5 reasons to consider switching super funds in 2025

There's no time like the present to take stock of your super to see if it's still meeting your retirement goals.

Taking a closer look at your super now can be a way to set yourself up for financial success later.

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1. Reduce your fees

When you're switching super funds, fees aren't the only factor to consider – but they can make a significant difference.

Typically, paying more than 1.5-2% of your super balance in fees is considered "high".

So if you're currently paying more than this and feel you're not getting the level of service from your super that you'd like, it might be worth looking to change.

SuperRatings reports that Superhero Super offers lower fees and costs than 75% of super funds¹.

Discover Superhero Super

Even a difference of $100 a year in fees can have a significant effect on your super balance over the course of decades.

Lower fees could mean thousands or tens of thousands of dollars more when you retire, depending on your super balance and other factors.

2. Use performance data to find a stronger fund

When you're switching your super fund, it's important to remember that past results aren't always indicative of future performance.

💡However, it is worth looking for a super fund with a strong history of high returns💡

You can also see an overview of Superhero Super's performance below, too.

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Last 1 year performance (p.a.) (low-high)Last 1 year performance (p.a.) (high-low)Last 3 year performance (p.a.) (low-high)Last 3 year performance (p.a.) (high-low)Last 5 year performance (p.a.) (low-high)Last 5 year performance (p.a.) (high-low)Last 10 year performance (p.a.) (low-high)Last 10 year performance (p.a.) (high-low)Fees on $50k balance (p.a.) (low-high)Fees on $50k balance (p.a.) (high-low)

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.)
Superhero Super - International Shares Higher risk	Last 1 year performance (p.a.) +27.19%	Last 3 year performance (p.a.) +10.68%	Last 5 year performance (p.a.) +12.78%	Last 10 year performance (p.a.) +11.68%	Fees on $50k balance (p.a.) $382	Go to siteMore Info Compare
Superhero Super - Growth	Last 1 year performance (p.a.) +12.67%	Last 3 year performance (p.a.) +4.73%	Last 5 year performance (p.a.) +6.36%	Last 10 year performance (p.a.) +7.14%	Fees on $50k balance (p.a.) $397	Go to siteMore Info Compare
Superhero Super - Moderate	Last 1 year performance (p.a.) +8.98%	Last 3 year performance (p.a.) +3.4%	Last 5 year performance (p.a.) +4.77%	Last 10 year performance (p.a.) +5.74%	Fees on $50k balance (p.a.) $397	Go to siteMore Info Compare
Superhero Super - Australian Shares Higher risk	Last 1 year performance (p.a.) +11.04%	Last 3 year performance (p.a.) +7.62%	Last 5 year performance (p.a.) +8.13%	Last 10 year performance (p.a.) +7.95%	Fees on $50k balance (p.a.) $387	Go to siteMore Info Compare
Superhero Super - High Growth 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 Compare
Superhero Super - Conservative	Last 1 year performance (p.a.) +6.29%	Last 3 year performance (p.a.) +2.53%	Last 5 year performance (p.a.) +3.3%	Last 10 year performance (p.a.) +4.29%	Fees on $50k balance (p.a.) $397	Go to siteMore Info Compare

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3. Access investment options to suit your retirement goals

One of the big reasons people switch super funds is to access a broader range of investment options, such as international shares.

Superhero Super allows you to tackle your investments in four different ways.

Option 1: Diversified investments

This option allows you to choose from a pre-built diversified mix of investment options.

• High Growth
• Growth
• Moderate
• Conservative

You're able to select a growth or defence-oriented strategy that matches with your comfort level of risk.

💡Diversification is often recommended for super investments. This is because it allows you to balance your assets as market cycles fluctuate.💡

Option 2: Single Sector investments

Alternatively, you may want to focus on a single sector as your focus. Choices include:

• Australian Shares
• International Shares
• Australian Listed Property
• Australian Fixed Interest
• International Fixed Interest
• Cash

Option 3: Thematics

Striking a blend between diversification and single sector, thematics allows you to choose from a range of different themes for your super investment.

• US Tech Giants
• Asia Tech Tigers
• Global Healthcare Leaders
• Global Sustainability Leaders (unhedged)
• Global Sustainability Leaders (hedged)
• Australian Sustainability Leaders
• Gold

Option 4: Direct

Direct investing gives you more flexibility. You're able to invest up to 75% of your super into ASX300 shares, select ASX-listed ETFs, listed investment companies, hybrids and cash, working to your preferred ratios.

It's important to note that Holding limits apply. While you're a Superhero Super customer, you have to maintain a minimum balance of 25% across the Diversified, and/or Single Sector investment options.

You can see the complete rundown of investment options on Superhero Super's website.

See investment options

4. Get the protection you need with the right insurance

As well as providing savings for your retirement, your super fund also includes insurance features.

Switching your super fund can allow you to access a broader range of insurance options.

For example, Superhero Super account holders are automatically enrolled in the Death and Total Permanent Disability (TPD) cover.

This type of default cover means that your super account and a preset insured amount will be paid to you or your benefactors as a lump sum in the event of a Total or Permanent disability, terminal illness diagnosis or death.

The specific amount will vary, according to your age.

You can also apply to increase the amount of cover to larger amounts, with attendant adjustments to fees.

There are some prerequisites, including:

• You must be a member of Superhero Super
• You must have enough funds in your account to cover the monthly premiums
• You must be aged between 15 and 64
• You must be an Australian resident
• You must have made an initial contribution to your Superhero Super account
• You must not work in an excluded occupation
• You must not be applying for, be entitled to, or have been paid TPD or terminal illness benefits from any super fund or life insurance policy.

Choosing the right insurance for your circumstances can allow for greater peace of mind for you and your family.

You're also able to apply for income protection insurance separately, which can be useful if you're injured and unable to work for a period of time.

Income protection insurance provides you with a set percentage of your monthly income for a predetermined length of time, in the event of a Total Disability or Partial
Disability as a result of illness or injury.

You're able to select your preferred level of cover. This can be up to 75% of your income, with a maximum of $30,000/month.

Superhero's Super Insurance Guide contains a more detailed rundown of the insurance options available to Superhero Super members.²

5. Easy digital access

In a digital world, it's essential to have access to your super at all times.

💡Looking at the digital access your super company offers is essential before you make a switch.💡

The Superhero Super App is an intuitive, easy-to-use app that allows you to easily manage your superannuation at any time of the day or night.

Additionally, if you have a Superhero trading account, you can also easily manage your assets from the same app, too.

Learn more about switching to Superhero Super

• More information about Superhero Super

  ¹SuperRatings undertook a fee analysis of Superhero Super's Growth and MySuper Growth investment options against a broad range of other superannuation funds tracked by and derived from SuperRatings median data for the relevant 60%-76% growth asset allocation range. The SuperRatings data used the latest available information as at 31 March 2024. The comparison was based on the total fees and costs of Superhero Super Growth and Superhero MySuper Growth, assuming a $5k, $50k, $100k and $250k account balance effective from 15 May 2024. Superhero Growth was in the top quartile for low fees and costs across all account balances used in the comparison. Superhero Growth fees and costs were 28% lower compared to the median fund for a 50k balance. Refer to the Superhero Super PDS for more information on investment options.

  ²Eligibility criteria applies to insurance products. For more information please refer to our insurance guides.