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AustralianSuper Review | Performance, features and fees
AustralianSuper has a large range of investment options to choose from, including its award-winning Balanced option and a sustainable option. AustralianSuper products are well-known for their high returns over the long term.
AustralianSuper Conservative Balanced secured the top spot in the conservative balanced category. The annual fees for this fund amount to $367 on a $50,000 balance. This fund has demonstrated a balanced approach to investment, providing an annual return of 6.74% over the past 10 years and 5.04% over the past 5 years.
AustralianSuper investment options
You can choose any of the following ready-made or sector-specific investment options when joining AustralianSuper. If you don't want to choose you'll be placed in the default Balanced option, which is a top-performing MySuper fund.
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Unless indicated otherwise, the information in the table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, Australian Financial Services Licence 311880.
*Past performance data and fee data is for the period ending Jan 2024
2023 Super funds Customer Satisfaction Awards Highly commended:
AustralianSuper
AustralianSuper took third place in our super fund category this year, with 89% of the users that we surveyed saying they'd recommend the super fund provider to a friend. Its customer satisfaction rating was 4.14 out of 5. Find more about Finder Super Funds Satisfaction Awards 2023.
AustralianSuper Stable took the third spot in the conservative category, with an annual fee of $322 on a $50,000 balance. The fund offers stable and secure returns, with an annual average of 5.10% over the past 10 years and 3.50% over the past 5 years.
AustralianSuper High Growth took the third spot among high growth funds, with an annual fee of $377 on a $50,000 balance. The fund offers high-reward investments and has provided an annual average return of 9.63% over the past 10 years and 7.63% over the past 5 years.
What are the key features of AustralianSuper?
Wide range of investment options. AustralianSuper offers a broad range of investment options so you can tailor your super in line with your risk tolerance and investing preference.
Socially responsible investment option. There's a socially responsible pre-mixed, diversified investment option available for members looking for more ethical investments.
Strong investment performance. AustralianSuper's investment options have regularly outperformed the relevant benchmarks over the past 10 years, and are often among the top-performing funds.
Mobile app. The AustralianSuper mobile app makes it easy to access your super on the go. You can use the app to check your balance, change the way your super is invested, update your details and more.
Educational tools. AustralianSuper members can access a variety of seminars and educational programs to help you understand how super works and better manage your investments.
Financial advice. Members can also access a wealth of online financial advice and planning tools to help you take control of your finances. Fee-for-service financial planning is offered as well.
Easy fee structure. The fee structure is easy to understand.
AustralianSuper offers 3 types of investment options for you to choose from: Pre-mixed, DIY Mix and Member Direct. If you don't want to choose an option, your super will be invested in the Balanced investment option which is a MySuper-authorised fund.
Pre-mixed investment options
AustralianSuper Pre-mixed options are diversified portfolios that invest in a mix of different asset classes including shares, property, fixed interest and cash. They're designed for investors who only want a minimal amount of hands-on involvement with their super.
Pre-mixed investment options
Risk level
Asset allocation
High Growth
This option is the highest risk level of all the ready-made options, with around 60% allocation to local and international shares. It's designed for higher growth over the long term and is suited for investors with a longer investment timeframe.
< 5 years: High
5-20 years: Medium
> 20 years: Low
Growth: 76.9%
Defensive: 23.1%
Balanced (MySuper option)
This is the default investment option which all members will be placed in if they don't choose a different option after joining. It's designed for growth over the medium to long term. It has around 70% allocation to growth assets including local and international shares, private equity and property. This option is regularly one of the top performing growth super funds in the market.
< 5 years: High
5-20 years: Medium
> 20 years: Low
Growth: 66.3%
Defensive: 33.7%
Socially Aware
The Socially Aware option has a very similar level of investment risk to the Balanced option; however, it doesn't invest in Australian or international companies that directly own coal and fossil fuel reserves, produce tobacco or those which have single-gender boards.
< 5 years: High
5-20 years: Medium
> 20 years: Low
Growth: 66.5%
Defensive: 33.5%
Indexed Diversified
This option is designed to achieve growth over the medium to long term while lowering the costs of investing, as it uses index investing instead of active fund management. It has around 70% allocation to growth assets, designed to match index returns. Because it uses index investing the costs of this product are lower for members.
< 5 years: High
5-20 years: Medium
> 20 years: Low to medium
Growth: 70.3%
Defensive: 29.7%
Conservative Balanced
This option has less exposure to growth assets than the Balanced, Socially Aware and High Growth options, but more exposure to growth assets than the Stable option. It's designed to have both medium-term growth while protecting your investment balance.
< 5 years: Medium to high
5-20 years: Medium
> 20 years: Low
Growth: 49.7%
Defensive: 50.3%
Stable
This option has the lowest risk level of all the ready-made options, with around 61% allocation to defensive assets including cash and bonds. It's designed for investors with a shorter investment timeframe (e.g. if you're closer to retirement) or those with a low risk tolerance.
< 5 years: Medium
5-20 years: Low to medium
>20 years: Low to medium
Growth: 31.8%
Defensive: 68.2%
*Asset allocation between growth and defensive assets correct as of June 2023, and may shift slightly from time to time depending on market conditions and investment decisions.
These do-it-yourself options are single asset class portfolios that are managed by AustralianSuper. You decide how much you want to invest in each of the options listed below.
Australian Shares
International Shares
Diversified Fixed Interest
Cash
Member Direct investment options
This is AustralianSuper's self-managed investment option. Designed for those who want a high level of control over where their super is invested, Member Direct allows you to invest in:
The S&P/ASX 300 Index
Exchange traded funds (ETFs)
Listed Investment Companies (LICs)
Term deposits
You can manage your investments from an online platform, and super members need at least $10,000 to open an account. If you're a retirement income member, the minimum account balance is $50,000.
What insurance does AustralianSuper offer?
As part of being a member of AustralianSuper, you can access the following types of insurance cover through your super:
Income protection cover. This pays a monthly benefit for up to 2 years if you're unable to work due to illness or injury, while you can also apply for extended cover up to the age of 65. You can read more about AustralianSuper income protection in our separate review here.
Total and permanent disablement cover. This type of cover provides a lump sum payment if you become totally and permanently disabled and can no longer work. You can read more details of this cover here.
Death cover. This policy provides a lump sum payment when you die, allowing you to provide for your loved ones and help them repay debts.
How do I join AustralianSuper?
If you'd like to join AustralianSuper, click the green "Go to Site" button on this page. You'll be taken to the AustralianSuper website where you can complete an online application in around 15 minutes. You'll need to provide:
Your personal details, including your name, address, date of birth and contact information
Your Tax File Number (you do not have to give your super fund your TFN but if your fund doesn't have your TFN it won't be able to accept certain types of contributions from you and your benefit payments may be taxed at a higher rate than would otherwise apply)
Details of your employer
Once you've completed the application you will immediately receive your member number. A confirmation email will also be sent to you, and your membership application will be processed once you make the first contribution into your account. Your account and any insurance you have chosen will also become active once this first contribution has been received.
A welcome pack, which includes your AustralianSuper online account details, will then be mailed to you.
DISCLAIMER: This article may contain general advice. You should consider your own personal circumstances before deciding if a superannuation product is right for you. Superannuation is a long term investment and past performance is not indicative of future performance.
Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds.
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I am with Australian Super and looing to retire in the next 2 years and take my super as a fortnightly payment, what fees do I pay to the fund for administering this for me, I assume its not the $422 I pay whilst I add to the fund.
Hi,
I am a member of Australian Super. I
am a 37 year old woman and currently working through personal finances carefully for the first time in my life and working on understanding my super better at the moment.
My super is currently in your Australian Super – balanced option. My balance is currently around $50 000.
I wonder if you can help me understand the fees I’m paying. I have downloaded the Australian Super PDS, but I don’t understand all the details in the fees section.
I have read info on finder.com.au, comparing super funds. That website says the Australian Super pre-mixed balanced option fees on $50k balance (p.a.) are
$447.
However, I’ve downloaded my Australian Super statement for the 2021-22 year and I paid total fees of $896 that year. I see I paid admin and insurance fees of $532, and in addition I paid ‘Investment fees’ of $364.
I don’t understand what the different fees I am paying are, and I don’t understand why I paid nearly $900 in fees last financial year, while finder.com.au says my fund option costs $500 annually on a $50 000, like my balance.
Can you please help me understand the fees I’m paying in simple English, and also clarify why finder.com.au says my fees should be $400 less annually than they are? Below, I’ve pasted information from my super 2021-22 statement regarding the investment fees I paying.
Thanks
Star
“Investment fees.
Total fees and costs deducted from your investment: -$364.35
This approximate amount has been deducted from your investment and covers amounts
that have reduced the return on your investment and that are not reflected as transactions
listed on this statement. This includes:
Administration fees deducted from returns: -$18.08
This amount is the component of the administration fee that has been deducted from your
investment returns before returns are added to your account. This fee is applied as a
percentage of the money you have in your super account and is shown here as a dollar value. Tax benefit on administration fees: -$20.65
The tax benefit the Fund claims on its administration fee in the form of a reduced
Administration fee.
Investment fees and costs: -$325.62
The Investment fees and costs represents the cost to us of managing your money and
was deducted from before-tax investment returns before the returns were applied to your
account. These costs include external investment management fees, performance related
fees, and transactional and operational costs. The Investment fees and costs is expressed
as a percentage of the money you have invested in each investment option and is shown
here as an approximate dollar amount to help you understand the effect investment fees”
Hi Star,
You’ve reached Finder. We receive our super fund fee data from a third-party super research firm, which sources the data directly from the funds themselves.
For more help understanding your personal super account fees and details we suggest you contact AustralianSuper directly who can look at your account and give you specific, personal support.
Thanks,
Alison
According to 4.3.3.30 Employment Income for Pensioners of Age Pension Age pre-20/09/2009
Summary, “If a pensioner receives paid leave, the money received IS assessed as income under the normal income test.” Therefore holidays/ long service leave should not affect your pension.
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I am with Australian Super and looing to retire in the next 2 years and take my super as a fortnightly payment, what fees do I pay to the fund for administering this for me, I assume its not the $422 I pay whilst I add to the fund.
Hi there,
We’re not licenced to provide personal advice, so you’ll need to contact your super fund directly for advice on your situation.
You can call Australian Super on 1300 300 273.
Best of luck!
Hi,
I am a member of Australian Super. I
am a 37 year old woman and currently working through personal finances carefully for the first time in my life and working on understanding my super better at the moment.
My super is currently in your Australian Super – balanced option. My balance is currently around $50 000.
I wonder if you can help me understand the fees I’m paying. I have downloaded the Australian Super PDS, but I don’t understand all the details in the fees section.
I have read info on finder.com.au, comparing super funds. That website says the Australian Super pre-mixed balanced option fees on $50k balance (p.a.) are
$447.
However, I’ve downloaded my Australian Super statement for the 2021-22 year and I paid total fees of $896 that year. I see I paid admin and insurance fees of $532, and in addition I paid ‘Investment fees’ of $364.
I don’t understand what the different fees I am paying are, and I don’t understand why I paid nearly $900 in fees last financial year, while finder.com.au says my fund option costs $500 annually on a $50 000, like my balance.
Can you please help me understand the fees I’m paying in simple English, and also clarify why finder.com.au says my fees should be $400 less annually than they are? Below, I’ve pasted information from my super 2021-22 statement regarding the investment fees I paying.
Thanks
Star
“Investment fees.
Total fees and costs deducted from your investment: -$364.35
This approximate amount has been deducted from your investment and covers amounts
that have reduced the return on your investment and that are not reflected as transactions
listed on this statement. This includes:
Administration fees deducted from returns: -$18.08
This amount is the component of the administration fee that has been deducted from your
investment returns before returns are added to your account. This fee is applied as a
percentage of the money you have in your super account and is shown here as a dollar value. Tax benefit on administration fees: -$20.65
The tax benefit the Fund claims on its administration fee in the form of a reduced
Administration fee.
Investment fees and costs: -$325.62
The Investment fees and costs represents the cost to us of managing your money and
was deducted from before-tax investment returns before the returns were applied to your
account. These costs include external investment management fees, performance related
fees, and transactional and operational costs. The Investment fees and costs is expressed
as a percentage of the money you have invested in each investment option and is shown
here as an approximate dollar amount to help you understand the effect investment fees”
Hi Star,
You’ve reached Finder. We receive our super fund fee data from a third-party super research firm, which sources the data directly from the funds themselves.
For more help understanding your personal super account fees and details we suggest you contact AustralianSuper directly who can look at your account and give you specific, personal support.
Thanks,
Alison
When you retire does your holiday & long service leave effect your
application for pension at the moment I have 36 weeks.
Hi John, thanks for your inquiry.
According to 4.3.3.30 Employment Income for Pensioners of Age Pension Age pre-20/09/2009
Summary, “If a pensioner receives paid leave, the money received IS assessed as income under the normal income test.” Therefore holidays/ long service leave should not affect your pension.
Thanks.
Jonathan