Industry fund for Victorian local government and community sector workers.
Vision Super is an industry superannuation fund regulated by APRA. Established in 1947, the fund is headquartered in VIC and operates under RSE Licence L0000239. The trustee responsible for managing the fund is Vision Super Pty Ltd.
| Detail | Value |
|---|---|
| ABN | 50 082 924 561 |
| RSE Licence | L0000239 |
| Trustee | Vision Super Pty Ltd |
| Legal Name | Vision Super Pty Ltd |
| Established | 1947 |
| Headquarters | Level 5, 80 Collins Street, Melbourne VIC 3000 |
| Fund Type | Industry |
| USI | VIS0100AU |
| Member Services Phone | 1300 300 820 |
| Website | https://www.visionsuper.com.au |
Vision Super manages $14 billion in assets under management, serving around 90 members across approximately 200 employers. This makes it a smaller fund in the Australian superannuation landscape.
Vision Super is a smaller, specialist fund. While this means less scale advantage when negotiating investment fees, it often translates to more personalised service and a stronger connection to its specific member community. Members should weigh the benefits of industry-specific focus against the potential cost savings available at larger funds.
Vision Super's MySuper option charges a total fee of $428 per year on a $50,000 balance (0.70% of a $50,000 balance). On a $100,000 balance, annual fees come to $778. The fee structure includes a fixed administration component plus percentage-based investment and indirect cost charges.
| Fee Component | Amount |
|---|---|
| Administration Fee (Flat) | $78 p.a. |
| Administration Fee (%) | 0.16% |
| Investment Fee (MySuper) | 0.48% |
| Indirect Cost Ratio | 0.06% |
| Buy/Sell Spread | 0.10% |
| Performance Fee | No |
The table below shows how Vision Super's total annual fees scale with your account balance. Funds with a higher flat fee component tend to be proportionally more expensive at lower balances.
| Balance | $10,000 | $25,000 | $50,000 | $100,000 | $250,000 | $500,000 |
|---|---|---|---|---|---|---|
| Annual Fee ($) | $148 | $253 | $428 | $778 | $1,828 | $3,578 |
| Fee as % of Balance | 1.48% | 1.01% | 0.86% | 0.78% | 0.73% | 0.72% |
At 7.2% annualised over 10 years, Vision Super's Growth option has underperformed relative to some of its peers. While past performance is not indicative of future returns, prospective members should consider whether the fund's other features compensate for this below-average return.
| Period | Return (p.a.) |
|---|---|
| 1 Year | +10.5% |
| 3 Years | +7.2% |
| 5 Years | +7.5% |
| 7 Years | +7.5% |
| 10 Years | +7.2% |
The following table shows the annual returns for Vision Super's Growth option for each financial year. This allows you to see how the fund performed during both strong market years and downturns, including the COVID-19 sell-off in FY2020 and the inflation-driven correction in FY2022.
| Year | FY2015 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Growth | +9.2% | +3.2% | +11.2% | +9.2% | +7.5% | -0.5% | +18.0% | -3.0% | +9.2% | +8.2% |
Vision Super offers 7 investment options spanning pre-mixed diversified portfolios and single-sector choices. Each option carries a different risk profile and fee structure. The asset allocation doughnut charts below show the mix of growth and defensive assets within each option.
| Type | Risk Level | Total Fee | 1yr | 5yr | 10yr |
|---|---|---|---|---|---|
| Pre-mixed | 5 — Medium to High | 0.70% | +10.5% | +7.5% | +7.2% |
Vision Super provides default insurance cover through AIA Australia. Most members are automatically enrolled in death and TPD cover when they join, while income protection is typically opt-in. Insurance premiums are deducted directly from your super balance, which means you do not pay out of pocket but your retirement savings are reduced over time.
| Cover Type | Details |
|---|---|
| Insurer | AIA Australia |
| Death Cover | Yes — opt-out |
| TPD Cover | Yes — opt-out |
| Income Protection | Yes — opt-in |
APRA (the Australian Prudential Regulation Authority) publishes an annual MySuper Product Heatmap that assesses each fund across fees, investment returns, and sustainability. The heatmap uses a traffic-light system to flag products that may be underperforming relative to peers. Here is where Vision Super's MySuper option sits on the latest heatmap:
A "Below median" fee rating means the fund's fees are lower than the typical MySuper product — which is positive for members. An "Above median" return rating indicates the fund has delivered stronger returns than the median fund. A "Performing" sustainability rating means APRA has not identified any concerns about the product's long-term viability.
Vision Super is led by CEO Stephen Rowe. The board comprises 10 directors, with equal representation of 4 member-elected and 4 employer-appointed directors, plus 2 independent directors. As an APRA-regulated fund, Vision Super must meet strict governance standards including director fitness and propriety requirements, risk management frameworks, and regular independent audits.
| Role | Details |
|---|---|
| CEO | Stephen Rowe |
| Member-Elected Directors | 4 |
| Employer-Appointed Directors | 4 |
| Independent Directors | 2 |
Vision Super maintains a formal ESG policy.
| ESG Criteria | Status |
|---|---|
| ESG Policy | Yes |
| UN PRI Signatory | N/A |
| ACSI Member | N/A |
| Fossil Fuel Exclusion | N/A |
| Tobacco Exclusion | N/A |
| Weapons Exclusion | N/A |
The app currently holds a 4.0 rating on iOS and 3.8 on Android. There may be room for improvement in the digital member experience.
| Service | Details |
|---|---|
| iOS App Rating | 4.0/5.0 |
| Android App Rating | 3.8/5.0 |
During the Global Financial Crisis in 2008, Vision Super lost 13.5%, roughly in line with the industry average. The GFC remains the most severe market downturn in recent memory and tested every super fund's risk management framework.
In the COVID-19 year (FY2020), Vision Super limited losses to just -0.5%, recovering strongly through the second half of the year.
How a fund performs during market downturns can be as revealing as its long-term returns. Funds that limit losses during crashes tend to have more conservative asset allocations or better risk management, though this can sometimes come at the cost of lower returns during boom periods.
With 3.9 complaints per 10,000 members, Vision Super's complaint rate is around the industry average. This level is typical for a fund of its size and does not indicate any systemic service issues.
AFCA is the independent complaints body for financial services in Australia. Members can escalate complaints to AFCA if they are unable to resolve a dispute directly with their super fund. The complaints-per-10,000-members ratio is the most meaningful comparison metric as it adjusts for fund size.
See how Vision Super stacks up against every other fund in our database with a detailed side-by-side comparison.