term periods up to 20 years*, as rated by Australia’s leading superannuation researchers.
As a member, if you would like more information or wish to confirm which investment option you are invested in please call Member Services on 1800 757 607.
*SuperRatings Accumulation Fund Crediting Rate Survey – SR50 Balanced (60-76) Index, 30 June 2021.