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Top 10 best performing super funds revealed

Piggy bank with the world 'superannuation' on the side and hands holding $100 notes.
You could retire with hundreds of thousands of dollars more depending on which super fund you're with. (Source: Getty)

It’s about to be a brand new year and with more Aussies looking for a new job, it’s a good time to remember that your super fund will be following you around.

As of 1 November this year workers were no longer automatically signed up to their employers super fund unless opting not to - meaning if you're stuck in a dud fund it may be time to switch things up.

The Australian Prudential Regulation Authority (APRA) has released a heatmap exposing the best and worst super funds for Australians.

The first release was back in August, where APRA named the 13 super funds which had failed its test while this release named the best performing funds.

So, if you’re thinking of making the switch, here are the top 10 super funds that are publicly (those which are tied to private companies for their employees have been excluded).

  1. UniSuper - Balanced

  2. Australian Ethical Retail Super Fund - Balanced

  3. AustralianSuper - Mysuper

  4. QSuper - Lifetime

  5. Cbus - MySuper

  6. HostPlus - Balanced

  7. Statewide - MySuper

  8. First Super - MySuper

  9. Care Super - CareSuper

  10. Aware Super - MySuper Lifecycle

The heatmap works by tracking each fund's performance from the past seven years and comparing it to an investment benchmark.

Why is switching super funds important?

If you are stuck in a dud fund you could be missing out on hundreds of thousands of dollars in retirement.

For example, using the MoneySmart super calculator, a 30 year old who makes $75,000 a year with a super balance of $60,000 could retire with over $1,000,000 if they were in the best option compared to just $511,000 for someone in the average option.

Infographic showing the difference in super balance between two super funds.
(Source: MoneySmart)

In alphabetical order, the 13 products that failed to meet the new benchmark performance test are:

  1. AMG Super - AMG MySuper

  2. ASGARD Independence Plan Division two - ASGARD Employee MySuper

  3. Australian Catholoic Superannuation and Retirement Fund - LifetimeOne

  4. AvSuper Fund - AvSuper Growth (MySuper)

  5. BOC Gases Superannuation Fund - BOC MySuper

  6. Christian Super - My Ethical Super

  7. Colonial First State FirstChoice Superannuation Trust - Colonial First State FirstChoice Superannuation Trust

  8. Commonwealth Bank Group Super - Accumulate Plus Balanced

  9. Energy Industries Superannuation Scheme-Pool A - Balanced (MySuper)

  10. Labour Union Co-Operative Retirement Fund - MySuper Balanced

  11. Maritime Super - MYSUPER INVESTMENT OPTION

  12. Retirement Wrap - BT Super MySuper

  13. The Victorian Independent Schools Superannuation Fund - VISSF Balanced Option (MySuper Product)

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