Superannuation
Super fund fees and performance, explained properly
Most people find an old super account, see a balance, and have no idea whether the fund holding it is any good. The information to answer that is public and free, it is just buried in regulator spreadsheets. This page explains what the numbers mean, which official tool holds them, and the traps to avoid before you move a single dollar.
General information only. Nothing on this page takes your income, age, health, insurance or tax position into account, so it is not personal financial advice and it is not a recommendation of any fund or product. Super decisions are hard to reverse.
- Past performance is not a reliable indicator of future performance. Returns move every day and a fund near the top of one table can sit near the bottom of the next one.
- Check your insurance first. Life, total and permanent disability and income protection cover inside a super account can end the moment you close or roll over that account, and you may not be able to get it back if your health or job has changed.
- The figures here are a snapshot. They are copied from a published regulator release on a single date. Fees and returns change, funds merge and products close, so always confirm the current numbers with the fund and the official sources before acting.
- Get advice if you are unsure. Speak to a licensed financial adviser and read the product disclosure statement and target market determination before changing, combining or closing any super account.
MySuper products: fees and net returns
Every figure below is copied from APRA 2026 Annual Superannuation Performance Test, Comprehensive Product Performance Package (MySuper), released 28 August 2026. Returns are net of fees and tax over the 10 years to 30 June 2026, or 7 years where a product has a shorter history. Fees are the annual total on a $50,000 balance. Products that change your investment mix as you age are reported by age stage, so those rows show the lowest and highest published figures. This is a record of published data, not a recommendation, and a product suiting one person can be wrong for another.
| Fund and product | Fees on $50,000 | Net return |
|---|---|---|
| Colonial First State FirstChoice Superannuation TrustFirstChoice Employer Super - MySuper | $360 to $3750.72% to 0.75% a year | 4.95% to 9.27%10 year average, by age stage |
| Team Superannuation FundMySuper Lifecycle | $340 to $3700.68% to 0.74% a year | 4.93% to 9.27%10 year average, by age stage |
| Local Authorities Superannuation FundActive Super Lifestage Product | $400 to $4200.80% to 0.84% a year | 4.47% to 9.07%10 year average, by age stage |
| Mercer Super TrustVirgin Money MySuper | $340 to $3550.68% to 0.71% a year | 5.06% to 8.99%10 year average, by age stage |
| Essential SuperEssential Super - MySuper | $355 to $3700.71% to 0.74% a year | 4.92% to 8.96%10 year average, by age stage |
| Mercer Super TrustMercer WGSP MySuper | $345 to $4100.69% to 0.82% a year | 5.66% to 8.88%10 year average, by age stage |
| Guild Retirement FundGuild Super MySuper Lifecycle | $300 to $3900.60% to 0.78% a year | 6.21% to 8.83%10 year average, by age stage |
| HOSTPLUS Superannuation FundHostplus MySuper | $6551.31% a year | 8.70%10 year average |
| AMP Super FundSignatureSuper - AFLPA AFL MySuper | $285 to $3600.57% to 0.72% a year | 5.01% to 8.60%10 year average, by age stage |
| Australian Retirement TrustLifecycle Investment Strategy | $320 to $3650.64% to 0.73% a year | 6.23% to 8.58%10 year average, by age stage |
| Mercer Super TrustMercer SmartPath | $385 to $4500.77% to 0.90% a year | 5.37% to 8.58%10 year average, by age stage |
| Mercer Super TrustMercer Tailored (CRG) MySuper | $360 to $4250.72% to 0.85% a year | 5.30% to 8.49%7 year average, by age stage |
| Retirement Portfolio ServiceANZ Smart Choice Super - My Super - QBE SUPER PLAN | $470 to $5100.94% to 1.02% a year | 4.67% to 8.47%10 year average, by age stage |
| Retirement Portfolio ServiceANZ Smart Choice Super - My Super | $470 to $5100.94% to 1.02% a year | 4.66% to 8.46%10 year average, by age stage |
| Aware SuperAware MySuper (Accumulation) | $400 to $4500.80% to 0.90% a year | 6.22% to 8.44%10 year average, by age stage |
| AMP Super FundSignatureSuper - MySuper | $360 to $4350.72% to 0.87% a year | 4.81% to 8.39%10 year average, by age stage |
| Russell Investments Master TrustMySuper - IQ Super, Resource Super & Nationwide | $4350.87% a year | 6.61% to 8.32%10 year average, by age stage |
| Mercer Super TrustTailored MySuper - Lutheran Superannuation | $3650.73% a year | 8.29%10 year average |
| AMP Super FundSignatureSuper - Water Corp MySuper | $295 to $3700.59% to 0.74% a year | 4.92% to 8.29%7 year average, by age stage |
| AustralianSuperAustralianSuper MySuper | $3450.69% a year | 8.27%10 year average |
| Mercer Super TrustMercer Santos MySuper | $335 to $4000.67% to 0.80% a year | 6.80% to 8.20%10 year average, by age stage |
| Smart Future TrustsmartMonday PRIME - MySuper | $355 to $3750.71% to 0.75% a year | 3.34% to 8.19%10 year average, by age stage |
| Local Authorities Superannuation FundVision MySuper | $3050.61% a year | 8.14%10 year average |
| UnisuperMySuper Offering | $3400.68% a year | 8.11%10 year average |
| HESTAHESTA MySuper | $4050.81% a year | 8.03%10 year average |
| The Bendigo Superannuation PlanBendigo MySuper | $310 to $3200.62% to 0.64% a year | 4.83% to 7.94%10 year average, by age stage |
| legalsuperMySuper | $4700.94% a year | 7.90%10 year average |
| CONSTRUCTION AND BUILDING UNIONS SUPERANNUATION FUNDGrowth (MySuper) | $4550.91% a year | 7.82%10 year average |
| NGS SuperNGS Diversified (MySuper) | $5151.03% a year | 7.72%10 year average |
| MLC Super FundNAB Staff MySuper | $4550.91% a year | 7.64%10 year average |
| Brighter Super FundAccumulation - MySuper | $3650.73% a year | 7.59%10 year average |
| Public Sector Superannuation Accumulation PlanPSSap MySuper | $4550.91% a year | 7.57%10 year average |
| equipsuperEquip Super and Catholic Super - MySuper members | $4100.82% a year | 7.51%10 year average |
| ANZ Australian Staff Superannuation SchemeANZ Staff MySuper | $3150.63% a year | 7.39%10 year average |
| Retail Employees Superannuation TrustMySuper | $4050.81% a year | 7.35%10 year average |
| IOOF Portfolio Service Superannuation FundIOOF MySuper† | $4900.98% a year | 7.33%10 year average |
| CareSuperCareSuper - MySuper | $4700.94% a year | 7.32%10 year average |
| NESS SuperMySuper | $4250.85% a year | 7.31%10 year average |
| Australian Retirement TrustQSuper Lifetime | $250 to $3500.50% to 0.70% a year | 3.71% to 7.29%10 year average, by age stage |
| MLC Super FundMLC MySuper | $490 to $5000.98% to 1.00% a year | 6.64% to 7.29%10 year average, by age stage |
| First SuperBalanced - accumulation | $5601.12% a year | 7.25%10 year average |
| Mercer Super TrustMacquarie Group Superannuation MySuper Product | $3800.76% a year | 7.24%10 year average |
| Australian Meat Industry Superannuation TrustMySuper | $4400.88% a year | 7.14%10 year average |
| Prime SuperMySuper | $5051.01% a year | 7.00%10 year average |
| Australian Ethical Retail Superannuation FundAustralian Ethical Retail Superannuation Fund MySuper | $5951.19% a year | 6.99%10 year average |
| Australian Defence Force Superannuation SchemeADF MySuper | $4550.91% a year | 6.99%7 year average |
| OneSuperSuperhero Super MySuper | $3500.70% a year | 6.79%10 year average |
| Building Unions Superannuation Scheme (Queensland)MySuper | $4700.94% a year | 6.66%10 year average |
| Rei SuperRei Super MySuper | $4800.96% a year | 6.45%10 year average |
| Vanguard SuperVanguard MySuper | $2450.49% a year | Not published |
Source: APRA 2026 Annual Superannuation Performance Test, Comprehensive Product Performance Package (MySuper). Copied across September 2026. Figures change with each APRA release, so check the source before relying on them. APRA material is used under a Creative Commons Attribution licence, copyright Australian Prudential Regulation Authority.
The four things you are actually paying
A fund rarely presents one number. Fees arrive in pieces, and the pieces behave differently depending on how much you have in the account.
Administration fees
Usually a flat weekly or annual dollar amount plus a small percentage of your balance. Flat fees hurt small balances the most, which is exactly why several small forgotten accounts quietly drain themselves.
Investment fees and costs
Charged as a percentage of what you have invested, and higher for options that use property, infrastructure or active managers. This is normally the largest single cost and it is deducted before the return you see is calculated.
Transaction and other costs
Buy and sell spreads, switching fees and advice fees where they apply. Individually small, but they are part of the total that APRA reports and part of what the ATO shows on a $50,000 balance.
Insurance premiums
Not an investment fee, but they come out of the same balance. Premiums on default cover in an account you no longer contribute to can eat the balance down to nothing over a few years.
How to compare two funds without fooling yourself
- 1
Compare net returns, not advertised returns
Net return is after fees and tax. It is the only figure that reflects what you would have kept. APRA and the ATO both publish returns on this basis, which is why their numbers can look lower than a fund's own marketing.
- 2
Use the longest period available
One year of performance tells you almost nothing. Seven and ten year net returns smooth out a good or bad market and show whether a fund is consistently competent.
- 3
Check you are comparing similar investment mixes
A balanced option and a high growth option will always look different, because one holds more shares. Compare a MySuper default against another MySuper default, or a growth option against a growth option.
- 4
Put the fees on your actual balance
The ATO quotes annual fees on $50,000. If your balance is $8,000, a flat administration fee is a far bigger slice of it, and if your balance is $300,000 the percentage based costs dominate instead.
- 5
Read the fund's own PDS
The product disclosure statement sets out the fees, the investment mix and the insurance that actually applies to your account. It is the document that governs your money, not a summary table.
- 6
Price the insurance before you move
Get the cover details of the old account in writing and confirm what the new fund will offer you, in writing, before closing anything. This step costs nothing and is the one that prevents the worst outcomes.
The official tools that hold the numbers
All three are free, and none of them will ask you to pay a percentage of your balance.
ATO YourSuper comparison tool
Ranks MySuper products by net return and shows annual fees on a $50,000 balance. Signed in through myGov it also shows your own accounts.
Open the official toolAPRA superannuation statistics
The regulator's own publications, including quarterly MySuper statistics on fees and net returns.
Open the official toolASIC MoneySmart super calculator
Projects your balance to retirement and lets you change the fee and return assumptions to see the effect.
Open the official toolBefore you consolidate anything
Rolling several accounts into one usually cuts total fees, and it is often the right move. It can also cancel insurance you would struggle to replace, trigger exit costs on some older products, and lose benefits attached to a defined benefit or employer arrangement. Confirm those three things about the account you plan to close before you close it.
Ask for a super reviewCommon questions
Check your insurance before you change anything
Many super accounts include default death, total and permanent disability or income protection cover. Closing or rolling over the account normally cancels that cover, sometimes on the same day. Before you touch an account, log in or call the fund and confirm:
- Whether the account holds any insurance, and the type and amount of cover.
- What the cover costs each year and whether premiums are still being deducted.
- Whether the cover is automatic acceptance or was medically underwritten.
- Whether a new fund would give you the same cover, at what price, and with what health questions.
- Any waiting periods, exclusions or age limits that would apply to replacement cover.
If your health, age or occupation has changed since the cover started, replacing it can be expensive or impossible. Get advice from a licensed financial adviser before you cancel anything.
Important disclaimer
Find Lost Money Australia is an independent information service. The material on this page is general information only. It has been prepared without taking account of your objectives, financial situation or needs, and it is not personal financial advice, a recommendation, an offer, or an opinion about the suitability of any superannuation fund or product for you.
Investment returns are not guaranteed. Past performance is not a reliable indicator of future performance, and the value of super can fall as well as rise. A fund that performed well over the period shown may perform differently in future.
Fees, costs, returns and insurance arrangements change over time and are updated by regulators periodically. The figures shown are taken from the official APRA publication named above, on the date named above, and are provided as a record of published data. Errors, omissions and later revisions are possible. Always confirm current information with the fund and with the official sources before making a decision.
Combining or closing super accounts can cancel insurance cover, trigger exit or transaction costs, alter tax components, and end benefits attached to defined benefit or employer arrangements. Check your insurance and read the product disclosure statement and target market determination for any fund before you act.
To the extent permitted by law, Find Lost Money Australia accepts no liability for any loss arising from reliance on this page or on third party information linked from it. If you need advice about your own situation, speak to a licensed financial adviser or an ATO or ASIC MoneySmart resource.