Does your super fund measure up?

Does your super fund measure up?
About this post

Superannuation is one of those topics that gets filed away in a drawer to think about later, but that shouldn’t be the case. Many of us will be drawing on our super for 30 or 40 years, so if it's currently being eroded by heavy fees or improper investments, it's time to take action. 

With changes to superannuation or the aged pension pitched at a government level every few years, it’s imperative to make sure your super fund is doing the heavy lifting now to ensure you have enough to get through your retirement years. 

It may be worth putting your super fund to the test and seeing how it measures up on the following fronts.


Super funds need to charge fees to cover the management of your savings and the cost of investing, but how much funds charge for those duties tends to vary significantly. The best way to determine whether you're paying too much in fees is by comparing your fund with other similar funds. ASIC's superannuation calculator can tell you how much of a difference a slight reduction in fees could make to your overall super balance. 

Investment risk tolerance

If you have an industry or retail super fund (as opposed to a self-managed super fund), your fund will invest your money on your behalf. It’s up to you to determine how much risk you want your fund to take. The default option is the balanced fund, which shares the risk between aggressive (higher risk, potential for higher return) and conservative investments. Balanced options are not right for everyone and if you want to take a little more or a little less risk, you can change your allocation with your super fund.


Many super funds offer basic life insurance options and may charge less than direct channels or advisers given the bulk discounts they are sometimes eligible for. You may pay a higher premium if you want to be covered for other scenarios, such as a loss of income or disability. Have a conversation with loved ones about the best option for you.  


We are repeatedly warned past performance is no indicator of future performance, so beware of any fund that makes performance promises. If you do want to gauge how your fund has tracked historically against other funds, you can compare here

Customer service

Customer service is rarely a metric used to compare super funds, but if you’re getting close to retirement, it’s nice to be able to call your fund and know your questions will be answered. Some funds have dedicated advisers, others have available consultants, others have very few options for customers with queries. Worth investigating sooner rather than later.

This article is general in nature and should not be substituted for tailored financial advice. 

This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. For superannuation products, see the rating methodology. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. See our terms of use for further details. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you. This information service uses data and research provided by SuperRatings (ASFL: 311800), which provides general information on superannuation. Read more about SuperRatings’ information service and how their ratings work. As with all investments, past performance is not a reliable indicator of future performance.