Retirement
Are you in a dud fund? New government website reveals all
Australia’s superannuation members can now see how their fund is performing with the launch of a new website which uncovers Australia’s best and worst-performing funds.
Are you in a dud fund? New government website reveals all
Australia’s superannuation members can now see how their fund is performing with the launch of a new website which uncovers Australia’s best and worst-performing funds.

As part of the Your Future, Your Super reforms, the Tax Office has launched a YourSuper comparison site which shows 80 MySuper products and ranks them accordingly.
However, it should be noted the comparison site compares MySuper products, with members outside of this not captured in the rankings, with the full list set to become available from 1 July 2022.
According to the Treasury, the interactive online YourSuper comparison tool will help consumers compare the performance and fees of their MySuper products and make better informed decisions.
The comparison site shows the differences between the best products and the worst products, in terms of both fees and investment performance.

Namely, it reveals that the worst five funds all delivered returns of less than 5.5 per cent per annum over a six-year period. Conversely, the top five products for investment returns are all managed by industry funds, led by Australia’s largest fund AustralianSuper which returned 8.1 per cent to members.
Equaling top spot was Hostplus, which also returned 8.1 per cent.
Rounding out the top five based on six-year returns were Local Government Super, Construction and Building Union Super and QSuper.
On the other end of the scale, the likes of ASGARD Independence Plan, BT Super, AON Master Trust Westpac Group and Commonwealth Essential Super had the lowest returns.
However, it should be highlighted these are pure returns and do not take into calculation risk, insurance in the fund and other investment options.
When it came to fees, the likes of QSuper, Super Direction Fund, Bendigo Superannuation Plan, Uni Super and AMG Super are charging members the least per year.
While members of Mercer Super, Qantas Superannuation, MyLife My Money Superannuation, Public Sector Superannuation and Australian Defence Force Superannuation Scheme were paying the most in fees.
Commenting on the new tool, Superannuation Minister Jane Hume said the interactive site – which members will be able to access via their MyGov account – will “make the performance of default MySuper products clear and comparable”.
“These are funds that many thousands of Australians find themselves automatically signed up to, and now these funds will have to compete for the hard-earned retirement savings of Australians,” Senator Hume said.
The next phase in the government’s reforms will require superannuation products to meet an annual objective performance test.
Funds with products that fail the test will be required to inform members, while persistently underperforming products will be prevented from taking on new members. Members will be notified by 1 October 2021 if their product fails this test.
About the author

About the author


Superannuation
Superannuation guarantee rate rises to 12 per cent as parental leave changes take effect
The superannuation guarantee rate has increased from 11.5 per cent to 12 per cent from Tuesday, with super contributions also being added to Commonwealth Parental Leave Pay for the first time. Read more

Superannuation
Rest's Sustainable Growth option achieves highest sustainability classification
Rest superannuation fund has achieved the highest sustainability classification for its Sustainable Growth investment option from the Responsible Investment Association Australasia. Read more

Superannuation
Aware Super slashes admin fees for retirees by up to 25 per cent
Aware Super has reduced administration fees for members with a retirement income account by up to 25 per cent and lowered the maximum annual fee. Read more

Superannuation
SuperAPI co-founder criticises Labor's superannuation tax as 'sneaky tax on young people'
The co-founder of SuperAPI has labelled Labor's proposed tax on superannuation balances above $3 million as a "sneaky tax on young people, tomorrow" disguised as a policy targeting wealthy retirees ...Read more

Superannuation
Election policies could reshape Australia's superannuation landscape, expert warns
Competing superannuation policies from Australia's major political parties could have significant implications for investors and retirees, according to a financial expert. Read more

Superannuation
Industry leaders weigh in on concessional super tax as Budget confirms $55bn investment
Changes to the taxation of superannuation earnings and contributions have drawn mixed responses from financial and payroll sector leaders, as the Federal Budget confirms over $55 billion in ...Read more

Superannuation
Call for indexation on super tax cap as $3m threshold draws criticism
A senior executive in the superannuation technology sector has criticised the Federal Government for failing to index the proposed $3 million superannuation tax cap, arguing the measure will unfairly ...Read more

Superannuation
Rest members back calls for fairer superannuation rules ahead of Federal Budget
Rest has called on the Federal Government to implement superannuation reforms aimed at improving fairness across the system, after member survey results showed strong support for a range of proposed ...Read more

Superannuation
Superannuation guarantee rate rises to 12 per cent as parental leave changes take effect
The superannuation guarantee rate has increased from 11.5 per cent to 12 per cent from Tuesday, with super contributions also being added to Commonwealth Parental Leave Pay for the first time. Read more

Superannuation
Rest's Sustainable Growth option achieves highest sustainability classification
Rest superannuation fund has achieved the highest sustainability classification for its Sustainable Growth investment option from the Responsible Investment Association Australasia. Read more

Superannuation
Aware Super slashes admin fees for retirees by up to 25 per cent
Aware Super has reduced administration fees for members with a retirement income account by up to 25 per cent and lowered the maximum annual fee. Read more

Superannuation
SuperAPI co-founder criticises Labor's superannuation tax as 'sneaky tax on young people'
The co-founder of SuperAPI has labelled Labor's proposed tax on superannuation balances above $3 million as a "sneaky tax on young people, tomorrow" disguised as a policy targeting wealthy retirees ...Read more

Superannuation
Election policies could reshape Australia's superannuation landscape, expert warns
Competing superannuation policies from Australia's major political parties could have significant implications for investors and retirees, according to a financial expert. Read more

Superannuation
Industry leaders weigh in on concessional super tax as Budget confirms $55bn investment
Changes to the taxation of superannuation earnings and contributions have drawn mixed responses from financial and payroll sector leaders, as the Federal Budget confirms over $55 billion in ...Read more

Superannuation
Call for indexation on super tax cap as $3m threshold draws criticism
A senior executive in the superannuation technology sector has criticised the Federal Government for failing to index the proposed $3 million superannuation tax cap, arguing the measure will unfairly ...Read more

Superannuation
Rest members back calls for fairer superannuation rules ahead of Federal Budget
Rest has called on the Federal Government to implement superannuation reforms aimed at improving fairness across the system, after member survey results showed strong support for a range of proposed ...Read more