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How to choose a super fund

Updated on 9 January 2024

6 minute read

If you want to retire well, you're not alone. Here's what to compare when deciding which super fund is best for you.

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Which super fund is best?

Choosing a super fund can be hard as there is no one-size-fits-all solution, so take the time to do your research. The best super fund for you should have the features and benefits you need while investing your money affordably.

Your super balance will play a big role in deciding the lifestyle you live in retirement. Most Australians need to rely on some super savings to help them retire comfortably regardless of whether they are entitled to a government age pension.

There are different types of super funds so it's important to compare super funds based on your financial goals.

What should I look for in a super fund?

Here's what to consider when choosing a superannuation fund.

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Long-term investment performance

Super is a long-term investment so it’s important to look for good performance over at least five to ten years. Some super funds will focus on exceptional performance for the last year, but you want to be with a fund that will perform best for you in the long run. Keep in mind that past performance isn’t necessarily indicative of future performance, so it shouldn’t be the only thing you look at.

View our performance
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Competitive fees and costs

It's also important to think about the fees and costs a super fund charges members. While a small percentage difference in costs might not seem like much in the short term, it could cost you thousands of dollars more over your working life.

View our fees and costs
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Insurance cover for your needs

Having insurance cover within your super could give you peace of mind knowing your loved ones are secure should you pass away or can’t work for a period. But not all funds offer the same types of cover.

The types of insurance that may be available from your super fund include:

  • Death cover that pays a lump-sum benefit to your nominated beneficiaries after your death. They can also choose to take it as an income stream.

  • Total and Permanent Disability (TPD) cover that pays you a lump sum benefit if you become totally and permanently disabled. You can also choose to take it as an income stream. The definition of total and permanent disability varies between funds, but essentially it means that your disability will prevent you from ever working again.

  • Income Protection cover that replaces part of your income for a period of time should you be unable to work due to illness or injury.

View our insurance options
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Investment options

Your super fund invests your money for you to help it grow.

Most super funds will let you choose from a range of investment options. It’s worth taking a close look at the investment options as it can have a big impact on your retirement savings. Over time, the same amount of money invested in different investment options can produce different results.

Think about the risk you’re willing to take, the return you’re after and how long your money will be invested when picking your investment options.

View our investment options
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Tools and advice

Check that the super fund you’re looking at offers a range of member services. Can you access your account online, including via a mobile app? Does the fund offer financial advice to members as part of their membership? Does the fund have information to help you understand your super?

Does it have tools and calculators that can help you make the most of your super? As a member of ART, you’ll have access to all these services and more.

View our advice services & planning tools
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Type of fund

Industry funds and retail funds tend to be the most popular type of super funds in Australia. As one of Australia’s largest industry super funds, Australian Retirement Trust (ART) works for our 2.3 million members, not shareholders. This means we can give back profits to members as low fees and better services. We look after workers and business owners from all industries.

View what it means to be an industry super fund

Tell me more about comparison websites

There are plenty of super comparison websites that can help take some of the guesswork out of choosing the fund that’s right for you. While comparison sites can be helpful, it's important to not rely solely on them and do your own research.

Compare us to the average fund and see how much better off you would be as an Australian Retirement Trust member.

Join over 2.3 million members with one of Australia's largest super funds.

The right choice today could make a big difference to your future, and it only takes 5 minutes to join.

Join us today

Why choose us?

Financial advisers vote Australian Retirement Trust best super fund

Financial advisers voted Australian Retirement Trust the first-time winner of Best Super Fund award, recognising us as the super fund with the best value end-to-end product.

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Are you losing money by having more than one super fund?

Having more than one super account could hurt your retirement plans. Learn what it means to consolidate your super, why it's important, and how to do it.

5 min read

Make the most out of your super

It's never too early to start thinking about ways to grow your super for your retirement. Here are a few tips to save more.

5 min read

Before joining Australian Retirement Trust, consider the potential loss of insurance and other benefits that you may have in your other funds. The information contained on this website is general information only and does not take into account your individual objectives, financial circumstances or needs. You should consider your own objectives, financial circumstances and needs, before making a decision about the financial product. Also, think about where your future employer contributions will be paid. You should consider the Product Disclosure Statement and Target Market Determination before deciding whether to acquire, or continue to hold the product. For more information or financial advice from Australian Retirement Trust, call us on 13 11 84.