Superannuation - industry super Background

Best performing industry super funds

The table below shows a selection of superannuation policies from industry super funds on Canstar’s database, sorted first by five-year return.

Group Manager, Research & Ratings
Former Senior Finance Journalist
Fact checked

Instantly compare 60+ Canstar expert rated funds based on the inputs below


Sort results Sort By
down-arrow
  • Star Rating - lowest first
  • Star Rating - highest first
  • Annual fees at $50k balance - lowest first
  • Annual fees at $50k balance - highest first
  • 1 year return - lowest first
  • 1 year return - highest first
  • 5 year return - lowest first
  • 5 year return - highest first
Mine Super | High Growth
Mine Super logo
star-rating-icon star-rating-icon star-rating-icon star-rating-icon star-rating-icon
$392 Glossary
14.6% Glossary
High Growth Glossary
8.6% Glossary
High Growth Glossary
star-rating-icon star-rating-icon star-rating-icon star-rating-icon star-rating-icon
$497 Glossary
12.9% Glossary
High Growth (Lifecycle investment) Glossary
8.5% Glossary
High Growth (Lifecycle investment) Glossary
Catholic Super | Employer Sponsored - Growth Plus
Catholic Super logo

Not rated

$487 Glossary
13% Glossary
Growth Plus Glossary
8.5% Glossary
Growth Plus Glossary
Child Care Super | Building
Child Care Super logo
star-rating-icon star-rating-icon star-rating-icon star-rating-icon star-rating-icon
$435 Glossary
15.5% Glossary
Lifestage - Building Glossary
8.1% Glossary
Lifestage - Building Glossary
GuildSuper | Building
GuildSuper logo
star-rating-icon star-rating-icon star-rating-icon star-rating-icon star-rating-icon
$429 Glossary
15.5% Glossary
Building Glossary
8.1% Glossary
Building Glossary
Child Care Super | Growing
Child Care Super logo

Not rated

$500 Glossary
12.8% Glossary
Lifestage - Growing Glossary
7.9% Glossary
Lifestage - Growing Glossary
GuildSuper | Growing
GuildSuper logo

Not rated

$459 Glossary
12.8% Glossary
Growing Glossary
7.9% Glossary
Growing Glossary
Active Super | Lifestage - Accelerator
Active Super logo
star-rating-icon star-rating-icon star-rating-icon star-rating-icon star-rating-icon
$601 Glossary
11.3% Glossary
Lifestage - Accelerator Glossary
7.8% Glossary
Lifestage - Accelerator Glossary
star-rating-icon star-rating-icon star-rating-icon star-rating-icon star-rating-icon
$507 Glossary
10.3% Glossary
Lifecycle Investment Strategy - Balanced Glossary
7.5% Glossary
Lifecycle Investment Strategy - Balanced Glossary
Hostplus Super | Personal - Balanced
Hostplus Super logo
star-rating-icon star-rating-icon star-rating-icon star-rating-icon star-rating-icon
$606 Glossary
8.2% Glossary
Balanced Glossary
7.4% Glossary
Balanced Glossary

Showing 10 of 30 results

check Included
cross Not included
circle Optional
na Not applicable
dash Data not captured
canstar-rating-icon Canstar rating
indicative-canstar-rating-icon Indicative Canstar rating

Unsure of a term in the above table? View glossary

The initial results in the table above are sorted by 5 year return (High-Low) , then Star Rating (High-Low) , then Provider Name (Alphabetical) . Additional filters may have been applied, see top of table for details.

What is an industry super fund?

An industry super fund is one that was originally set up to offer superannuation only to a particular group of workers. Now, some of those (typically the bigger ones) are open for anyone to join.

An industry super fund is run as a non-for-profit organisation, which means there are no shareholders to pay and any profit stays with the organisation for the benefit of members.

Industry super funds also tend to have lower fees.

Industry funds accounted for about $1,081 billion in assets in the September 2022 quarter, according to figures from the Australian Prudential Regulation Authority (APRA). That’s about 48.0% of the total $2.3 trillion in APRA-regulated super funds.

They’ve delivered an annual rate of return that’s fairly close to the average of all APRA regulated super funds over the past few years.

The Association of Superannuation Funds of Australia says retail super funds are the most popular single sector in superannuation with 12.4 million accounts, that’s about 53% of a total 23.3 million accounts in September 2022.

According to APRA, the top five industry super funds when it comes to membership  at June 2022 were:

  • AustralianSuper (2,876,270 members)
  • Australian Retirement Trust (2,216,337)
  • Rest Super (1,923,357)
  • Hostplus (1,596,951)
  • Aware Super (1,154,674)

By comparison the top retail fund at the time was AMP Super with 1,060,279 members.

Before making any decision about joining any industry super fund you might want to consider seeking some independent financial advice. When considering any industry super fund, read carefully any Product Disclosure Statement (PDS) and Target Market Determination (TMD) documents.

Frequently Asked Questions about industry super funds

An industry super fund works in a similar way to most other superannuation in Australia. Superannuation is a way to save money during your working life that you can use when you retire. The aim is to provide you with an income in retirement that substitutes or supplements the Australian Age Pension.

If you’re employed and meet the eligibility requirements to receive the compulsory Superannuation Guarantee then your employer must pay a set percentage of your ordinary time earnings into your super fund, which may be an industry super fund.

If you meet the requirements, you must be paid super whether you work casually, part-time, full-time or as a contractor, and even if you are a temporary resident.

Money held in your super account is invested in a range of assets by your fund. Most funds give members the option of choosing how their savings are invested, so it could be helpful to learn more about your super investment options.

You generally can’t access the money in your super account until you reach the conditions or release, which is typically when you’ve reached the age you can retire.

You may get a chance to open your first super account when you start your first job. Depending on your employer or employment type you may be eligible to join an industry super fund that’s restricted to certain members.

Since most industry super funds are open to anyone these days, you don’t have to go with an option suggested by your employer. You could choose your preferred industry super fund. You should check to see which super fund best suits your needs.

You can compare industry super funds and see top-performing super funds on Canstar’s database using the table, above.

When comparing industry super funds you need to look at a number of factors, as you would when considering any type of super product.

The federal government’s Moneysmart website says you should first consider whether you can actually join an industry fund. While many are open to the public there are others that are still restricted to certain groups of people, which may include you.

Most industry funds are accumulation funds which means you and your employer can add contributions to the pot which hopefully grows over time, based on how the money is invested and what fees are charged.

Some industry super funds may still have a defined benefit option, where any retirement benefit paid is defined by a formula, but you may find there are restrictions on who can join, or it may be blocked to new members.

You need to look at what investment options an industry fund may offer, such as growth, balanced, conservative, a default MySuper and any ethical option. You may want to have the option to select a mix of options and change them over time as you get closer to retirement.

You need to look at what fees are charged for particular services and how often they are charged. Just a small change in the fees charged can make a big difference to your retirement pot.

Next you need to consider how a particular industry fund has performed over time, but remember that past performance is no guarantee on future performance.

The Australian Prudential Regulation Authority (APRA) keeps a check on a number of super products to see if they are performing or not, so you may be able to do your own check on a potential industry fund.

You can also compare industry super funds listed on our database using the table, above, where you can select search options for our star ratings and things such as insurance. The results can be sorted by star rating, fee and performance over one and five years.

You can usually make additional contributions to an industry super fund. The type of contributions which can be added include any:

If you already have an account with an industry super fund and you move to a new employer then you may be able to keep that account.

You might want to check with your super provider to see if your account may be regarded as a stapled account, one that may stay with you throughout your career.

If that’s the case then your new employer should be able to make any super contributions to your stapled super account.

Choosing insurance through your superannuation fund is a personal decision. You can hold life insurance through your industry super fund or an external policy – or both.

Most industry super funds offer life insurance, total and permanent disability (TPD) and income protection insurance, with life cover and TPD insurance often automatic.

People aged under 25 no longer receive default life insurance through their super when joining a new fund, unless they work in a dangerous job or write to their fund and request it.

Latest in superannuation

Canstar Superannuation Star Ratings and Awards

Looking for an award-winning product or to switch providers or brands? Canstar rates products based on price and features in our Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.

Superannuation Star Ratings and Awards

About the authors

Michael Lund, Former Senior Finance Journalist

Michael Lund
Michael is an award-winning journalist with more than three decades of experience reporting on a range of subjects, including general news, lifestyle, local government, science and technology. As a senior finance journalist at Canstar, Michael has written more than 100 articles covering superannuation, savings, wealth, life insurance, home loans and more. His work has been referenced by a number of other finance publications, including Yahoo Finance and The Motley Fool. Michael started in the UK working for a number of local and evening newspapers, including as a local government reporter. He then moved to the BBC and worked in radio before taking up the position of bi-media local government correspondent for the West of England, based in Bristol. In 1998 Michael moved to Australia and worked for Queensland’s The Sunday Mail before joining the ABC in Brisbane. There, he worked as a reporter and producer in a number of areas in radio and television, including for ABC TV’s popular Australian Story. After a stint as a tutor and lecturer in journalism at Queensland University of Technology, Michael returned to News Corp as a feature writer for The Courier-Mail. An interest in online journalism saw Michael join The Conversation first as a science and technology editor and later as a commissioning editor, working across all areas of coverage including with The Conversation’s New Zealand team. Michael has been lucky enough to win a few awards for his work, including a Queensland Media Award and a highly commended in the Walkleys. In 2021 he was part of a team that was a finalist in the Australian Museum Eureka Prize for Science Journalism. He holds a Bachelor of Science in mathematics and applied physics (Manchester Metropolitan University) and a Masters of Science in pure mathematics (Liverpool University). You can connect with Michael on LinkedIn. View Michael’s articles.

Joshua Sale, Group Manager, Research & Ratings

Joshua Sale
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research Team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products. As one of Canstar’s company spokespeople, Joshua is confident participating in print, radio and broadcast journalism interviews. He has participated in interviews with the Australian Financial Review, news.com.au and Money Magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends. You can follow Joshua on LinkedIn. Have a media enquiry, and interested in featuring Joshua as a financial expert and commentator? Contact Canstar’s Media Team today.

Thanks for visiting Canstar, Australia’s biggest financial comparison site*

Important information

For those that love the detail

This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.

Canstar may earn a fee from its Online Partners for referrals from its website tables, and from sponsorship or promotion of certain products. Fees payable by product providers for referrals and sponsorship or promotion may vary between providers, website position, and revenue model. Sponsorship/promotion fees may be higher than referral fees. If a product is sponsored or promoted, it’s an ad and it is clearly marked as such. An ad might appear in different places on our website, such as in comparison tables and articles. Ads may be displayed in a fixed position in a table, regardless of the product's rating, price or other attributes. The location of an ad doesn’t indicate any ranking or rating by Canstar. Payment of fees for ads does not influence our Star Ratings. See How We Get Paid to find out more.

The Superannuation Star Ratings were awarded in March 2024. The results don’t include every provider in the market and we may not compare all features relevant to you. Current fees and performance information are displayed and may be different to what was rated. You can find a description of the initial sort order below the table. You can use the sort buttons at the top of each column to re-order the display. Learn more about our Superannuation Star Rating Methodology. The rating shown is only one factor to take into account when considering products. Check current product details and investment options with the product issuer. If you are unsure about any terms used in the comparison table please refer to the glossary.

What is a Target Market Determination?

A Target Market Determination (‘TMD’) is a document that explains which people particular financial products may be suitable for (the target market) and sets out any conditions around how financial products can be distributed to consumers.

Why do product issuers provide Target Market Determinations?

From 5 October 2021, TMDs are compulsory for most financial products.

Issuers and distributors of financial products must take reasonable steps that are likely to result in financial products reaching consumers in the target market defined by the product issuer.

We recommend that you consider the TMD before making a purchase decision. Contact the product issuer directly for a copy of the TMD.

Any advice on this page is general and has not taken into account your objectives, financial situation or needs. Consider whether this general financial advice is right for your personal circumstances. You may need financial advice from a qualified adviser. Canstar is not providing a recommendation for your individual circumstances. It’s important you check product information directly with the provider. Consider the Product Disclosure Statement and Target Market Determination (TMD), before making a purchase decision. Contact the product issuer directly for a copy of the TMD. For more information, read our Detailed Disclosure.

Canstar is not providing a recommendation for your individual circumstances. We cannot and do not recommend that any particular product is suitable for you. 

We provide links to our Online Partners. These are brands that may pay Canstar a fee for referring you. Our tables default to display only our Online Partners’ products initially, you can adjust the Online Partner Filter to see all of the products in Canstar’s database. We provide these links so that you can click through to the product provider’s website to get more information. The provision of these links does not constitute a recommendation by Canstar.

The age group you selected is used to provide the results in the table, including fee, performance and asset allocation based on the investment profile in the Canstar Superannuation Star Ratings methodology. Consider your own level of risk comfort when you review the asset allocation as your preference may not match the profile shown. Some providers use different age groups for their investment profiles which may result in you being offered or eligible for a different product to what is displayed in the table. See here for more details.

Australian Retirement Trust Super Savings’ allocation of funds for investors aged 55-99 differs from Canstar’s methodology – see details here. The Australian Retirement Trust Super Savings (formerly Sunsuper for Life) product may appear in the table multiple times. While you will not be offered any single investment option, this is to take into account the different combinations of investment options Australian Retirement Trust may apply to your account based on your age. For more detail in relation to the Australian Retirement Trust Super Savings (formerly Sunsuper for Life) product please refer to the PDS issued by Australian Retirement Trust for this product.

Investment profiles applied initially may change over time in line with an investor’s age. See the provider’s Product Disclosure Statement and in particular applicable age groups for more information about how providers determine their investment profiles.

The performance and fee information shown in the table is for the investment option used by Canstar in rating of the superannuation product. Performance information shown is for the historical periods up to 29/02/2024 and investment options noted in the table information. Performance figures shown reflect net investment performance, i.e. net of investment tax, investment management fees and the applicable administration fees based on an account balance of $50,000. To learn more about performance information, click here. Performance data may not be available for some products. This is indicated in the tables by a note referring the user to the product provider, or by no performance information being shown.

Please note that all information about performance returns is historical. Past performance should not be relied upon as an indicator of future performance; unit prices and the value of your investment may fall as well as rise.