How to compare super fundsLook for the following features when you're comparing super funds in the comparison table below.
- Low fees. The lower the fees the better. A general rule of thumb is to make sure the fees are less than 1% of the value of your super balance per year.
- Good long-term performance. Super is a long-term investment, so you want a fund that has consistent, strong performance over the last 5-10 years rather than a one-off good year.
- Pick an investment strategy that suits your age. Generally, you can invest in more high-risk growth assets (like shares) while you're young because you have plenty of time to ride out any short-term market falls.
- A strategy that suits your investment preference. Some funds offer life stage investment options, meaning they'll adjust your investments for you as you get older so you're not taking on too much risk. Others will offer pre-mixed options based on certain risk levels regardless of age. If you're passionate about investing ethically and want to exclude certain industries such as fossil fuels or tobacco, choose a fund that offers a sustainable or ethical investment option.
- Adequate insurance cover. Most funds will offer a default level of cover for death and TPD insurance automatically when you join. If you need more cover, for example income protection, check the fund offers this before joining.
Super Fund Comparison: Find the Right Fit for Your Retirement
Super fund comparison: We found the best performing super funds
We regularly update our super fund comparison table with the latest fees and performance data of all funds. Here are a few highlights of the best super funds we've pulled out:
The top-performing growth super fund for FY2021-22 was Hostplus Balanced with a +1.57% return (most growth funds delivered a negative return due to share market falls).
Top high growth fund.
The top-performing diversified High Growth fund over the last decade is UniSuper Sustainable High Growth with +11.7% p.a.
The above findings are based on performance data to December 2022. Super data in our table is provided by Chant West and covers most funds in the market, however some funds might be missing from our data set.
Why should you compare super funds?
Millions of us aren't actively engaged with our super, despite it likely being our most-valuable asset in retirement.
According to Finder data, 58% of Australians are with the super fund that their employer chose for them and almost half (48%) of us have stuck with the same super fund for our whole life so far.
If this is you, you could be stuck in a poor-performing fund with high fees and an investment strategy that doesn't suit your age or stage of life. This could cost you hundreds of thousands of dollars by the time you retire.
Steps to switch funds
1. Choose a new fund. The comparison table above can help you choose a new super fund.
2. Join the new fund. Complete the online application form available on the fund's website.
3. Move your super into your new fund.Just enter the details of your previous fund when you submit the application form and the new fund will arrange for your balance to be transferred over - you don't need to do this yourself.
4. Let your employer know. Let your employer know right away so they can pay your next super guarantee payment to the correct fund.
If you need a bit more help, see our guide on how to change super funds for a detailed process.
Frequently asked questions for super funds
Why you can trust Finder's super fund experts
Our comparison tables are completely free to use. We link you directly to the super fund's secure application page. Plus, you can access all of our research in our media room.
We've researched and rated hundreds of super funds as part of our Finder Awards. We've published 50+ guides and our in-house experts regularly appear on Sunrise, 7News and SBS News.
Unlike other comparison sites, we're not owned by a super fund company. That means our opinions are our own and you can compare nearly every super fund in Australia on Finder.
Since 2017, we've helped over 200,000 people find a super fund by comprehensively comparing funds. We'll never ask for your personal information. We're here to help you make a decision.
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Read more on this topic
Use our free superannuation calculator to see your projected retirement balance, and how this could change by switching funds.
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Spouse super contributions allow you to grow your partner’s super balance and also save money on tax. Here’s how spouse super contributions work.
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Here’s a current list of the worst-performing super funds in Australia and steps for how to switch to a better fund.
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