The State's biggest superannuation fund, GESB, was one of the nation's best performers last financial year.
Figures compiled by SuperRatings show GESB's balanced growth plan delivered a 13.2 per cent return for 2013-14.
Over the past five years, its balanced growth plan has delivered 10.2 per cent per annum, ranking it third in the country.
Despite the stellar performance, it was well short of the best-performed fund, Telstra Super. Its balanced fund put on 15.8 per cent through the year.
Telstra Super was a long way ahead of the second-best ranked fund, Intrust Super, with its balanced fund delivering 14 per cent.
Across all balanced funds, the median balanced average return for 2013-14 was 12.7 per cent.
It was the seventh-highest annual return since the introduction of compulsory super in 1992 and follows on from the previous year's near record of 14.7 per cent.
Over the past two years, the median balanced fund is up 29 per cent. Even bottomed-ranked funds have delivered much better than inflation. The lowest ranked balanced fund delivered just 8.4 per cent through 2013-14.
But for those in cash-only or diversified fixed-interest funds, low interest rates continue to bite. The median return for cash funds was 2.4 per cent while in diversified fixed interest the median was 5.5 per cent.
SuperRatings chairman Jeff Bresnahan said Australian super funds had returned 7.2 per cent per annum since 1992. He said last week's interim report of the Financial System Inquiry had highlighted the need for funds to focus on retirement outcomes.
"While superannuation funds should be commended for this great result, there remains work to be done to ensure members have the best possible chance to achieve their retirement goals," Mr Bresnahan said.
"There is increasing recognition across the industry that some members have been faced with poorer outcomes due to the timing of their retirement or poorly performing products."
'There remains work to be done to ensure members have the best possible chance to achieve their retirement goals.'" SuperRatings chairman *Jeff Bresnahan *