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What's MySuper in Australia?

Updated on 1 July 2024

3 minute read

Super funds in Australia offer members a simple, low-fee investment option called a MySuper product. It's the default option if you haven't chosen your super investment.

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How does MySuper work?

If you don't choose where to invest your money, your super will be invested in the MySuper option.

The idea is to grow your wealth over the long term while balancing the level of risk.

MySuper is the default superannuation product for accumulation accounts offered by super funds. It’s a simple and low-cost option when you join a super fund.

MySuper key features

  • Standard features including basic insurance cover.

  • Simple, low-effort investment plan.

  • Low cost as you only pay for services you get.

  • Clear information about fees, investment options, and performance.


How is my money invested in MySuper?

Your super fund invests your money for you. In general, MySuper accounts have either a 'single diversified' or a 'lifecycle' investment option.

  • Single diversified investment option

    Your fund puts your money in a standard mix of investments, like shares, fixed income, and cash.

  • Lifecycle investment option

    This option automatically changes to match the stage of life you're in. Your account slowly moves from focusing on growth when you're younger or have a lower balance, to focusing on less risk as you get closer to retirement or have more super.

Even if you've already chosen an investment option, you can choose to move to a MySuper option at any time.

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Choose a super fund with 8.3% p.a. returns over 10 years1

Learn how our default MySuper lifecycle investment option works and how you can benefit.

MySuper performance

How can I do a MySuper funds comparison?

Like other super products, all MySuper products must pass an annual performance test by the Australian Prudential Regulation Authority (APRA).

You can see the results on the ATO’s YourSuper comparison tool. You can also use the tool to compare the fees and performance of your MySuper product against those from other super funds.

If it’s underperforming, think about changing to a different super fund.

A high-performing super fund with lower fees can make a big difference to your retirement income. An average Australian spending their working life with the worst performing MySuper product could be up to $98,000 worse off at retirement.

Other things to consider when choosing a super fund are investment choices, insurance options, and member tools and advice.

As one of Australia’s largest industry super funds, we can give back profits to members as lower fees and better value products and services.


Are you with an underperforming super fund?

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Don’t risk being worse off in retirement. As the Best Superannuation Industry Fund for 2024, we’re backed by many awards and top ratings over the years.

How to change super funds

Remember that you don’t have to stay in a MySuper product. Just like most super funds, we offer a wide range of investment choices that give you a more active role in your super investments.

Our investor quiz can also help you find out the type of investor you might be based on your age, your risk comfort level, and when you can access your super.

Superannuation is one of the largest investments you’ll ever have, so it's worth checking your options and deciding what's best for you.


A focus on strong, long-term returns

Good returns give your super more chance to grow, both now and over the long term. Make the right choice today for a better tomorrow.


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1. Over the 10 years to 31 March 2024, our Balanced option returned 8.3% p.a. (Accumulation), 8.3% p.a. (Super Savings Lifecycle Investment Strategy - Balanced Pool), and 9.1% p.a. (Income). The option has adopted the pre-merger investment strategy of the Sunsuper Balanced option. Source: SuperRatings Fund Crediting Rate Survey - SR50 Balanced (60-76) Index, 31 March 2024. The industry median return for the SR50 Balanced (60-76) Index comprises the 50 largest investment options with a similar asset allocation to growth style assets between 60-76%. The Balanced option has identical investments to the Balanced Pool in the Lifecycle Investment Strategy. Members invested in the Lifecycle Investment Strategy invest a portion of their balance in the Balanced Pool from age 50. Past performance is not a reliable indicator of future performance. Ratings and awards are only one factor to be taken into account when deciding to invest. Investment returns are net of investment fees and costs, transaction costs, and investment taxes (where applicable). Investment tax generally doesn’t apply to Retirement Income accounts. Super Savings products issued by Australian Retirement Trust Pty Ltd (ABN 88 010 720 840, AFSL No. 228975) as trustee for Australian Retirement Trust (ABN 60 905 115 063). Consider the Super Savings product disclosure statements and TMDs before deciding.