How to change super funds in 4 steps

Step 1: Choose a new super fund

Look for a combination of low annual fees (ideally less then 1% of your balance), high long-term returns (look at 10-year performance) and an investment strategy you understand and agree with. If you'd like a bit of help choosing, take a look at our best super fund picks.

Step 2: Join the new super fund

Download the new membership form from the fund's website, which will ask you for the following details:

• Your personal details. This includes your full name, residential address, contact information and Tax File Number.
• Your employer's information. This includes the business name, address and ABN.
• The insurance cover you'd like to include. Most funds will include automatic default death and TPD cover, but you can choose to add income protection cover, or you can opt out of all cover if you don't think you'll need it.
• Your nominated beneficiaries. This is who your super will go to in the event of your death.

Once you've joined the fund as a member you'll be able to update your investment option, if you don't want to stay with the default option. You can switch investment options at any time.

"Before you switch funds, check if you've got any additional super funds open in your name you might have forgotten about. Just log into your myGov account online and click on the "Super" tab to see a list of funds in your name. You may choose to keep one of these funds instead of opening a new one."

Alison Banney

Editorial Manager, Money

Step 3: Transfer your existing super

Once you've completed the new membership form, there will be another form asking if you have any super you want to transfer over. You'll be asked to provide the following details:

• Your existing fund's name and contact number
• The fund's ABN and USI numbers (you'll find these on your fund's website or on your last account statement)
• Your membership number and/or account number

The new membership form will have the details of where to send the completed form. Once you've submitted this, your new super fund will take care of the rest for you. If you've got more than 1 fund you'll need to submit separate forms for each.

Step 4: Tell your employer

You'll find another form (yes, another form) on your new fund's website called "Employee super choice form" or "Pay my super into XYZ Fund". It'll be pre-filled with the details that your employer needs. Add your name and membership number, and give this form to your employer so they can start paying your super into your new fund. Don't worry, you can download and send this via email - no need to print off a paper copy.

Ready to compare? Choose a new super fund.

1 - 10 of 386

Product	Finder Score	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.)
Vanguard Super SaveSmart - High Growth NewHigher risk	Finder Score 8.8 Great	Last 1 year performance (p.a.) +6.46%	Last 3 year performance (p.a.) N/A	Last 5 year performance (p.a.) N/A	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $270	This is a high-risk, high-growth option that invests in a range of different asset classes, with a strong focus on Australian and international shares.	Go to siteMore info Compare	loading Fetching your data...
Aware Super Balanced Industry fund	Finder Score 8.2 Great	Last 1 year performance (p.a.) +6.02%	Last 3 year performance (p.a.) +6.13%	Last 5 year performance (p.a.) +8.82%	Last 10 year performance (p.a.) +6.96%	Fees on $50k balance (p.a.) $422	This is a balanced option aiming for moderate growth over the long term.	Go to siteMore info Compare	loading Fetching your data...
Australian Ethical Super International Shares EthicalHigher risk	Finder Score 8.1 Great	Last 1 year performance (p.a.) +10.83%	Last 3 year performance (p.a.) +11.65%	Last 5 year performance (p.a.) +12.92%	Last 10 year performance (p.a.) +9.3%	Fees on $50k balance (p.a.) $648	This option aims for high growth, with a higher risk profile, by investing in international stock markets.	Go to siteMore info Compare	loading Fetching your data...
AMP Super MySuper Lifestages 1970s Lifestage	Finder Score 8.6 Great	Last 1 year performance (p.a.) +6.93%	Last 3 year performance (p.a.) +6.56%	Last 5 year performance (p.a.) +9.9%	Last 10 year performance (p.a.) +6.96%	Fees on $50k balance (p.a.) $481	Go to siteMore info Compare	loading Fetching your data...
UniSuper - High Growth Industry fundHigher risk	Finder Score 8 Great	Last 1 year performance (p.a.) +4.9%	Last 3 year performance (p.a.) +6.96%	Last 5 year performance (p.a.) +12.34%	Last 10 year performance (p.a.) +8.88%	Fees on $50k balance (p.a.) $451	This fund targets high growth over a long term horizon by investing in higher growth, higher risk assets such as Australian and international shares.	Go to siteMore info Compare	loading Fetching your data...
Hostplus Australian Shares Industry fundHigher risk	Finder Score 8.1 Great	Last 1 year performance (p.a.) +3.62%	Last 3 year performance (p.a.) +5.58%	Last 5 year performance (p.a.) +13.86%	Last 10 year performance (p.a.) +8.1%	Fees on $50k balance (p.a.) $350	This is a high-risk, high-growth investment option that invests entirely in Australian shares and aims for strong returns over the long term.	Go to siteMore info Compare	loading Fetching your data...
Australian Retirement Trust - High Growth Industry fundHigher risk	Finder Score 8 Great	Last 1 year performance (p.a.) +6.48%	Last 3 year performance (p.a.) +7.86%	Last 5 year performance (p.a.) +12.36%	Last 10 year performance (p.a.) +8.79%	Fees on $50k balance (p.a.) $507	Go to siteMore info Compare	loading Fetching your data...
Aware Super Future Saver - MySuper Lifecycle High Growth Industry fundLifestageHigher risk	Finder Score 7.2 Great	Last 1 year performance (p.a.) +6.56%	Last 3 year performance (p.a.) +6.76%	Last 5 year performance (p.a.) +10.77%	Last 10 year performance (p.a.) +8.09%	Fees on $50k balance (p.a.) $457	A lifecycle super fund weighted heavily towards high growth assets, targeted to people 55 and under.	Go to siteMore info Compare	loading Fetching your data...
Australian Ethical Super - High Growth EthicalHigher risk	Finder Score 5.9 Standard	Last 1 year performance (p.a.) +5.61%	Last 3 year performance (p.a.) +6.22%	Last 5 year performance (p.a.) +12.04%	Last 10 year performance (p.a.) +7.41%	Fees on $50k balance (p.a.) $728	This is a high-risk, high-growth option that invests in Australian and international shares, property and alternatives to provide long term growth.	Go to siteMore info Compare	loading Fetching your data...
Spaceship - GrowthX Higher risk	Finder Score 8.1 Great	Last 1 year performance (p.a.) +8.38%	Last 3 year performance (p.a.) +10.91%	Last 5 year performance (p.a.) +12.58%	Last 10 year performance (p.a.) N/A	Fees on $50k balance (p.a.) $571	Go to siteMore info Compare	loading Fetching your data...

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How we picked these

The information in this table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.

*Past performance data and fee data is for the period ending March 2025

Pros and cons of switching super funds

Pros

• Quick and easy. It's a relatively straightforward process to change funds.
• Potential to save. If you switch to a fund with lower fees and better long-term performance you have the potential to save thousands of dollars for your retirement.
• Find lost super. In the switching process you might find some old super funds you can consolidate to save on fees. Research has found around a third of super accounts are unintended multiple accounts.

Cons

• Some paperwork. No-one enjoys paperwork, and there are a few forms to fill out.
• Change in insurance. You'll lose your previous insurance cover and the it may be difficult to get the same level of cover with a new fund.
• Switch regret. If you're switching funds based off a single years' performance returns you may end up regretting your decision the following year. Make sure to only look at long-term performance when making a decision to switch.

Finder survey: Which super fund are Australians with?

The information in this table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.

*Past performance data and fee data is for the period ending March 2025

Frequently asked questions

• What will it cost to change super funds?

  It doesn't cost anything to leave a super fund, and there are no joining fees for opening an account with a new super fund.

• Will I need to pay capital gains tax when switching funds?

  No, not initially. When you roll over your super into another fund, the money stays within the super system (rather than being 'sold'). So any tax elements that apply will simply be rolled over to the new fund, and will apply when you eventually withdraw the money.

• Do I need to change super fund when changing jobs?

  No. When you start your new job, simply give your new employer your super fund details and they'll pay your super into your existing fund. Your super is yours, and will always be in your name, regardless of where you're working.

• Is switching super funds worth it?

  The small bit of effort required to change funds is extremely minor when compared to the cost of sticking with a high-fee, poor performing fund. The difference in fees might not seem like much over one year, but when compounded over 20, 30 or even 40 years, the difference really adds up. By switching to a fund that charges 1% lower fees than your current fund, you could potentially retire with thousands (or even hundreds of thousands) more in your super.

• How do I compare super funds?

  The main things to compare when choosing a new super fund are the fees and performance returns. With the fees, the lower the better, and with the performance returns the higher the better. For more help, you can read our detailed guide on how to compare super funds.

• How do I consolidate super funds?

  The 4 steps to consolidating your super funds are: locate your funds, choose your primary account, transfer your balance/s into the new account and update your employer.

• Can you have more than 1 super fund?

  There are a lot of superannuation funds in Australia and it's easy to have multiple funds. You can have more than 1 super fund, but it's not a good idea to do so. Having multiple funds means incurring multiple sets of fees, which is unnecessary and will eat into your retirement balance.

Ryan is the founder and CEO at Tribeca Financial, a financial advice firm that listens, learns and then gets you on track. He's an accomplished financial advisor and financial wellbeing coach with over 15 years of experience.

To make sure you get accurate and helpful information, this guide has been reviewed by Ryan Watson, a member of Finder's Editorial Review Board.

Written by

Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise

Alison has written 651 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living