Best performing retail super funds

The table below shows a selection of superannuation policies from our Online Partners that are retail super funds, sorted first by five-year return.

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$280
12.2%
N/A
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One of the lowest yearly fees in market at 0.56%
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Simpler, smarter super with strong performance
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Auto-adjusting investments as you age. T&Cs apply
Online rollover
Online application
$344
12.3%
9.9%
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Strong performing fund rewarding you with low fees
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Plus Velocity Points on contributions. T&Cs apply
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Super Simple Advice at no additional cost
Online rollover
Online application
$618
9.9%
7.2%
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Ethical & Sustainable Super Since 1986
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Super with heart
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Join in under 5 mins
Online rollover
Online application
$479
11.9%
9.6%
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Get super close to your super with AMP Super
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Digital tools and simple advice with no extra fees
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Lower than industry average fees & costs
Online rollover
Online application
$280
12.2%
N/A
Online rollover
Online application

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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, which impact the results displayed in the table - filters can be applied or removed at any time.

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Australian Financial Services Licence 293340.
Super Returns, Super Advice, Super Helpful
A smart investment approach that automatically tailors your investment mix to your age over time to help you retire with more.
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Canstar 2022, 2023 and 2024 Outstanding Value Super Award
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Get Expert Advice to Grow Your Super
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Delivering Super advice and Super returns.
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Managing investments for over 1 million Australians
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Local call centres in Perth and Melbourne
Australian Financial Services Licence 293340. See Terms & Conditions. Star Rating Methodology.
Australian Financial Services Licence 293340. See Terms & Conditions.

What is a retail super fund?

A retail super fund is typically run by a bank, an investment company or some other financial institution that generally aims to make a profit, some of which may be paid in dividends to shareholders. That’s different to many industry and public sector super funds where any profits go back to the fund.

Retail funds accounted for about $633 billion in assets in the September 2022 quarter, according to figures from the Australian Prudential Regulation Authority (APRA). That’s about 28.1% 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 regulated super funds over the past few years.

The Association of Superannuation Funds of Australia says industry super funds are the second most popular single sector in superannuation with 6.6 million accounts, that’s about 28% of a total 23.3 million accounts in June 2022. The top spot is taken by industry super funds with about 12.4 million (53%) accounts.

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

  • AMP Super (1,060,279 members)
  • MLC Super (1,019,483)
  • BT Super (876,902)
  • Colonial First State (850,494)
  • One Path Superannuation (719,569)

By comparison the top industry fund at the time was AustralianSuper with 2,876,270 members.

If you’re considering joining a retail super fund then you might want to look at what options are available to you.

Before making any decision about joining any retail 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 retail super funds

A retail 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 a retail 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 of release, which is typically when you’ve reached the age you can retire.

Anyone can join a retail super fund and there are plenty of options to choose from.

You can compare retail super funds and see top-performing super funds on Canstar’s database by filtering the table above.

Once you’ve found a fund that appears to suit your needs you can contact them directly to see what options are available and what details they need from you as part of any application process.

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

Retail funds are usually accumulation funds which means you and your employer (unless you’re self-employed) can add contributions to the pot which hopefully grows over time, based on how the money is invested and what fees are charged.

You need to look at what investment options a retail 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 retail 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 retail fund.

You can also compare retail super funds listed on our database by filtering 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 a retail super fund. The type of contributions which can be added include any:

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

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.

You might want to check first to see if your new employment gives you access to a super fund restricted to certain members. That may offer you more benefits than your existing retail super fund.

Choosing insurance through your superannuation fund is a personal decision. You may be able to hold life insurance through your retail super fund or an external policy – or both.

Most retail 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 our finance experts

Nina Rinella, Editor-in-Chief

Nina Rinella
As Canstar’s Editor-in-Chief, Nina heads up a team of talented journalists committed to helping empower consumers to take greater control of their finances. Nina has written countless articles about finance and has been interviewed on finance topics by media organisations including The Australian, Realestate.com.au, Domain, the Herald Sun and the Sydney Morning Herald. Previously Nina founded her own agency where she provided content and communications support to clients around Australia for 8 years. She also spent four years as the PR Manager for American Express Australia, and has worked at a Brisbane communications agency where she supported dozens of clients, including Sunsuper and Suncorp. When she’s not dreaming up ways to put a fresh spin on finance, she’s taking her own advice by trying to pay her house off as quickly as possible and raising two money-savvy kids. Nina has a Bachelor of Journalism and a Bachelor of Arts with a double major in English Literature from the University of Queensland. She’s also an experienced presenter, and has hosted numerous events and YouTube series. You can follow her on LinkedIn and Canstar on Facebook. Meet the Canstar Editorial Team. Have a media enquiry, and interested in featuring Nina as a financial expert and commentator? Contact Canstar’s Media Team today.

Joshua Sale, GM, Research

Joshua Sale

As Canstar’s Group Manager, Research, Ratings & Product Data, Josh Sale is responsible for the methodology and delivery of Canstar’s Superannuation Star Ratings and Awards. With tertiary qualifications in economics and finance, Josh has worked behind the scenes for the last five years to develop Star Ratings and Awards that help connect consumers with the right super fund for them.

He believes that for many Australians, superannuation is arguably the most important financial product they will ever have, as the fees you’re paying and your fund’s performance could be the difference between a comfortable retirement and struggling to pay the bills.

When it comes to his own super, the phrase ‘set and forget’ is not in Josh’s vocabulary. Not only does he check his super balance monthly, he maintains spreadsheets with projections to ensure he’s on track for retirement. He is passionate about helping others to actively monitor their super and make sure they are on track for the best retirement possible.

As one of Canstar’s spokespeople, Josh has been interviewed on a wide range of personal finance topics by media outlets such as the Australian Financial Review, news.com.au and Money Magazine.

You can follow Josh on LinkedIn, and Canstar on X and Facebook.

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. Payment of fees for ads does not influence our Star Ratings or Awards.

The Superannuation Star Ratings were awarded in November 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 available for comparison on Canstar’s website. 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 listed in the table above the performance and fee information and used by Canstar in rating the Superannuation product (where the product has a Star Rating). Performance information shown is for the historical periods up to 30/04/2025 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.