Finder makes money from featured partners, but editorial opinions are our own.

Best superannuation for under 18s

Starting work? A superannuation guide for teenagers joining the workforce

Key takeaways

  • If you're under 18 years old but work 30+ hours per week you're eligible to get paid super
  • Choosing your super fund provides benefits such as greater control over your investments, potential for better returns and lower fees
  • Choosing the right superannuation fund is a crucial step towards ensuring a comfortable retirement.

There are a few things to organise before you start your first job, and one of them is super. In this guide we'll take you through what you need to know about superannuation including how to pick a fund, how to set it up, what to know about the fees you'll be charged and other important information to know before you start your first job.

Why should you pick a super fund?

In Australia, choosing or not choosing a super fund is a significant financial decision. Most people are eligible for super, and their employers are required to contribute a minimum amount into a super fund.

You have the option to choose which super fund your employer pays your contributions to. If you don't choose, your employer will pay into either your existing super fund (stapled super fund) or their default super fund.

Choosing your super fund provides benefits like:

  • Greater control
  • Potential for better returns
  • Lower fees
  • The ability to tailor insurance and investments.
  • Allows alignment with your ethical values.

In contrast, the default fund may not suit your goals or values. Therefore, this decision is essential for securing your retirement savings.

Who is eligible to get paid super?

Superannuation guarantee contributions are obligatory for nearly all Australian workers, regardless of their employment status.

You are eligible to receive super contributions, if you are:

  • working full-time, part-time, or even casually
  • under 18 years old but work 30+ hours per week
  • receiving a super pension or annuity while actively working, including employees on a transition to retirement arrangement
  • Temporary residents, such as backpackers, also qualify, as do company directors and family members working in a family business.

In essence, the vast majority of employees are entitled to super contributions, making it an essential component of your financial well-being.

How to compare the best super fund for under 18s

When you're just starting your journey in the workforce, securing your financial future may not be top of mind. However, choosing the right superannuation fund is a crucial step towards ensuring a comfortable retirement.

Let's walk you through the process of comparing super funds tailored to young individuals.

  • Fees: Look for funds that have lower fees. Ideally 1% is something to consider.
  • Performance: Examine the historical performance of the funds. Evaluate their returns over the past 1, 3, 5, and 10 years. Keep in mind that past performance doesn't guarantee future results, but it can provide insights into how well a fund has been managed.
  • Customer service and accessibility: Assess the level of customer service and accessibility provided by the super funds. Consider factors like online account management, customer support, and user-friendly interfaces.
  • Company reputation: Look at customer reviews and forums to find out other people's experiences with a super fund to get an idea of their reputation. Awards such as the Finder Awards can be a great place to get an idea of this, too.
  • Consider personal goals: Your choice should align with your long-term financial goals. If you plan to retire early or have specific financial or sustainability objectives, choose a fund that supports those goals.
  • Compare super fund rankings: Utilising resources like Finder, you can access detailed information and rankings of the best performing super funds, including their fees, performance, and features.

1 - 17 of 430
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.)
Virgin Money Super - LifeStage Tracker
Virgin Money Super logo
Lifestage
Last 1 year performance (p.a.)
+13.87%
Last 3 year performance (p.a.)
+6.55%
Last 5 year performance (p.a.)
+7.82%
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.
Aware Super Future Saver - MySuper Lifecycle High Growth
Aware Super logo
Industry fundLifestageHigher risk
Last 1 year performance (p.a.)
+11.31%
Last 3 year performance (p.a.)
+6.14%
Last 5 year performance (p.a.)
+8.28%
Last 10 year performance (p.a.)
+8.93%
Fees on $50k balance (p.a.)
$497
Go to siteMore Info
Vanguard Super SaveSmart - High Growth
Vanguard logo
Higher risk
Last 1 year performance (p.a.)
+14.3%
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
Virgin Money Super - LifeStage Tracker
Virgin Money Super logo
Lifestage
Last 1 year performance (p.a.)
+13.87%
Last 3 year performance (p.a.)
+6.55%
Last 5 year performance (p.a.)
+7.82%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$363
Go to siteMore Info
AMP Super MySuper Lifestages 1970s
AMP logo
Lifestage
Last 1 year performance (p.a.)
+11.88%
Last 3 year performance (p.a.)
+5.66%
Last 5 year performance (p.a.)
+7.02%
Last 10 year performance (p.a.)
+7.68%
Fees on $50k balance (p.a.)
$506
Go to siteMore Info
Australian Retirement Trust - High Growth
Australian Retirement Trust logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+12%
Last 3 year performance (p.a.)
+8.02%
Last 5 year performance (p.a.)
+9.01%
Last 10 year performance (p.a.)
+9.4%
Fees on $50k balance (p.a.)
$517
Go to siteMore Info
Hostplus Indexed Balanced
Hostplus logo
Industry fund
Last 1 year performance (p.a.)
+12.94%
Last 3 year performance (p.a.)
+6.22%
Last 5 year performance (p.a.)
+7.39%
Last 10 year performance (p.a.)
+7.83%
Fees on $50k balance (p.a.)
$153
Go to siteMore Info
Australian Ethical Super International Shares
Australian Ethical Super logo
Green CompanyEthicalHigher risk
Last 1 year performance (p.a.)
+19.88%
Last 3 year performance (p.a.)
+8.32%
Last 5 year performance (p.a.)
+10.65%
Last 10 year performance (p.a.)
+10.23%
Fees on $50k balance (p.a.)
$643
Go to siteMore Info
CFS FC MySuper - Lifestage 1985-89
Colonial First State logo
LifestageHigher risk
Last 1 year performance (p.a.)
+15.44%
Last 3 year performance (p.a.)
+6.66%
Last 5 year performance (p.a.)
+7.47%
Last 10 year performance (p.a.)
+7.83%
Fees on $50k balance (p.a.)
$375
Go to siteMore Info
UniSuper - Sustainable High Growth
UniSuper logo
Finder AwardIndustry fundEthicalHigher risk
Last 1 year performance (p.a.)
+16.11%
Last 3 year performance (p.a.)
+5.45%
Last 5 year performance (p.a.)
+9.15%
Last 10 year performance (p.a.)
+10.01%
Fees on $50k balance (p.a.)
$321
Go to siteMore Info
HESTA Balanced Growth
HESTA logo
Industry fund
Last 1 year performance (p.a.)
+9.69%
Last 3 year performance (p.a.)
+5.83%
Last 5 year performance (p.a.)
+7.02%
Last 10 year performance (p.a.)
+7.67%
Fees on $50k balance (p.a.)
$472
Go to siteMore Info
CFS FC MySuper - Lifestage 1975-79
Colonial First State logo
Lifestage
Last 1 year performance (p.a.)
+14.95%
Last 3 year performance (p.a.)
+6.37%
Last 5 year performance (p.a.)
+7.23%
Last 10 year performance (p.a.)
+7.71%
Fees on $50k balance (p.a.)
$380
Go to siteMore Info
Australian Retirement Trust - International Shares Index (unhedged)
Australian Retirement Trust logo
Finder AwardIndustry fundIndexed investmentHigher risk
Last 1 year performance (p.a.)
+18.92%
Last 3 year performance (p.a.)
+9.67%
Last 5 year performance (p.a.)
+11.86%
Last 10 year performance (p.a.)
+12.55%
Fees on $50k balance (p.a.)
$192
Go to siteMore Info
Hostplus Australian Shares
Hostplus logo
Industry fundHigher risk
Last 1 year performance (p.a.)
+10.4%
Last 3 year performance (p.a.)
+7.33%
Last 5 year performance (p.a.)
+8.35%
Last 10 year performance (p.a.)
+9.05%
Fees on $50k balance (p.a.)
$368
Go to siteMore Info
Vanguard MySuper - Lifecycle Age 47 and under
Vanguard logo
Lifestage
Last 1 year performance (p.a.)
+14.29%
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.)
$280
Go to siteMore Info
Virgin Money Super Indexed Overseas Shares
Virgin Money Super logo
Indexed investmentHigher risk
Last 1 year performance (p.a.)
+21.04%
Last 3 year performance (p.a.)
+10.95%
Last 5 year performance (p.a.)
+12.71%
Last 10 year performance (p.a.)
N/A
Fees on $50k balance (p.a.)
$385
Go to siteMore Info
CFS FC MySuper - Lifestage 2005-09
Colonial First State logo
Higher risk
Last 1 year performance (p.a.)
+15.94%
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.)
$365
Go to siteMore Info
loading
Showing 17 of 59 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, data for a small number of products is provided directly by the individual super fund.

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

Example case study: Alex finds a super fund

For instance, consider this example to understand it better — Alex, a 35-year-old marketing manager, had been diligently contributing to his superannuation fund over the years. He already had a balance of $30,000 in his super fund, but he noticed that the fund was charging high fees of 2.8%.

After conducting some research and considering his long-term financial goals, Alex decided to make a smart move. He switched to a different superannuation fund with significantly lower fees, at just 1.2%.

By making this strategic change, Alex is on track to boost his retirement savings substantially. At the age of 65, he will have an estimated $65,000 more in his super fund. Instead of ending up with $275,000, his super account balance is projected to grow to a more comfortable $340,000.

This decision to switch to a low-fee super fund has set Alex on a path to a financially secure retirement, ensuring he can enjoy his golden years with peace of mind and a more substantial nest egg.

Tips: To evaluate the best super fund for the under 18 age group, focus on three key factors:

  • Low fees: Annual fees below 1.5% of your balance are generally considered to be on the low side.
  • High returns: Look for high long-term performance returns over the past 7-10 years (10-year average returns over 7-8% p.a. are quite strong).

If you need a bit more help, our best super fund picks could be a good place to start.

What should I do if my employer has not paid super?

Recent research by Industry Super Australia has uncovered a concerning trend: Australian workers have missed out on a staggering $33 billion in unpaid superannuation over the past seven years. This equates to an annual loss of $4.7 billion in superannuation payments.

One key reason for this underpayment issue is the misalignment between superannuation payment frequencies and wage payment schedules. The law requires super contributions to be made at least quarterly, but most employees are paid on a more frequent basis (weekly, fortnightly, or monthly).

This mismatch makes it challenging for workers to detect underpayments, leading to a pressing call for government intervention to mandate super payments at the same frequency as wages. This change would ensure that workers receive their entitled superannuation contributions promptly and without complications.

Therefore it becomes even more important to check on your super contributions. If you are concerned you are not receiving your correct super payments or just want to make sure you're receiving what is owed to you, you check your payments by logging onto the ATO's online portal.

Finder survey: How familiar are Australians with the different types of super funds available?

Response
I know some60.24%
I know very little29.23%
I know a lot10.53%
Source: Finder survey by Pure Profile of 1016 Australians, December 2023

Frequently asked questions

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

Editor

Alison Banney is the money editorial manager at Finder. She covers all areas of personal finance, and her areas of expertise are superannuation, banking and saving. She has written about finance for 10 years, having previously worked at Westpac and written for several other major banks and super funds. See full bio

Alison's expertise
Alison has written 624 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living

More guides on Finder

Go to site