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Rainmaker AAA 2024

Prime Super receives six AAA quality ratings in 2024

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Pushlished date icon Published on 2 Apr 2024

This year, as part of Rainmaker Information’s annual assessment, the quality ratings body reviewed over four-hundred products. Only 164 met each of the benchmarks required to qualify for a AAA Quality Rating.

Prime Super again qualified for six AAA Quality Ratings this year.

This year, fewer super funds qualified overall, compared to the 56 funds acknowledged with a quality rating in 2023. In 2024, only 48 out of the 130 super funds that were assessed received a AAA Quality Rating.

The Rainmaker Information AAA Quality Rating recognises quality and excellence in an Australian super fund product and is only awarded when a range of qualifying benchmarks are reached or surpassed:

  • Investments—including the investment menu, investment processes, investment performance and risk-adjusted performance over at least five years.
  • Fees—including administration fees, investment fees and indirect costs.
  • Insurance—including the types of insurance options offered, the costs, the default coverage and variations by age, occupation, gender and industry.
  • Company and operations—including the operational structure, trustee board and senior management, fund compliance, the size of the fund, complaints history and resolution, administration and investment flexibility, and communications with members as just some examples.
  • Extra services—including advice services and other valuable services available to members.

“This recognition again affirms our dedication to upholding the highest standards across all aspects of our operations, from investments to member communications. It also emphasises our commitment to placing our members at the heart of everything we do,” said Remo Memmolo, acting Chief Executive Officer of Prime Super.

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If you’d like to find out more about the Prime Super products awarded a AAA Quality Rating, book a chat with one of our super specialists today.