How to change super funds in 4 steps

You can switch super funds without even getting off the couch - here's how.

Key takeaways

  • Once you've chosen a new super fund, switching is a quick process that can be done completely online.
  • Your new super fund will do most of the heavy lifting for you, all you need to do is fill out a form.
  • Don't forget to update your employer with your new fund details.

Step 1: Choose a new super fund

Look for a combination of low annual fees (ideally less then 1% of your balance), high long-term returns (look at 10-year performance) and an investment strategy you understand and agree with. If you'd like a bit of help choosing, take a look at our best super fund picks.

Step 2: Join the new super fund

Download the new membership form from the fund's website, which will ask you for the following details:

  • Your personal details. This includes your full name, residential address, contact information and Tax File Number.
  • Your employer's information. This includes the business name, address and ABN.
  • The insurance cover you'd like to include. Most funds will include automatic default death and TPD cover, but you can choose to add income protection cover, or you can opt out of all cover if you don't think you'll need it.
  • Your nominated beneficiaries. This is who your super will go to in the event of your death.

Once you've joined the fund as a member you'll be able to update your investment option, if you don't want to stay with the default option. You can switch investment options at any time.

Alison Banney's headshot

"Before you switch funds, check if you've got any additional super funds open in your name you might have forgotten about. Just log into your myGov account online and click on the "Super" tab to see a list of funds in your name. You may choose to keep one of these funds instead of opening a new one."

Editorial Manager, Money

Step 3: Transfer your existing super

Once you've completed the new membership form, there will be another form asking if you have any super you want to transfer over. You'll be asked to provide the following details:

  • Your existing fund's name and contact number
  • The fund's ABN and USI numbers (you'll find these on your fund's website or on your last account statement)
  • Your membership number and/or account number

The new membership form will have the details of where to send the completed form. Once you've submitted this, your new super fund will take care of the rest for you. If you've got more than 1 fund you'll need to submit separate forms for each.

Step 4: Tell your employer

You'll find another form (yes, another form) on your new fund's website called "Employee super choice form" or "Pay my super into XYZ Fund". It'll be pre-filled with the details that your employer needs. Add your name and membership number, and give this form to your employer so they can start paying your super into your new fund. Don't worry, you can download and send this via email - no need to print off a paper copy.

Ready to compare? Choose a new super fund.

1 - 10 of 407
Name Last 1 year performance (p.a.) Last 3 year performance (p.a.) Last 5 year performance (p.a.) Last 10 year performance (p.a.) Fees on $50k balance (p.a.)
Australian Ethical Super Australian Shares
Australian Ethical Super logo
Green Company
EthicalHigher risk
Last 1 year performance (p.a.)
+15.13%
Last 3 year performance (p.a.)
+2.44%
Last 5 year performance (p.a.)
+7.98%
Last 10 year performance (p.a.)
+10.1%
Fees on $50k balance (p.a.)
$778
Go to siteMore Info
Aware Super Future Saver - MySuper Lifecycle High Growth
Aware Super logo
Industry fundLifestageHigher risk
Last 1 year performance (p.a.)
+14.16%
Last 3 year performance (p.a.)
+5.84%
Last 5 year performance (p.a.)
+8.4%
Last 10 year performance (p.a.)
+8.98%
Fees on $50k balance (p.a.)
$457
Go to siteMore Info
A lifecycle super fund weighted heavily towards high growth assets, targeted to people 55 and under.
UniSuper - High Growth
UniSuper logo
Best Rated Brand
Industry fundHigher risk
Last 1 year performance (p.a.)
+16.34%
Last 3 year performance (p.a.)
+6.2%
Last 5 year performance (p.a.)
+9.09%
Last 10 year performance (p.a.)
+10.04%
Fees on $50k balance (p.a.)
$451
Go to siteMore Info
This fund targets high growth over a long term horizon by investing in higher growth, higher risk assets such as Australian and international shares.
Hostplus Australian Shares
Hostplus logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+11.58%
Last 3 year performance (p.a.)
+6.97%
Last 5 year performance (p.a.)
+8.5%
Last 10 year performance (p.a.)
+9.3%
Fees on $50k balance (p.a.)
$350
Go to siteMore Info
This is a high-growth product with low diversification that invests predominantly in Australian listed shares and aims for high returns over the long term.
Australian Retirement Trust - High Growth
Australian Retirement Trust logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+13.73%
Last 3 year performance (p.a.)
+7.51%
Last 5 year performance (p.a.)
+9.19%
Last 10 year performance (p.a.)
+9.58%
Fees on $50k balance (p.a.)
$507
Go to siteMore Info
Vanguard Super SaveSmart - High Growth
Vanguard logo
Higher risk
Last 1 year performance (p.a.)
+16.32%
Last 3 year performance (p.a.)
N/A
Last 5 year performance (p.a.)
N/A
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$270
Go to siteMore Info
This fund aims for higher growth over the long term. It invests heavily in Australian and international shares, including a small amount of exposure to emerging markets shares.
Virgin Money Super - LifeStage Tracker
Virgin Money Super logo
Lifestage
Last 1 year performance (p.a.)
+15.61%
Last 3 year performance (p.a.)
+6.76%
Last 5 year performance (p.a.)
+8.11%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$363
Go to siteMore Info
Your fund's asset allocations adjust automatically as you age, offering you more growth opportunity when you're younger and lower-risk investments as you approach retirement.
HESTA High Growth
HESTA logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+14.18%
Last 3 year performance (p.a.)
+7.34%
Last 5 year performance (p.a.)
+9.24%
Last 10 year performance (p.a.)
+9.31%
Fees on $50k balance (p.a.)
$537
Go to siteMore Info
Spaceship - GrowthX
Spaceship logo
Higher risk
Last 1 year performance (p.a.)
+25.13%
Last 3 year performance (p.a.)
+8.87%
Last 5 year performance (p.a.)
+11.83%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$572
Go to siteMore Info
A high growth super fund with a big focus on international shares.
Superhero Super - High Growth
Superhero Super logo
Higher risk
Last 1 year performance (p.a.)
+15.31%
Last 3 year performance (p.a.)
+7.22%
Last 5 year performance (p.a.)
+8.69%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$397
Go to siteMore Info
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Showing 10 of 48 results

The information in this table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.

*Past performance data and fee data is for the period ending December 2024

Pros and cons of switching super funds

Pros

  • Quick and easy. It's a relatively straightforward process to change funds.
  • Potential to save. If you switch to a fund with lower fees and better long-term performance you have the potential to save thousands of dollars for your retirement.
  • Find lost super. In the switching process you might find some old super funds you can consolidate to save on fees. Research has found around a third of super accounts are unintended multiple accounts.

Cons

  • Some paperwork. No-one enjoys paperwork, and there are a few forms to fill out.
  • Change in insurance. You'll lose your previous insurance cover and the it may be difficult to get the same level of cover with a new fund.
  • Switch regret. If you're switching funds based off a single years' performance returns you may end up regretting your decision the following year. Make sure to only look at long-term performance when making a decision to switch.

Finder survey: Which super fund are Australians with?

Response
AustralianSuper23.92%
Other23.82%
Australian Retirement Trust8.17%
Retail Employees Superannuation Trust7.48%
HESTA6.89%
HOSTPLUS Superannuation Fund5.81%
AMP Super Fund5.22%
Aware Super5.22%
Unisuper3.74%
Colonial First State FirstChoice Superannuation Trust2.85%
MLC Super Fund2.17%
Mercer Super Trust1.48%
Spirit Super1.38%
Care Super0.98%
Construction and Building Unions Superannuation Fund (CBUS)0.69%
Retirement Wrap0.1%
Wealth Personal Superannuation and Pension Fund0.1%
Source: Finder survey by Pure Profile of 1016 Australians, December 2023

The information in this table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.

*Past performance data and fee data is for the period ending December 2024

Frequently asked questions

Ryan is the founder and CEO at Tribeca Financial, a financial advice firm that listens, learns and then gets you on track. He's an accomplished financial advisor and financial wellbeing coach with over 15 years of experience.

Ryan Watson's headshot
To make sure you get accurate and helpful information, this guide has been reviewed by Ryan Watson, a member of Finder's Editorial Review Board.
Alison Banney's headshot
Written by

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full bio

Alison's expertise
Alison has written 631 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living

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2 Responses

    Default Gravatar
    KevAugust 15, 2024

    I am retired from the workforce and receive a part age pension from Centrelink, can I still move my existing super to a better performing provider?

      AvatarFinder
      SarahSeptember 13, 2024Finder

      Hi Kev,

      Yes, you can think about your superannuation fund as if it’s a bank account – you are a customer and you can move your fund to a different provider whenever you like.

      Hope this helps!

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