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What the Researchers Say:

A 'best value for money' superannuation fund. Well balanced across all key assessment criteria in a robust, secure and proven risk framework. The fund provides features that should assist most individuals to meet their retirement savings goals.

You should contact your financial adviser or this fund before making an investment decision.

  • Platinum
  • 7 Year Platinum Performance
Awards
Fund data valid as of July 31, 2016

Typical Fees

Balance This Fund Industry Average Difference
50k $290 $705 -$415
250k $1,450 $3,036 -$1,586
500k $2,900 $5,756 -$2,856

Investment Allocation

Intl shares 25.0%
Aus shares 21.0%
Property 7.0%
Alternative 20.0%
Fixed interest 22.0%
Cash 5.0%

Fees & Charges

Membership Fee $0
Asset Admin Fee 0.20%
Investment Fee 0.38%
Switching Fee $0
Exit Fee $51
Account Size Discount No
Employer Size Discount N/A

Fund Features

Financial Planning Service
Health Insurance
Home Loans
Credit Cards
Binding Nominations
Non-lapsing Binding Nominations
Insurance Life Event Increases
Anti-detriment Payments
Long Term Income Protection

About this Fund

Membership 281,356
Total Assets $22,149,346,000
Year Started 2003
Target Market
Offered to Public?
Fund Type Government-Allocated Pension

Fund Highlights - provided by GESB Retirement Income Allocated Pension

4 Readymade investment options plus 'mix your own' capability across 5 asset classes.
Low fees with no entry, exit, switching or withdrawal fees.
3 payment frequencies.
Commutations.
Banking services and travel insurance available to members at discounted rates.
Annual retirement rewards seminars, including Federal budget updates.
Free Retirement Options Service available to members.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced 2.76%
2.93%
8.93%
13.01%
15.07%
3.28%
Fund
Benchmark
Diversified Fixed Interest 0.70%
0.85%
5.91%
5.02%
3.34%
4.29%
5.47%
6.40%
3.81%
4.74%
11.70%
9.58%
Fund
Benchmark
Growth 3.22%
3.46%
2.76%
2.80%
10.49%
11.50%
14.90%
15.91%
17.74%
19.45%
1.32%
-1.21%
Fund
Benchmark
Australian Shares 6.22%
6.22%
2.61%
2.22%
5.94%
6.75%
18.24%
18.31%
23.74%
23.30%
-7.32%
-6.67%
Fund
Benchmark
Overseas Shares 3.27%
3.02%
-3.09%
-2.72%
17.39%
20.36%
20.17%
19.88%
27.00%
29.76%
-1.39%
-3.07%
Fund
Benchmark
Capital Stable 1.54%
1.54%
3.50%
3.64%
5.99%
6.35%
8.20%
8.17%
8.99%
9.14%
5.40%
4.79%
Fund
Benchmark
Property 4.78%
3.12%
11.41%
13.83%
9.54%
10.92%
14.95%
10.68%
17.88%
12.91%
5.62%
7.92%
Fund
Benchmark
Cash 0.19%
0.18%
2.32%
2.25%
2.62%
2.61%
2.86%
2.78%
3.48%
3.48%
4.69%
4.76%
Fund
Benchmark
  • Legend:
  • Outperformed average
  • Underperformed average
  • Negative returns

Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2015, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.

Benchmark investment information - how performance is measured

To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.

Option Type Percentage of Growth Assets
min-max %
High Growth 91-100%
Growth 77-90%
Balanced 60-76%
Conservative Balanced 41-59%
Capital Stable 20-40%
Secure 0-19%

What the researchers say

A not-for-profit organisation, GESB is the largest Western Australian-based super fund for current and former employees of the WA Public Sector and their partners. GESB's Retirement Income Allocated Pension provides a competitive income stream solution, securing a Platinum rating for 2016.

Strong longer term investment returns for Balanced Plan and the well-priced fee structure across all account balances assessed ensure strong after-fee outcomes for members. No transaction costs apply, providing members with the flexibility to make unlimited investment switches and withdrawals.

Pension flexibility lags in comparison to industry standards. While three payment frequencies are offered, the options available may not cater to those new retirees seeking fortnightly payments in line with previous salary payments. Death benefit options are limited, though reversionary pension is available.

The fund's website contains a wide selection of member educational material, demonstrating their commitment in this area.