How to choose a super fund

Look for these features when choosing a super fund:

• High past performance figures, particular 5 and 10-year figures
• Low fees compared to other funds (preferably annual fees less than 1.5% of your balance)
• An investment strategy that suits your risk tolerance and preferences

Performance, fees, and strategy are 3 key features to look for when choosing a super fund. However there are other features as well, which we'll go into these points in more detail later in this guide, or if you're ready to choose a super fund you can use our comparison table below right now.

Choose a super fund

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Name	Last 1 year performance (p.a.)	Last 3 year performance (p.a.)	Last 5 year performance (p.a.)	Last 10 year performance (p.a.)	Fees on $50k balance (p.a.)
Australian Ethical Super Balanced Green CompanyEthical	Last 1 year performance (p.a.) +9.53%	Last 3 year performance (p.a.) +6.73%	Last 5 year performance (p.a.) +6.71%	Last 10 year performance (p.a.) +7.56%	Fees on $50k balance (p.a.) $603	Go to siteMore Info Compare
Hostplus Balanced Industry fund	Last 1 year performance (p.a.) +8%	Last 3 year performance (p.a.) +10%	Last 5 year performance (p.a.) +6.89%	Last 10 year performance (p.a.) +8.93%	Fees on $50k balance (p.a.) $606	Go to siteMore Info Compare
Aware Super High Growth Industry fundHigher risk	Last 1 year performance (p.a.) +10.92%	Last 3 year performance (p.a.) +9.62%	Last 5 year performance (p.a.) +7.64%	Last 10 year performance (p.a.) +9.29%	Fees on $50k balance (p.a.) $497	Go to siteMore Info Compare
Virgin Money Super - LifeStage Tracker LifestageHigher risk	Last 1 year performance (p.a.) +13.07%	Last 3 year performance (p.a.) +8.72%	Last 5 year performance (p.a.) +6.98%	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $346	Go to siteMore Info Compare
HESTA Balanced Growth Industry fund	Last 1 year performance (p.a.) +9.59%	Last 3 year performance (p.a.) +8.61%	Last 5 year performance (p.a.) +6.56%	Last 10 year performance (p.a.) +8.02%	Fees on $50k balance (p.a.) $477	Go to siteMore Info Compare
CareSuper Growth Industry fundHigher risk	Last 1 year performance (p.a.) +11.7%	Last 3 year performance (p.a.) +9.47%	Last 5 year performance (p.a.) +6.95%	Last 10 year performance (p.a.) +8.94%	Fees on $50k balance (p.a.) $553	Go to siteMore Info Compare
AustralianSuper - Balanced Industry fund	Last 1 year performance (p.a.) +8.23%	Last 3 year performance (p.a.) +8.25%	Last 5 year performance (p.a.) +6.75%	Last 10 year performance (p.a.) +8.61%	Fees on $50k balance (p.a.) $382	Go to siteMore Info Compare
Australian Retirement Trust - Growth Higher risk	Last 1 year performance (p.a.) +11.96%	Last 3 year performance (p.a.) +11.95%	Last 5 year performance (p.a.) +8.36%	Last 10 year performance (p.a.) +9.53%	Fees on $50k balance (p.a.) $587	Go to siteMore Info Compare
UniSuper Balanced Industry fund	Last 1 year performance (p.a.) +10.34%	Last 3 year performance (p.a.) +7.54%	Last 5 year performance (p.a.) +6.63%	Last 10 year performance (p.a.) +8.37%	Fees on $50k balance (p.a.) $351	Go to siteMore Info Compare
Virgin Money Super Indexed Australian Shares Indexed investmentHigher risk	Last 1 year performance (p.a.) +14.74%	Last 3 year performance (p.a.) +11.09%	Last 5 year performance (p.a.) +7.58%	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $388	Go to siteMore Info Compare
HESTA High Growth Industry fundHigher risk	Last 1 year performance (p.a.) +12.58%	Last 3 year performance (p.a.) +11.27%	Last 5 year performance (p.a.) +8.3%	Last 10 year performance (p.a.) +9.46%	Fees on $50k balance (p.a.) $557	Go to siteMore Info Compare
UniSuper Conservative Balanced Industry fund	Last 1 year performance (p.a.) +5.5%	Last 3 year performance (p.a.) +4.72%	Last 5 year performance (p.a.) +4.51%	Last 10 year performance (p.a.) +6.19%	Fees on $50k balance (p.a.) $366	Go to siteMore Info Compare
Australian Retirement Trust - Lifecycle Balanced Pool Lifestage	Last 1 year performance (p.a.) +9.88%	Last 3 year performance (p.a.) +9.51%	Last 5 year performance (p.a.) +6.98%	Last 10 year performance (p.a.) +8.4%	Fees on $50k balance (p.a.) $547	Go to siteMore Info Compare
AustralianSuper Conservative Balanced Finder AwardIndustry fund	Last 1 year performance (p.a.) +5.64%	Last 3 year performance (p.a.) +5.43%	Last 5 year performance (p.a.) +5.04%	Last 10 year performance (p.a.) +6.74%	Fees on $50k balance (p.a.) $367	Go to siteMore Info Compare
Australian Ethical Super Growth Green CompanyEthicalHigher risk	Last 1 year performance (p.a.) +11.43%	Last 3 year performance (p.a.) +8.37%	Last 5 year performance (p.a.) +7.44%	Last 10 year performance (p.a.) +8.33%	Fees on $50k balance (p.a.) $733	Go to siteMore Info Compare
Australian Retirement Trust - Australian Shares Higher risk	Last 1 year performance (p.a.) +14.07%	Last 3 year performance (p.a.) +11.6%	Last 5 year performance (p.a.) +7.09%	Last 10 year performance (p.a.) +8.76%	Fees on $50k balance (p.a.) $352	Go to siteMore Info Compare
UniSuper Growth Industry fundHigher risk	Last 1 year performance (p.a.) +12.51%	Last 3 year performance (p.a.) +8.62%	Last 5 year performance (p.a.) +7.1%	Last 10 year performance (p.a.) +9.17%	Fees on $50k balance (p.a.) $426	Go to siteMore Info Compare

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The information in the table is based on data provided by Chant West Pty Ltd (AFSL 255320) which is itself supplied by third parties. While such information is believed to be accurate, Chant West does not accept responsibility for any inaccuracy in such information. Chant West’s Financial Services Guide is available at https://www.chantwest.com.au/financial-services-guide . Finder offers no guarantees or warranties about the data and we recommend that users make their own enquiries before relying on this information. Performance, fees and insurance data is based on each fund's default MySuper product. Where the performance, fees and insurance data for the MySuper fund vary according to the member's age, results for individuals between 40-49 years of age have been shown. Past performance is not a reliable indicator of future performance.

How do I choose a super fund?

Need a bit more help choosing? No worries! Let’s take a look at the features you want in a super fund in more detail.

Investment options and strong past performance

Super funds are basically big investment portfolios, with professionals who invest members’ money on their behalf. Historical performance of the fund, typically expressed as a percentage, is generally a measure of the return on investment the fund has achieved previously. You’ll mostly want to look at the fund’s performance for the last 5-10 years, as long-term performance is a better indicator than short-term performance.

While historical performance isn’t everything and past performance is not an indication of future performance, it's definitely an important factor to look at when choosing a super fund.

As well as performance make sure you take a look at:

• Investment options available. If you're looking for a particular type of investment option, such as a high growth option, check if the fund offers this before joining.

• How much control you have. Some people might want a managed super fund that still lets them do some of their own investing. Others might be particularly keen on the forex market, share trading, property or other investment types, and want a super fund that lets them put their money where they want it most.

• Ethical investing. If you'd prefer your savings to be invested ethically, such as in renewable energy rather than coal mining, you might want to consider an ethical super fund.

The super fund fees

As with most fees generally, the lower the better. Consider:

• Whether they’re worth it. You might come out ahead paying more fees for better investment returns, rather than choosing a low-fee fund that has consistently underperformed.
• Exactly how much you’re paying: Superannuation fees can be extremely confusing. Ideally you’ll want to understand exactly how much you’re paying in fees, and consider this as a percentage of your super balance. As a loose rule of thumb, ty to aim for annual fees that are less than 1.5% of your balance.
• Why the fees are higher or lower. A lot of super funds offer passive, index-based investment options which are much cheaper than actively managed options.

The insurance options

Most super funds offer insurance policies within your account, which are often slightly discounted. Generally, you can get a basic level of insurance cover for:

• Death (life insurance)
• Total and permanent disability (TPD insurance)
• Temporary inability to work (income protection insurance)

To compare the insurance cover offered by two different super funds you may want to look at:

• The types of cover: Do they both offer life, TPD and income protection insurance, or does one of them offer fewer cover types? Do they even offer any insurance at all?
• The payout: How much is paid out for each of the three cover types?
• The premiums: How much is it costing you? The cost of insurance will be taken out of your investment returns.
• Can you increase your cover? If you want more insurance cover, check how much you can increase your level of cover by.

All three insurance types can be found through super funds, or outside of superannuation instead. However, they work a bit differently in each case. In very basic terms, you might think of super insurance as the cheap “no-brand” option, and insurance outside of super as the “deluxe brand name” option. Depending on your situation, you might want to have it all inside super, all of it outside super, or a combination of both.

How to choose between the different types of super funds

There are various types of super funds which can be put under two different categories – profit for member funds and retail superannuation funds. Although there are still debates going on which category is better, understanding them is much better since their advantages and disadvantages are relative to the needs that you have. Compare the different types of super funds available using our table below.