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Choosing a fund

Your options for where your super is saved

Comparing funds

Not all super funds are the same. Not only are there different types (industry, retail, public sector, or corporate), but each individual fund also has different fee structures, insurance and investment offerings, and different performance records. Some might provide you with greater investment choice while others may offer great low-cost insurance.

For those with the appropriate expertise, another option is a self-managed super fund (SMSF).
More information on SMSFs.

A good place to start in choosing a fund is to think about what is most important to you – what is the main thing you want from you super fund. Is it low fees? Plenty of investment options? Inexpensive insurance? Or maybe it’s top customer service? Once you know what it is you’re looking for, comparing the features of each fund is that much easier.

The main things to consider when comparing funds are:

  • Performance: remember, your super is invested for long periods of time so you need to look at long-term returns. Compare how much super funds have returned on investments over at least the last five or 10 years - this will give you a much better indication of fund performance than simply picking last year’s top performer.
  • Fees: in general, the lower the fees, the less coming off your super balance each month. However, you may find higher fees are worth it if the fund has a record of high performance over time.
  • Investment options: there’s no point joining a fund that doesn’t offer an investment portfolio that matches your needs.
  • Insurance: research the type of cover offered by each fund and how much it will cost you.
  • Service: Does one fund provide handy online services that suit your lifestyle or would you prefer easy access to a customer service centre? Look at what each fund can offer you.

You may also find that being a member of a particular fund offers other advantages such as a discounted rate on your home loan.

Ready to switch funds?

See our Consolidating your super page.

There are a number of websites out there that can help you compare superannuation funds but it’s not a good idea to choose your fund based solely on these reviews. Each site has different methods for comparing and rating funds, and often evaluate investment performance differently. One site might value fee price as the most important, while another might place more emphasis on investment strategy. It’s best to use the ratings as guides and information only. Try: