Positive returns continue to strengthen your investment

No matter where you are on your retirement journey – whether you are just starting your career, through to those who have retired - this is the time of year most members check their super account to see how their plan has performed.

How did GESB perform?

It has been a great year for our members, and we achieved strong returns for most plans over the 12 months to June 2023.

The My GESB Super option earned 9.13% after fees and taxes, while the My West State Super option returned 8.39% after fees.

Our plans have performed above average¹, and our fees have remained below industry median² – which means more of your money goes into investing for your future.

‘I encourage all our members to look at how their plan has performed not just over the past year, but over a number of years. With superannuation, it’s important to keep your focus on the long-term.’

‘The easiest way to do this is by reading our latest investment update.’

Why is it important to have low fees and charges?

It’s not just your investment plan that has an impact on your super and how much money you will have when you retire.

Small differences in fees and costs can have a substantial effect on your long-term return, which is why we pride ourselves on having fees that are below the industry median¹, as it helps our members save more for their retirement.

Keep a long-term focus

You build your super over a lifetime, not over just one year, so you need to focus on long-term performance.

Market and economic conditions can change rapidly, and your investment will be subject to some short-term ups and downs. The very nature of investing means there is always the potential for your investment to fluctuate.

Over the long-term, market fluctuations level out, and the underlying value of your investment is realised.

Take control of your investment

While you can’t control market fluctuations, you can control what you invest in. Try our Selecting your investment plan tool and spend some time thinking about what you want to achieve, how long you intend to keep your super invested, and what level of risk you are comfortable with.

This will help make sure you have the right investment plan for  wherever you are on your retirement journey. For example, if you are nearing retirement, your appropriate level of risk and the investment plan suitable for you is likely to be different from someone just starting their career.

Remember, you don’t need to choose the best performing investment plan. It’s more important to select the plan that best suits your investment goals and how comfortable you are with risk.

1 As measured by the SuperRatings Fund Crediting Rate Survey - SR50 Balanced (60-76) Index - June 2023 median return

2 SuperRatings Smart database as at 31 December 2022. Based on an average balance of $50,000, GESB Super and West State Super's fees are below the industry median.