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Compare the best superannuation funds^

Learn how you can start planning for your retirement. RateCity compares superannuation products from 100 Australian Superannuation funds. Compare the best super fund rates, fees, performance and more.- Last updated on 29 Jan 2020

QSuper Lifetime

Pay no transaction or switching fees and enjoy a range of different investment options

SuperRatings awards

Past 5-year return

9.11%

Access to subsidised financial planning and an award-winning contact centre.Flexible insurance options with coverage to age 70.

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QSuper terms and conditions

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AustralianSuper

SuperRatings awards

$117

$417

Advisory services
Death insurance
Income protection
Term deposits

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QSuper Lifetime

$465

Advisory services
Death insurance
Income protection
Variety of options

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Virgin Money Super

$58

$358

Advisory services
Death insurance
Income protection
Variety of options

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VicSuper Growth (MySuper)

$78

$588

Advisory services
Death insurance
Income protection
Variety of options

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QSuper Lifetime

Pay no transaction or switching fees and enjoy a range of different investment options

SuperRatings awards

Past 5-year return

9.11%

Access to subsidised financial planning and an award-winning contact centre.Flexible insurance options with coverage to age 70.

Go to site

QSuper terms and conditions

Find and compare some of the best Australian super funds

Now showing 1 - 20 of 93 superannuation

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Product	Past 5-year return	Admin fee	Company	Calc fees on 50k	Features	Go to site
HESTA - Industry Super Plan	10.81%	$65	HESTA - Industry Super Plan	$515	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
Hostplus Superannuation Fund - MySuper	9.65%	$78	Hostplus Superannuation Fund - MySuper	$533	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
AustralianSuper Public Sector Division	9.61%	$117	AustralianSuper Public Sector Division	$417	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
UniSuper Accumulation - MySuper	9.48%	$96	UniSuper Accumulation - MySuper	$361	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
Cbus Sole Trader	9.23%	$78	Cbus Sole Trader	$498	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
Sunsuper for Life - Super-savings Account	9.21%	$78	Sunsuper for Life - Super-savings Account	$533	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
Mercy Super - MySuper	9.18%	$57	Mercy Super - MySuper	$660	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
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QSuper Lifetime	9.11%	$0	QSuper Lifetime	$465	Advisory services Death insurance Income protection Online access Term deposits Variety of options	Go to site	More details
MTAA MySuper	9.1%	$78	MTAA MySuper	$443	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
Grow Wrap Super	8.92%	$0	Grow Wrap Super	$365	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
Prime Super	8.86%	$80	Prime Super	$604	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
ClearView WealthSolutions Superannuation	8.83%	$205	ClearView WealthSolutions Superannuation	$1.2k	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
max Super Fund - Personal	8.76%	$0	max Super Fund - Personal	$564	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
CareSuper MySuper	8.73%	$78	CareSuper MySuper	$583	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
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Media Super MySuper	8.73%	$65	Media Super MySuper	$490	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
MyLife MySuper	8.68%	$94	MyLife MySuper	$629	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
Catholic Super - Default Strategy	8.68%	$94	Catholic Super - Default Strategy	$629	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
WA Super - Super Solutions - Employer	8.62%	$73	WA Super - Super Solutions - Employer	$513	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
Vision Personal	8.62%	$78	Vision Personal	$243	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details
First State Super MySuper Life Cycle	8.6%	$52	First State Super MySuper Life Cycle	$527	Advisory services Death insurance Income protection Online access Term deposits Variety of options		More details

Include all superannuation products without View Now links

Data last updated on 30 Nov 2019

Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.

Past performance is not a reliable indicator of future performance. More detailed performance data is available by clicking on the details button.

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FAQs

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You or your partner could be forced to surrender part of your superannuation if you divorce, just like with other assets.

You can file a claim for division of property – including superannuation – as soon as you divorce. However, the claim has to be filed within one year of the divorce.

Your superannuation could be affected even if you’re in a de facto relationship – that is, living together as a couple without being officially married.

In that case, the claim has to be filed within two years of the date of separation.

Either way, the first thing to consider is whether you’re a member of a standard, APRA-regulated superannuation fund or if you’re a member of a self-managed superannuation fund (SMSF), because different rules apply.

Standard superannuation funds

If your relationship breaks down, your superannuation savings might be divided by court order or by agreement.

The rules of the superannuation fund will dictate whether this transfer happens immediately, or in the future when the person who has to make the transfer is allowed to access the rest of their superannuation (i.e. at or near retirement).

Click here for more information.

SMSFs

If your relationship breaks down, you must continue to observe the trust deed of your SMSF.

So if you and your partner are both members of the same SMSF, neither party is allowed to use the fund to inflict ‘punishment’ – such as by excluding the other party from the decision-making process or refusing their request to roll their money into another superannuation fund.

This no-punishment rule applies even if the two parties are involved in legal proceedings.

Click here for more information.

Financial consequences

Superannuation funds often charge a fee for splitting accounts after a relationship breakdown.

Splitting superannuation can also impact the size of your total super balance and how your super is taxed.

Click here for more information.

Details

Superannuation is designed to provide Australians with money in their retirement. The government has strict rules around when people can take that money out of their fund because it wants to prevent people eroding their savings before they reach retirement.

As a general rule, you can only take money out of your superannuation fund when you reach:

Age 65
Your ‘preservation age’ and retire
Your preservation age and begin a ‘transition to retirement’ while still working

That said, you can take money out of your superannuation fund early based on one of these seven special conditions:

Compassionate grounds
Severe financial hardship
Temporary incapacity
Permanent incapacity
Superannuation inheritance
Superannuation balance under $200
Temporary resident departing Australia

Details

According to the Association of Superannuation Funds of Australia (ASFA), here is how much you would be able to spend per week during retirement:

Lifestyle	Singles	Couples
Modest	$465	$668
Comfortable	$837	$1,150

Here is the superannuation balance you would need to fund that level of spending:

Lifestyle	Singles	Couples
Modest	$50,000	$35,000
Comfortable	$545,000	$640,000

These figures come from the March 2017 edition of the ASFA Retirement Standard.

The reason people on modest lifestyles need so much less money is because they qualify for a far bigger age pension.

Here is how ASFA defines retirement lifestyles:

Category	Comfortable	Modest	Age pension
Holidays	One annual holiday in Australia	One or two short breaks in Australia near where you live	Shorter breaks or day trips in your own city
Eating out	Regularly eat out at restaurants. Good range and quality of food	Infrequently eat out at restaurants. Cheaper and less food	Only club special meals or inexpensive takeaway
Car	Owning a reasonable car	Owning an older, less reliable car	No car – or, if you do, a struggle to afford the upkeep
Alcohol	Bottled wine	Casked wine	Homebrew beer or no alcohol
Clothing	Good clothes	Reasonable clothes	Basic clothes
Hair	Regular haircuts at a good hairdresser	Regular haircuts at a basic salon	Less frequent haircuts or getting a friend to do it
Leisure	A range of regular leisure activities	One paid leisure activity, infrequently	Free or low-cost leisure activities
Electronics	A range of electronic equipment	Not much scope to run an air conditioner	Less heating in winter
Maintenance	Replace kitchen and bathroom over 20 years	No budget for home improvements. Can do repairs, but can’t replace kitchen or bathroom	No budget to fix home problems like a leaky roof
Insurance	Private health insurance	Private health insurance	No private health insurance

Details

The amount of superannuation you need to have at retirement is based on how much money you would expect to spend each week during your retirement. That, in turn, depends on whether you expect to lead a modest retirement or a comfortable retirement.

The Association of Superannuation Funds of Australia (ASFA) estimates you would need the following amount per week:

Lifestyle	Singles	Couples
Modest	$465	$668
Comfortable	$837	$1,150

Here is the superannuation balance you would need to fund that level of spending:

Lifestyle	Singles	Couples
Modest	$50,000	$35,000
Comfortable	$545,000	$640,000

These figures come from the March 2017 edition of the ASFA Retirement Standard.

The reason people on modest lifestyles need so much less money is because they qualify for a far bigger age pension.

Here is how ASFA defines retirement lifestyles:

Category	Comfortable	Modest	Age pension
Holidays	One annual holiday in Australia	One or two short breaks in Australia near where you live	Shorter breaks or day trips in your own city
Eating out	Regularly eat out at restaurants. Good range and quality of food	Infrequently eat out at restaurants. Cheaper and less food	Only club special meals or inexpensive takeaway
Car	Owning a reasonable car	Owning an older, less reliable car	No car – or, if you do, a struggle to afford the upkeep
Alcohol	Bottled wine	Casked wine	Homebrew beer or no alcohol
Clothing	Good clothes	Reasonable clothes	Basic clothes
Hair	Regular haircuts at a good hairdresser	Regular haircuts at a basic salon	Less frequent haircuts or getting a friend to do it
Leisure	A range of regular leisure activities	One paid leisure activity, infrequently	Free or low-cost leisure activities
Electronics	A range of electronic equipment	Not much scope to run an air conditioner	Less heating in winter
Maintenance	Replace kitchen and bathroom over 20 years	No budget for home improvements. Can do repairs, but can’t replace kitchen or bathroom	No budget to fix home problems like a leaky roof
Insurance	Private health insurance	Private health insurance	No private health insurance

Details

You can withdraw your superannuation (or at least some of it) when you reach ‘preservation age’. The preservation age is based on date of birth. Here are the six different categories:

Date of birth	Preservation age
Before 1 July 1960	55
1 July 1960 – 30 June 1961	56
1 July 1961 – 30 June 1962	57
1 July 1962 – 30 June 1963	58
1 July 1963 – 30 June 1964	59
From 1 July 1964	60

When you reach preservation age, you can withdraw all your superannuation if you’re retired. If you’re still working, you can begin a ‘transition to retirement’, which allows you to withdraw 10 per cent of their superannuation each financial year.

You can also withdraw all your superannuation once you reach 65 years.

Details

You can withdraw your superannuation when you meet the ‘conditions of release’. The conditions of release say you can claim your super when you reach:

Age 65
Your ‘preservation age’ and retire
Your preservation age and begin a ‘transition to retirement’ while still working

The preservation age – which is different to the pension age – is based on date of birth. Here are the six different categories:

Date of birth	Preservation age
Before 1 July 1960	55
1 July 1960 – 30 June 1961	56
1 July 1961 – 30 June 1962	57
1 July 1962 – 30 June 1963	58
1 July 1963 – 30 June 1964	59
From 1 July 1964	60

A transition to retirement allows you to continue working while accessing up to 10 per cent of the money in your superannuation account at the start of each financial year.

There are also seven special circumstances under which you can claim your superannuation:

Compassionate grounds
Severe financial hardship
Temporary incapacity
Permanent incapacity
Superannuation inheritance
Superannuation balance under $200
Temporary resident departing Australia

Details

Opening a superannuation account is simple. When you start a job, your employer will give you what’s called a ‘superannuation standard choice form’. Here’s what you need to complete the form:

The name of your preferred superannuation fund
The fund’s address
The fund’s Australian business number (ABN)
The fund’s superannuation product identification number (SPIN)
The fund’s phone number
A letter from the fund trustee confirming that the fund is a complying fund; or written evidence from the fund stating it will accept contributions from your new employer; or details about how your employer can make contributions to the fund

You might want to provide your tax file number as well – while it’s not a legal obligation, it will ensure your contributions will be taxed at the (lower) superannuation rate.

Details

Superannuation is paid by employers to employees, at least once every three months. The ‘superannuation guarantee’ is currently 9.5 per cent – which means that your employer must pay you superannuation equivalent to 9.5 per cent of your salary. The guarantee is scheduled to rise to 10.0 per cent in 2021-22, 10.5 per cent in 2022-23, 11.0 per cent in 2023-24, 11.5 per cent in 2024-25 and 12.0 per cent in 2025-26.

Superannuation is generally taxed at 15 per cent. However, if you earn less than $37,000, you will be automatically reimbursed up to $500 of the tax you paid. Also, if your income plus concessional superannuation contributions exceed $250,000, you will also be charged Division 293 tax. This is an extra 15 per cent tax on your concessional contributions or the amount above $250,000 – whichever is lesser.

You can withdraw your superannuation when you meet the ‘conditions of release’. The conditions of release say you can claim your super when you reach:

Age 65
Your ‘preservation age’ and retire
Your preservation age and begin a ‘transition to retirement’ while still working

Details

When you start a job, your employer will give you what’s called a ‘superannuation standard choice form’. Here’s what you need to complete the form:

The name of your preferred superannuation fund
The fund’s address
The fund’s Australian business number (ABN)
The fund’s superannuation product identification number (SPIN)
The fund’s phone number
A letter from the fund trustee confirming that the fund is a complying fund; or written evidence from the fund stating it will accept contributions from your new employer; or details about how your employer can make contributions to the fund

You should also provide your tax file number – while it’s not a legal obligation, it will ensure your contributions will be taxed at the (lower) superannuation rate.

Details

The amount of superannuation you should have at age 40 is based on how much money you need to have at retirement. That, in turn, is based on how much money you expect to spend each week during your retirement. That, in turn, depends on whether you expect to lead a modest retirement or a comfortable retirement.

The Association of Superannuation Funds of Australia (ASFA) estimates you would need the following amount per week:

Lifestyle	Singles	Couples
Modest	$465	$668
Comfortable	$837	$1,150

Here is the superannuation balance you would need to fund that level of spending:

Lifestyle	Singles	Couples
Modest	$50,000	$35,000
Comfortable	$545,000	$640,000

These figures come from the March 2017 edition of the ASFA Retirement Standard.

The reason people on modest lifestyles need so much less money is because they qualify for a far bigger age pension.

Here is how ASFA defines retirement lifestyles:

Category	Comfortable	Modest	Age pension
Holidays	One annual holiday in Australia	One or two short breaks in Australia near where you live	Shorter breaks or day trips in your own city
Eating out	Regularly eat out at restaurants. Good range and quality of food	Infrequently eat out at restaurants. Cheaper and less food	Only club special meals or inexpensive takeaway
Car	Owning a reasonable car	Owning an older, less reliable car	No car – or, if you do, a struggle to afford the upkeep
Alcohol	Bottled wine	Casked wine	Homebrew beer or no alcohol
Clothing	Good clothes	Reasonable clothes	Basic clothes
Hair	Regular haircuts at a good hairdresser	Regular haircuts at a basic salon	Less frequent haircuts or getting a friend to do it
Leisure	A range of regular leisure activities	One paid leisure activity, infrequently	Free or low-cost leisure activities
Electronics	A range of electronic equipment	Not much scope to run an air conditioner	Less heating in winter
Maintenance	Replace kitchen and bathroom over 20 years	No budget for home improvements. Can do repairs, but can’t replace kitchen or bathroom	No budget to fix home problems like a leaky roof
Insurance	Private health insurance	Private health insurance	No private health insurance

Details

Compare the best superannuation funds^

QSuper Lifetime

Today's top superannuation products

AustralianSuper

QSuper Lifetime

Virgin Money Super

VicSuper Growth (MySuper)

QSuper Lifetime

Find and compare some of the best Australian super funds

The latest in superannuation news

Australian growth super funds see best returns in seven years

What is an SMSF and should you get one?

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