What are superannuation companies?
Superannuation companies, more commonly referred to as superannuation funds, provide products to help invest and grow your retirement savings while you're still working. According to Finder research, there are 23.2 million superannuation accounts in Australia from a total of 145 fund providers.
Superannuation is compulsory for Australian employees, and you need a dedicated superannuation fund to put the money into (it can't just go into your standard bank account). Super companies offer these dedicated products. As of March 2023, the money held in Australian super funds totaled $3.5 trillion, according to the ASFA.
What are industry super funds?
Industry super funds are not-for-profit funds that were originally reserved for workers in a particular industry, but are now open to all Australians. These funds are owned and run by members, with profits going back into the fund to benefit members. They usually only exist to provide superannuation products.
What are retail super funds?
Retail funds are often owned by a bank, insurance provider or another type of large financial institution. As well as superannuation products, they often offer other financial products and services such as bank accounts, mortgage products and insurance. Profits are distributed among shareholders as well as put back into the fund.
What is a self managed super fund?
A self managed super fund (SMSF) is an option for people who want to manage their superannuation themselves, instead of putting it into a superannuation fund. You can create your own SMSF with up to 4 members (usually family members) and invest your retirement savings how you want to. However, SMSFs are expensive, tricky and time-consuming to run.
List of super companies and super fund products
List of superannuation funds
Use our comparison table to compare super funds based on performance, fees and insurance options.
Unless indicated otherwise, the information in the 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.
*Past performance data and fee data is for the period ending Apr 2024
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Ask a Question
What is the ranking of Telstra super in general ?
Hi Horang,
Please note that Telstra is not an open fund, meaning there are eligibility criteria you need to meet in order to join. To join this fund, you must be a Telstra employee or have a family member who is.
In terms of how this fund performs, you can see its performance returns here.
You can compare these with other funds in the market to get an idea of how this fund has performed in the past (but keep in mind past performance isn’t a reliable indicator of future performance). You should also compare the fees of this fund too against others.
You can compare other super funds that are open for all Australians to join here.
Hope this helps.
Thanks,
Alison
can you divide your super accross all super funds without having to pay fees for low income earners?
Hi Kristina,
Thanks for getting in touch! You can divide your super across as many funds as you want to, but you will need to pay fees on each fund. This is why it’s generally advised to only have the one super fund.
Hope this was helpful. Should you need any clarifications, feel free to message back and we can advise you accordingly.
Best,
Nikki
Can I get death cover after 70 if I am still working?
Hi Ron,
Thank you for getting in touch with Finder.
Some insurers still provide funeral insurance for seniors after 70 and still working. You may also consider comparing death insurance and get a personalised quote by entering your details under our comparison table.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Can I have a list of providers who accepts kiwisaver. Thank you
Hi Ghie,
Thanks for getting in touch! As of this time, we don’t have a page that lists brands who accepts KiwiSaver. I suggest contacting Kiwisaver directly to obtain the information you need. Hope this clarifies!
Best,
Nikki
Please reassure me that this list on this page includes all the Australian institutions that offer a superannuation component to their services. I have Family Court orders that instruct my solicitor to give my ex-husband’s superannuation company a copy of the court orders. Sadly, this was not done, and now I have forwarded to every superannuation company on your page, a copy of the court orders. Are these the only superannuation companies in Australia or are there more?
Hi Mary,
Thank you for getting in touch with Finder.
There are 2,337 institutions that accept superannuation and approved deposit funds according to RBA. For further assistance, you may seek help from a financial advisers on this matter.
I hope this helps.
Please feel free to reach out to us if you have any other enquiries.
Thank you and have a wonderful day!
Cheers,
Jeni