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.
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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.
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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
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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.
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About the authors
Michael Lund, Former Senior Finance Journalist
Joshua Sale, Group Manager, Research & Ratings
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