Have all super funds lost money?

Not all super funds have lost money, but some may have experienced negative returns during periods of market volatility, such as during economic downturns or financial crises. Super funds with high exposure to equities or other volatile assets might see losses in such periods, while more conservative funds with higher allocations to bonds or cash might perform better.

Which are the failing super funds in Australia?

Failing super funds in Australia are typically those that consistently underperform, have high fees, or fail the annual performance test conducted by the Australian Prudential Regulation Authority (APRA). Super funds that fail this test may be forced to notify their members, and consistent underperformance could lead to fund closure. APRA publishes a list of underperforming funds annually, so it's important to check these reports and consider switching to a better-performing fund.

Should I have 2 super funds?

Every super fund you have charges fees, so having more than one fund means you're paying extra fees for no reason. While some fees and costs are calculated based on your balance, most funds also charge a flat fee of $5 to $15 per month. If you have more than one account, you're paying those flat fees multiple times, which eats into your retirement balance. You can consolidate your funds easily and quickly online.

Is Colonial First Super under-performing?

Colonial First Super has had some issues over the years, including a class action lawsuit, penalties for misleading members and extra license conditions imposed by APRA. However, it has not failed APRA's performance test. As of May 2026, Colonial First's average fees are competitive and its super fund products have recorded 10-year returns in the 7–8% range.

Is it worth switching super funds?

Yes. Switching to a better super fund is probably one of the smartest financial decisions you can make. Even a small increase in performance or slightly lower fees can make a big difference to your wealth by retirement.

Can I switch super funds without losing money?

Switching to a better fund will likely save you money through lower fees and better returns. And there's no cost for exiting a super fund (for most funds). While it's not a direct financial cost, changing super funds will affect your life insurance cover, assuming you have life insurance cover in your super. The new fund may have different cover than your old one, which could change how much you pay in premiums or any potential payouts.

Super Funds Archives

Worst performing super funds in Australia

Here’s a current list of the worst-performing super funds in Australia and steps for how to switch to a better fund.

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Child Care Super | Performance, features and fees

Child Care Super is a super fund designed for women, open for all Australians to join.

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ING Living Super: Performance, features and fees

ING Living Super offers easy online access and a choice of flexible investment options to suit your life stage and retirement goals.

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TelstraSuper Review | Performance, features and fees

Read our review of TelstraSuper to learn more about TelstraSuper's performance, fees and wide selection of investment choices.

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Compound growth: What is it and how does it grow your super?

Compound growth allows your super returns to be reinvested and generate their own returns, helping your balance grow much faster over time. Here's how it works.

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Retirement statistics for 2023

Retirement statistics: 27% of Australians are not sure if they have enough to retire.

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Virgin Money Super: Performance, features and fees

With competitive fees, eight investment options and tailored super advice at no extra cost, Virgin Money Super can help you enjoy a comfortable retirement.

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Spaceship Super | Performance, features and fees

Spaceship superannuation is designed for people in their 20s-40s. If you're working with a longer-term investment timeframe, you like the sound of transparent fees and low admin, and you're keen to invest in the growing technology sector, this could be the super fund for you.

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