Are you ready to take control and compare your superannuation fund’s performance against other funds? You might be in luck if you have a MySuper fund as the ATO’s YourSuper comparison tool can help you compare different MySuper products and choose a superannuation fund that meets your needs.
What is a MySuper fund?
A MySuper fund is a low-cost superannuation product and is usually the default account for people who don’t choose their own superannuation fund when they start a new job.
Many large Australian Prudential Regulation Authority (APRA) regulated superannuation funds (ie, retail, industry and corporate funds) can all offer MySuper accounts to members in accumulation (ie, non- retirement) phase.
MySuper funds are simple accounts that generally have the following basic features:
YourSuper comparison tool
You can find out about and compare MySuper products by using:
If you can’t find your current account type within the MySuper products list, your account may not be a MySuper product. The best way to confirm whether your account is a MySuper product is by contacting your superannuation fund directly.
What the YourSuper comparison tool does
The YourSuper comparison tool can compare MySuper products based on only a few key differences.
In particular, the YourSuper comparison tool:
APRA assesses the annual performance of each MySuper product. As such, the investment performance column will provide one of the following results for each fund:
Using the YourSuper comparison tool
To access a personalised version of the tool which allows you to view and compare your existing MySuper products:
You can also access a non-personalised version of the YourSuper comparison tool without logging into myGov by:
Need more information?
If you need help comparing your superannuation fund or need assistance understanding how the comparison information relates to your circumstances, we are here to help, so please contact us for further information.