Best super funds Australia – 5 expert picks

Best super funds: Finder's 5 picks

Using data from the Finder Awards, we have the following winners based on different super fund categories:

Best Balanced Super Fund: UniSuper - Sustainable Balanced

• This fund has delivered an average annual return of 7.79% over the last 10 years
• It has low fees of just $316 for a $50,000 balance.
• It selects investments based on a range of ethical criteria that limits investment in fossil fuel companies, gambling, alcohol and tobacco and weapon manufacturing.

Best Super Fund Provider: Aware Super

• Aware Super combines strong fund performance across the majority of its investment options with great customer satisfaction and trustworthiness.
• Its Balanced Socially Conscious option has delivered an average annual return of 7.81% over the last 10 years.
• The Balanced Socially Conscious option has low fees of just $322 on a $50,000 balance.

Best Shares Super Fund: Australian Retirement Trust - International Shares Index (unhedged)

• This fund has achieved strong returns of 11.92% p.a. over the last 10 years.
• It invests 100% in international shares, making it a very high growth option.
• It has very low fees of just $192 p.a. based on a $50,000 balance.

Best Ethical Super Fund: Australian Ethical Super - Growth

• This fund won the Finder Green Awards super fund of the year in 2020, 2021, 2022 and 2023.
• Australian Ethical is one of just a handful of super funds to be certified by the Responsible Investment Association Australasia.
• It excludes all fossil fuel investments and most mining companies, while actively investing in renewable energy.
• It's Growth product has returned 7.8% p.a. for the last 10 years.

Best Low Fee Super Fund: Hostplus Indexed Balanced

• Hostplus Indexed Balanced has very low fees of $135.26 on a $50,000 balance. That's a fee of just 0.29% p.a!
• It also has strong performance returns of 7.82% p.a. over the last 10 years.
• It has a combination of some of the lowest fees and strongest performance returns of all Balanced funds in our panel.

What's the highest-performing super fund?

These are the 10 Balanced super funds with the best returns over the past decade, according to Super Ratings data at December 2024.

Top 5 super funds for customer satisfaction

The Finder Customer Satisfaction Awards recognises the best performing super fund for customer satisfaction. It's an award that is decided by the only votes that really matter – yours. We asked customers of major super funds to tell us about their experiences. Now we can reveal what they said.

Provider	Overall satisfaction	Trustworthy/reliable
	★★★★★ 4.46/5	100%
	★★★★★ 4.46/5	94%
	★★★★★ 4.28/5	94%
	★★★★★ 4.26/5	100%
	★★★★★ 4.15/5	91%

Why it's important to make sure you're with a great super fund

Each year the regulator APRA analyses the market and identifies the worst super funds that are underperforming for members. APRA tested 58 MySuper products in 2023 which held $907 billion in assets, and the test showed an average performance of 0.41% above the benchmark.

APRA found that 80% of members' MySuper accounts perform above the benchmark, which is great if you are in that cohort. But for the remaining 20% the products underperformed by >0.50%. While only a small amount, you don't want your super to underperform.

You can use Finder's superannuation calculator to see an estimate of your retirement balance based on your current fund, versus if you switched to a different fund with better returns or lower fees.

How to pick the best super fund

Choosing the right super fund is crucial for your financial future. While the top-performing funds are a great start, they may not always align with your specific needs. If you're looking elsewhere, consider these key factors:

• High long-term returns. Look for funds with a consistent track record of strong returns over the long term (funds with 10-year returns above 7% p.a. are among the top performers).
• Low fees. Higher fees can significantly eat into your retirement savings. Opt for funds with lower fees without compromising on performance (aim for annual fees less than 1.5% of your super balance).
• Investment strategy aligns with your age. Younger investors might prefer high-growth options, whereas those nearing retirement may prioritise stability and have a shorter investing time horizon for a portion of their balance. If needing access to funds in the next 3-5 years, it's important to be invested in a lower risk option.
• Access to insurance cover. Does the fund offers members cost-effective life, TPD and salary continuance policies?

"I only moved to Australia 6 years ago so I'm playing catch up with my super. For me, low fees are important and to know my money isn't being invested in something that's destroying the planet. I also cancelled the life insurance inside my super because the premiums increase every year."

Gary Ross Hunter

Journalist

FAQs about picking the best super funds in Australia

• What's the best ethical super fund?

  Australian Ethical Super was named the best ethical super fund in the 2020, 2021, 2022 and 2023 Finder Green Awards. If you're considering an ethical super fund, it's still important to make sure the fund has strong long-term performance and competitive fees, otherwise your retirement balance will suffer.

• What's the best industry super fund?

  Some of the best-performing industry super funds include Hostplus, AustralianSuper, Australian Retirement Trust, UniSuper and Cbus.

• What's the best super fund for someone starting their first job?

  If you're starting work and looking for a super fund, look for a fund with low fees and high long-term returns. Your balance will start off small, so you don't want this already small amount of money eaten away by excessive fees.

• What types of super funds can I choose from?

  There are 2 main types of super funds: industry super funds and retail super funds. Both funds invest your money in similar ways, but they are different in the way they're owned and managed. Industry super funds are independently run and owned by members, while retail funds are owned by major banks, insurance companies or other financial organisations. Industry super funds typically have lower fees.

• Should I change my super to an SMSF?

  SMSFs are generally only recommended if you've got a large super balance to invest, usually $200,000 or more. This is because SMSFs can be quite expensive to run and maintain, especially compared to a typical super fund. If you've got a large balance to invest, investment expertise and experience and an understanding of the legal framework, it could be something worth looking into. But keep in mind there are a lot of legal requirements you need to keep up with, as well as annual fees and charges.

• How do I change super funds?

  Once you've found the new fund you want to join, complete the online application form to become a member. Throughout this process you can elect to have your previous super fund transfer your balance over into your new fund. Most of the work is done for you by your new fund. For a more detailed guide on how to do this, take a look at our article on how to change super funds in 4 steps.

• Can I have multiple super funds

  Yes, you can have multiple super funds, but it's not a good idea to do so. If you had more than one fund, you'd be paying multiple sets of fees which would eat into your retirement balance. If you've got more than one fund open in your name it's a good idea to consolidate them.

To make sure you get accurate and helpful information, this guide has been edited by Richard Whitten and reviewed by Karen Eley, a member of Finder's Editorial Review Board.

Written by

Alison Banney

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 638 Finder guides across topics including:

• Superannuation
• Savings accounts, bank accounts and term deposits
• Budgeting and money-saving hacks
• Managing the cost of living