In August 2026, APRA tested 547 Super products. Twelve failed, including one default MySuper product from a Queensland building industry fund. The test sets a minimum standard, not a measure of how well your money is invested for your situation.
How to check your fund
- Look up your fund on the ATO's YourSuper comparison tool.
- Check which investment option you are in. Most people are in the default "balanced" option.
- Compare fees in dollars. On $300,000, a 0.5% difference is $1,500 a year.
- Compare 7 to 10 year returns against similar options. One year means little.
- Check your insurance inside Super.
Example
Two people each have $200,000 in Super at 45 and retire at 67. At 7% a year after fees, one ends up with about $886,000; at 6%, the other has about $721,000. That is a gap of over $160,000 from a 1% difference.
Where people get caught out
- Switching after a bad year, often just before the recovery.
- Losing insurance when switching, which can be hard to replace.
- Holding several accounts and paying fees and premiums on each.