Did you know ... You can view the details of 16 Industry Super Funds on this website
Which Industry Super Fund is right for me?
Whatever your type of work, there’s an Industry Super Fund to suit you. In fact, with the introduction of Super Choice legislation in 2005, anyone eligible to choose can consider joining an Industry Super Fund.
View 16 Industry Super Funds that could make a lifetime of difference to your future.
Check your eligibility to join an Industry Super Fund.
While we are prevented by law from advising you about which fund to choose, we can advise you of a number of the key factors to consider when choosing your fund.
Performance
Does the fund have a good track record of producing strong, long-term returns for its members? After all, this greatly helps to build your nest egg for retirement. Industry Super Funds have consistently produced strong returns for their members^. You can compare the performance of different funds by visiting www.superratings.com.au.
^Note: Past performance is not a reliable indicator of future performance
Investment choice
It is important for you to be comfortable with how your fund invests your super. Most funds offer a range of investment options. Some of these options offer higher returns, but with a higher risk that investments may go down as well as up. Other options offer higher security but generally have lower expected returns.
Industry Super Funds offer a great range of investment options to match the level of risk that you are comfortable with.
Fees*
The fees you pay can greatly affect your final retirement payout. On average, Industry Super Funds charge less fees than the average Retail Master Trust. SuperRatings, an independent ratings and research company, concluded that over a 40 year working life, Australians could be more than 24% better off in an industry super fund, based on existing fee structures*. This is equivalent to having $124,343 more (in today’s dollars) in their superannuation account at retirement. Over a typical working lifetime, this difference can greatly affect the lifestyle you can lead in your retirement
Ensure you know the fees you are being charged on your super account. Use the ASIC calculator to see the effect that different fees have on your superannuation.
Insurance
Cover for Death, Total and Permanent Disability and Salary Continuance are some of the offerings provided by many super funds. Check the cost of premiums, the levels of benefit, the type of cover offered and the underwriting requirements.
Added services
Most Industry Super Funds provide a number of additional services to their members. Depending on the industry you work in, there may be an Industry Super Fund that has specific services or benefits to suit you.
Above all, take your time. Choosing the right fund now can make a huge difference later on.
View 16 Industry Super Funds that could make a lifetime of difference to your future.
*Assumes initial salary of $50,000 and initial income of $50,000. Modelling commissioned by Industry Fund Services Pty Ltd. The modelling is based on various assumptions not all of which are shown here. Click here to view the assumptions and further information.