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Compare industry superannuation funds
Learn how you can start planning for your retirement. RateCity compares superannuation products from 100 Australian Superannuation funds. Compare industry super fund fees, performance and more.
Find and compare industry super funds
Product | Past 5-year return 6.43% | Admin fee $0 | Company ![]() | Calc fees on 50k $370 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() ![]() ![]() ![]() ![]() | Go to site | Enjoy the benefits of an investment strategy based on your age and account balance. More details | Highlighted |
Past 5-year return 6.91% | Admin fee $78 | Company ![]() | Calc fees on 50k $463 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() ![]() ![]() | Go to site | A balanced super fund intended to help you manage your super from your first day of work to retirement. Plus, you may be eligible for a Retirement Bonus of up to $4800. More details | ||
Past 5-year return 5.50% | Admin fee $92 | Company ![]() | Calc fees on 50k $497 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | Open to all industries, this public offer fund has strong investment returns, low fees and flexible insurance. More details | ||
Past 5-year return 7.08% | Admin fee $52 | Company ![]() | Calc fees on 50k $497 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() ![]() ![]() ![]() | Go to site | A simple, low-cost super option for anyone who doesn't want to choose a specific investment option. More details | ||
Product | Past 5-year return 6.66% | Admin fee $78 | Company ![]() | Calc fees on 50k $558 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() ![]() ![]() ![]() | Go to site | More details | |
Past 5-year return 6.74% | Admin fee $97 | Company ![]() | Calc fees on 50k $622 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() ![]() ![]() | Go to site | More details | ||
Product | Past 5-year return 6.13% | Admin fee $68 | Company ![]() | Calc fees on 50k $628 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details | |
Product | Past 5-year return 6.73% | Admin fee $65 | Company ![]() | Calc fees on 50k $505 | Features Advisory services Death insurance Income protection Online access Term deposits Variety of options | SuperRatings awards ![]() | Go to site | More details |
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Frequently asked questions
What is a superannuation fund?
A superannuation fund is an institution that is legally allowed to hold and invest your superannuation. There are more than 200 different superannuation funds in Australia. They come in five different types:
- Retail funds
- Industry funds
- Public sector funds
- Corporate funds
- Self-managed super funds
Retail funds are usually run by banks or investment companies.
Industry funds were originally designed for workers from a particular industry, but are now open to anyone.
Public sector funds were originally designed for people working for federal or state government departments. Most are still reserved for government employees.
Corporate funds are arranged by employers for their employees.
Self-managed super funds are private superannuation funds that allow people to directly invest their money.
How many superannuation funds are there?
There are more than 200 different superannuation funds.
What is superannuation?
Superannuation is money set aside for your retirement. This money is automatically paid into your superannuation fund by your employer.
What is the difference between accumulation and defined benefit funds?
A majority of Australians are in accumulation funds. These funds grow according to the amount of money invested and the return on that money.
A minority of Australians are in defined benefit funds – many of which are now closed to new members. These funds give payouts according to specific rules, such as how long the worker has been with their employer and their final salary before they retired.
How can I increase my superannuation?
You can increase your superannuation through a ‘salary sacrifice’. This is where your employer takes part of your pre-tax salary and pays it directly into your superannuation account. Like regular superannuation contributions, salary sacrifices are taxed at 15 per cent when they are paid into the fund.
How can I keep track of my superannuation?
Most funds will allow you to access your superannuation account online. Another option is to manage your superannuation through myGov, which is a government portal through which you can access a range of services, including Medicare, Centrelink, aged care and child support.
What are ethical investment superannuation funds?
Ethical investment funds limit themselves to making ‘ethical’ investments (which each fund defines according to its own principles). For example, ethical funds might avoid investing in companies or industries that are linked to human suffering or environmental damage.
What are personal contributions?
A personal contribution is when you make an extra payment into your superannuation account. The difference between personal contributions and salary sacrifices is that the former comes out of your after-tax income, while the latter comes out of your pre-tax income.
What is the superannuation rate?
The superannuation rate, or guarantee rate, is the percentage of your salary that your employer must pay into your superannuation fund. The superannuation guarantee has been set at 9.5 per cent since the 2014-15 financial year. It 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.
Am I entitled to superannuation if I'm a contractor?
As a contractor, you’re entitled to superannuation if:
- The contract is mainly for your labour
- You’re over 18 and earn more than $450 before tax in a calendar month
- You’re under 18, you work more than 30 hours per week and you earn more than $450 before tax in a calendar month
Please note that you’re entitled to superannuation even if you have an Australian business number (ABN).
How does the age pension work?
Most Australians who are of retirement age can qualify for the age pension. However, depending on the size of your assets and post-retirement income, you might be entitled to only a reduced pension. In some instances, you might not be entitled to any pension payments.
What happens if my employer falls behind on my superannuation payments?
The Australian Taxation Office will investigate if your employer falls behind on your superannuation payments or doesn’t pay at all. You can report your employer with this online tool.
How do you set up superannuation?
Before you set up a superannuation account, you’ll need to check if you’re allowed to choose your own fund. Most Australians can, but this option doesn’t apply to some workers who are covered by industrial agreements or who are members of defined benefits funds.
Assuming you are able to choose your own fund, the next step should be research, because there are more than 200 different superannuation funds in Australia.
Once you’ve decided on your preferred superannuation fund, head to that provider’s website, where you should be able to fill in an online application or download the appropriate forms. You’ll need your tax file number (assuming you don’t want to be charged a higher tax rate), your contact details and your employer’s details (if you’re employed).
How much money do you get on the age pension?
Pension payments can be reduced due to the income test and asset test (see ‘What is the age pension’s income test?’ and ‘What is the age pension’s assets test?’).
Here are the maximum fortnightly payments:
Category |
Single |
Couple each |
Couple combined |
Couple apart due to ill health |
Maximum basic rate |
$808.30 |
$609.30 |
$1,218.60 |
$808.30 |
Maximum pension supplement |
$65.90 |
$49.70 |
$99.40 |
$65.90 |
Energy supplement |
$14.10 |
$10.60 |
$21.20 |
$14.10 |
TOTAL |
$888.30 |
$669.60 |
$1,339.20 |
$888.30 |
What superannuation details do I give to my employer?
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.
What is salary sacrificing?
A salary sacrifice is where your employer takes part of your pre-tax salary and pays it directly into your superannuation account. Salary sacrifices come out of your pre-tax income, whereas personal contributions come out of your after-tax income.
How do you access superannuation?
Accessing your superannuation is a simple administrative procedure – you just ask your fund to pay it. You can access your superannuation in three different ways:
- Lump sum
- Account-based pension
- Part lump sum and part account-based pension
However, please note that your superannuation fund will only be able to make a payout if 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 has 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 |
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
How do you create a superannuation account?
Before you create a superannuation account, you’ll need to check if you’re allowed to choose your own fund. Most Australians can, but this option doesn’t apply to some workers who are covered by industrial agreements or who are members of defined benefits funds.
Assuming you are able to choose your own fund, the next step should be research, because there are more than 200 different superannuation funds in Australia.
Once you’ve decided on your preferred superannuation fund, head to that provider’s website, where you should be able to fill in an online application or download the appropriate forms. You’ll need your tax file number (assuming you don’t want to be charged a higher tax rate), your contact details and your employer’s details (if you’re employed).
Can my employer use money from my superannuation account?
No, your employer can’t touch the money that is paid into your superannuation account.
When is superannuation payable?
Employers must pay superannuation at least four times per year. The due dates are 28 January, 28 April, 28 July and 28 October.