How to Choose a Super Fund: A Practical Checklist

With dozens of super funds available in Australia, each with its own fees, investment options, and features, choosing one can feel overwhelming. Here is a practical way to work through it.

Start With Fees

Fees compound over decades, so they are one of the most important factors to compare, and one of the easiest to check objectively. Use our Compare page to see real fee figures across funds, sourced directly from APRA, and see the long term impact of fee differences with our Fees Impact Calculator.

Check Long Term Performance, Not Just One Year

A single year of strong or weak returns tells you very little about a fund’s underlying strategy. Look at three and five year performance figures where available, since these give a more meaningful picture of consistency than any single year.

Understand the Investment Options Available

Consider whether the fund offers an investment mix that suits your risk tolerance and timeline, whether that is sticking with a straightforward MySuper default or choosing from a broader range of options. Our MySuper vs Choice Super guide covers this distinction in more detail.

Review Insurance Cover

Check what insurance, if any, comes bundled with the fund, what it costs, and whether the level of cover actually suits your circumstances. This is easy to overlook but can meaningfully affect both your balance and your protection.

Consider the Fund’s Size and Stability

Larger, well established funds generally benefit from economies of scale, which can translate into lower fees, though this is not a universal rule and is worth checking rather than assuming.

Put It All Together

• Fees, checked against real data, not marketing claims
• Three and five year performance, not a single year
• Investment options that suit your risk tolerance
• Insurance cover that actually fits your needs

If you already have a fund and are simply checking whether it still stacks up, our Compare page and calculators are built to make that comparison straightforward, using real data rather than marketing claims.

This information is general in nature and not financial advice. See our full Disclaimer for details.