What to look for when choosing a super fund

What to look for when choosing a super fund


Selecting a super fund is an important decision; it can mean the difference between retiring comfortably or not.

While not all employees can choose their super fund, you are generally eligible to select which fund your super contributions are made to if:

– you are employed under an agreement that does not require super support
– your contributions are paid through a federal or former state award
– you are not employed under an industrial agreement.

Once you have established whether you are eligible to choose your super fund, you should consider the following types of super funds and evaluate which is best for you:

– SMSFs

SMSFs are those where the trustee is responsible for managing and making regular contributions to the fund.

– Industry funds

Industry funds generally cater to employees from a specific industry; they may have fewer cost funds and few investment options.

– Corporate funds

Corporate funds are offered to specific corporations or if you are employed by a specific employer.

– Retail funds

Retail funds are offered to everyone and are usually run by investment companies or banks.

– Public sector funds

Public sector funds are offered to state and federal government employees. They generally include a wide range of benefits and allow members to make higher super contributions.

When making comparisons between various super funds, you should look at a number of factors, such as fees associated with each fund, benefits you will be eligible for, opportunities to invest and customer service provided by the fund. Also look for any extra benefits, such as the ability to make higher contributions, and how the fund has performed in the past five years.

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If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.


Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.


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