Compare super funds for a super retirement

What do super funds do?

Super funds take the superannuation money that you're paid by your employer (or your own contributions) and invest it on your behalf into things like shares. The money is your money, it's just managed by the super fund until you're old enough to legally access it (usually 65). Think of your superannuation as the bank account for future you. Just like there are lots of different banks to choose from, there are lots of super funds too. You can choose which super fund you'd like to look after your superannuation money, and switch super funds at any time.

How to compare super funds

If you're looking for the best super fund, here are 6 key features to look for.

Low fees

The lower the fees the better, as higher superannuation fees will eat into your investment returns. A general rule of thumb is to make sure the fees are less than 1% of the value of your super balance per year (so for a $50,000 balance, aim for annual fees around $500 or less). One exception to this is if you've chosen a specialty fund, for example a fund that invests ethically. In this case, you may justify the higher fee as these funds can be more expensive to manage - but this is a personal choice.

High long-term performance

Look at the 5- and 10-year performance returns instead of only looking at the past year's performance. Super is a long-term investment, so you want a fund that has consistent, strong performance over the long term rather than a one-off good year. So for a standard balanced MySuper product, 10-year performance of around 7-8% p.a. or better is quite good. If it's a high growth option, you can expect 10-year performance even higher than this.

An investment strategy that suits your age

Generally, you should 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. If you're young and want to take on more risk, compare high-growth investment options.

An investment strategy for your risk appetite

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 and regardless of age, e.g. balanced, conservative or high growth. Think about which option works best for you before comparing.

An investment approach that aligns with your values

According to Finder data, 43% of Australians are interested in their super being invested ethically. 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.

Insurance cover for your needs

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 if the fund offers it before joining. Take a look at the fund's PDS to understand the default level of cover offered and the cost.

You might decide that you don't need insurance cover at all. According to our analysis, you can save $22 per year and over $10,000 by the time you retire on average by switching to a fund without insurance cover.

"Your superannuation account is your bank account for future you; to ensure there is as much as possible in there for when you retire, you want to add as much as you can while reducing its fees. Maximise incomings while minimise outgoings – simple.

To maximise the inputs into your super – other than through contributions – take a look at fund performance. If your fund is consistently underperforming its competitors over the long term, this means you will likely have significantly less money when you get to retirement. To reduce your outgoings of your super, run a fee comparison between your fund and others. A general rule is that your super fund's fees should be around 1 per cent. "

Pascale Helyar-Moray

Superannuation expert

How to choose the right super fund for you

If you're under 35

Because you have so much time on your hands, it's generally recommended you invest via a high-growth investment option. Shares can be volatile in the short term but continue to perform exceptionally well over the long term.

If you're 35–55

When you're in your 30s and 40s, you still have 15–30 years before retirement, which is still plenty of time to stay invested in a high-growth option. As you get closer to 50 you may have a lower risk tolerance and could consider gradually reducing your exposure to shares by switching to a balanced investment option (or splitting your money between high growth and balanced).

If you're over 55

When you're in your 50s as you get closer to retirement it's generally advised to have a more balanced mix of investments. Your super will stay invested for many years even after you turn 55 so it's important to have some exposure to shares so your balance continues to grow, but you might not want all your balance invested in shares.

Remember, there's no set rule for how you should invest based on your age alone, these are just some general ideas to get you started.

"I ignored my super balance for years. I even kept an old fund open with a few thousand dollars in it. Bad idea. Then I consolidated funds and switched from my default balanced option to a higher growth, higher risk option. This suits me because I am decades from retirement, so I can handle some volatility. And growth is my main objective. I only wish I'd done it earlier in life!"

Richard Whitten

Money Editor

What's happening with super funds in June 2025?

Super balances fell throughout February and March, thanks to drops in the local and global sharemarkets.

But in good news, Super Ratings estimates that funds delivered a positive return for April (with this trend likely continuing throughout May).

Despite market volatility the research group says the average balanced super fund is still up aroun 6% for the financial year so far.

Market update from Finder's superannuation editor, Alison Banney.

Thousands of people compare super funds with Finder every month

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Comparing different super fund investment options

Once you decide on a super fund to join you can also decide how you want your super to be invested by that fund.

When you join a super fund you'll usually initially be placed in its default product option which is called the MySuper product (usually this is the balanced option). This is the standard super investment option that is designed to suit most members and it's where the majority of Australians have their super invested.

Other super investment options are usually based on risk level and asset class, for example:

• Conservative: This option will invest in more defensive, low-risk assets like cash and bonds. It's designed to protect your balance, rather than achieve high returns.
• Balanced or growth: A balanced or growth option offers a more even mix between defensive and growth assets, but it'll still skew more towards growth assets (like shares).
• High growth: These options invest heavily in shares and are more high-risk in the short term, but usually achieve better returns over the long term.
• Single sector options: Unlike the previous 3 options which are diversified funds, single sector investment options will invest entirely into one asset class such as shares.

Some funds offer an ethical investment option, too.

How different super investment options perform

Typically you can expect a high growth option to achieve better returns over the long term compared to a balanced or conservative option. However, they can also experience more volatility in the short term as having increased exposure to shares makes them more vulnerable when there's a market fall.

Data is supplied by Super Rating and relates to the performance period ending May 2024.

Our expert says

"You don't need to choose an investment option when you join a new fund if you don't want to. The default options are designed to suit most people, and many are among the top-performing funds each year. If you do want to change your super investment option later, you can do this easily by logging in to your account online or via the fund's mobile app. Also, keep in mind you can split your account balance between various options. This could be a good solution if you can't decide between two different investment options."

Alison Banney

Editorial Manager, Money

Why should you compare super funds?

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.

But what if the fund your employer chose isn't great? If you're stuck in an underperforming fund, it 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

• What is superannuation?

  Your superannuation will be used to help fund your retirement. Throughout your working life, a small amount of the money you earn each year will be sent to your chosen super fund (instead of your bank account). The idea is that by putting aside a small chunk of your earnings on a regular basis from the day you start your first job, you should have enough money to live on when you retire. As your super is your bank account for 'future you', you want to make sure there is as much money in there as possible. There are lots of different ways to contribute to your superannuation, whether you are working or not, partnered or single.

• What is the best super fund?

  The best super fund for you will depend on your age, risk tollerance and investment preference. You can look at Finder's best super funds guide for more help choosing.

• How do I check my super balance?

  You'll receive an account statement once or twice a year. Most funds will have an online portal or mobile app you can log in to and see an up-to-date transaction history and balance for your account.

  You can also see your current super balance by logging in to your myGov account online.

• How much super do I need to retire?

  According to the latest retirement standard by the ASFA, you need around $595,000 in super for a comfortable retirement as a single person, or a collective $690,000 for couples⁷. This is just a guide – you may need more or less than this depending on your lifestyle.

  Both single people and couples require a $100,000 super balance for a modest retirement, according to the ASFA.

  The ASFA lump sum estimates for either a modest or comfortable retirement assume outright home ownership; this assumption may not be appropriate for your circumstances.

• How can I grow my super?

  • Make sure you're in a low-fee, high-performing fund
  • Consolidate funds so you only have one in your name
  • Consider making additional super contributions
  • Consider investing in a high growth option

• What happens to my super if I change jobs?

  Your super will come with you from job to job. When you start a new job, let your employer know your super account details so they can pay your super contributions into your existing fund. If you don't let them know they will still pay your super but will use their default fund.

• What should I consider when comparing funds in 2025?

  Local and global share markets performed really well in 2024. Because super funds are major investors in global shares, super fund returns also rose significantly in 2024. This means if you're comparing funds in 2025 you'll notice strong short term growth in many funds.

  Make sure you look at 5 and 10-year performance to get a longer, more accurate view of how a fund has performed over time.

The lowdown on Finder Score

Wondering how we work out Finder Score? We look at products across various risk profiles from more than 40 providers and we compare them against each other to get our simple score out of 10. Products are assessed on their historical performance across 1, 3, 5 and 10 years, along with their fees. Funds that are new to the market are assessed on their available returns. The historical performance used to score these funds is intended to give you a general idea of how well a fund has performed in the past. While Finder Score can be a helpful indicator, it shouldn't be the only factor you rely on when evaluating a fund. Past performance is not a guarantee of future results, and we encourage you to consider other aspects like fees, features, and your personal needs before making a decision.

The Finder Score methodology is designed by our Insights team. Commercial partners carry no weight and all products are reviewed objectively.

Digging deeper into the Finder superannuation score

• 9+ Excellent - These products delivered outstanding performance, with low fees and essential features. They represent the most compelling overall value.
• 7+ Great - Strong performers with relatively lower fees or higher historical performance. These funds are generally competitive, though they may compromise slightly on consistency or features.
• 5+ Satisfactory - Average to above-average performance and/or fees. These products may lack consistency in returns or offer limited value for cost-conscious members.
• Less than 5 – Basic - These products lag in performance and/or charge higher fees, making them less competitive overall — despite any features offered.

We assess funds for their historical performance by grouping them by risk profiles.

Why you can trust Finder's super fund experts

You pay nothing. Finder is free to use. And you pay the same as going direct. No markups, no hidden fees. Guaranteed.

You save time. We spend 100s of hours researching super funds so you can sort the gold from the junk faster.

You compare more. Our comparison tools bring you more super funds from across the market.

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten and reviewed by Pascale Helyar-Moray, a member of Finder's Editorial Review Board.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 651 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living