Australians are being urged to devote one hourthese holidaysto checkin ontheir super as a new survey revealsweٰܲoursuper fundsmore than any other financial institution.
“Jump onlinethese holidaysto checkyour super is working best for you andthatyour security settings are up to date.It takes less than an hour andcould makea big differenceto your retirement,” said ASFA CEOMary Delahunty.
“For a30-year-old, even the simple act of rolling three superannuation accounts, including one with higher fees,intoonelow-fee account could result in an extra $20,000in retirementand takes less than 20 minutes,” she added.
“That’s one extra fabulous holiday when you stop working for less time that it takes to hose the deck for Christmas day,” she added.
ר has todayalsopublishednewsurvey resultsrevealing Australianstrusttheir super fundsmore thantheir bank, the Governmentandinsurance companiestoact in their best interests.
The survey alsofoundmore than90 percent agreed that superannuation playsan important rolein ensuring financial wellbeing in retirementandnearly 80 percentof people trust their fund to make sound financial decisions.
“It’s heartening to see Australians place such trust in the super system and their super funds,” said Ms Delahunty.
“We all have a role in guarding that trust. The super sector has hada great yearfor financial returns and has also made meaningful improvements to the service members receive.
“In 2026super funds willcontinue toinvest to ensuremembers get the best possiblerisk-adjustedreturns, improveservicesandwork togethertokeep members’super safe.
“Members also have a role to play in making sure their superis working how they want it to and are keeping security settings up to date. The summer break is the perfect time to do this.”
Super summer check-in
ר recommends members take a few simple steps to check inon your super:
- Check your details are up to date:don’tmiss any important communications from your fund.Either login to your superannuation fund account orget in touch withyour fund through their call centre.
- Don’tuse passwords for your super account that you useelsewhere, andchangethemregularly:super is likely to be your biggest asset other than your home, so help to keep it safe.
- Assess if your investmentand insurancesettings are right:you could bemissing out onpotential savings ifyou’renot in the right type of investment for yourage and risk appetite. Equally,it’simportant to check you are getting theappropriateinsurancecover through your super fund for your life stage.
- Nominate a beneficiary to receive your super:while not a cheery Christmas topic,telling your fund who youwantto receive your super in the event of your deathhelpsmake sure yoursavingsgo where you wantthem toand can save your loved ones time and distress.
- Consider maximising your super contributions:you can have a total of $30,000 in tax-concessionalcontributions (including employer contributions)this yearso ifyou’renot on track to hit that ceiling,consider topping upyour contributions.
- Check if you have more superannuation fund accounts than you need:you can check online through yourmyGovaccount how many superannuation accounts that you have. If you have more than one think aboutconsolidatinginto your active account (but take intoaccountany loss of insurance cover that might happen). You canconsolidateaccountssimply online throughmyGov.
- Seek advice:most super fundsprovidegeneral adviceor limited financial adviceat no or low coston topics such as insurancecover, investment options and whether to makeadditionalcontributions. A little advice can go a long way.
4 in 5 are positive about their fund’s performance
Survey results*revealed today by ASFA show 79% of super account holders have a positive orvery positivelevel of satisfaction with their fund’s performance.
For FY24-25 typical growth superannuation products averaged a 10.5% return with a 7.1% average over the last ten years.
Theresults, taken from a sample ofover 1,500people,areconsistent across gender, age, education level,occupationand household income.
The two exceptions who have lowersatisfactionare peoplewho speak a language other than English at home, who have a satisfaction rate of 69%,and those who own no asset classes(such assharesorproperty) other than super. This grouphas a satisfaction level of 72%.
“These results show that Australians think super really is working for them, and also emphasise the benefits of choice in our super system. While four in five people are satisfied with their fund’s performance, those who aren’t are free to change fund or change their investment settings,” said Ms Delahunty.
“Theresultsalso show us that we have more work to do when it comes to some important groups including those whodon’tspeak English at home.”
When asked if superannuation playsan important rolein providing financial security in retirement more than 90% agreed. That rose to 96% amongst people who are retired, demonstratingthat people who have lived experience of life after work particularly value the role super play.
Another question asked which financial or government institution respondents trusted to act in theirbest interests. (Figure 1)
Super funds received the highest share of number one trust rankings and were also the most likely to be placed in respondents’ top three trust organisations.
Figure 1:
More analysis of ASFA’s survey can be found in the report The view of Australians on Superannuation providing financial security in retirement
Interviews with ASFA CEO Mary Delahunty on the report or on tips to maximise and secure super are available.
*The survey was conducted by in early 2025 on behalf of ASFA. The sample size was 1,507 Australian citizens aged 18 and older, and who were enrolled to vote and were representative of the Australian population
For further information, please contact:
ר media team
0451 949 300
mediaunit@superannuation.asn.au
About the Association of Superannuation Funds of Australia (ASFA)
ר, the voice of super, has been operating since 1962 and is the peak policy, research and advocacy body for Australia’s superannuation industry. ASFA represents the APRA regulated superannuation industry with over 100 organisations as members from corporate, industry, retail and public sector funds, and service providers. We develop policy positions through collaboration with our diverse membership base and use our deep technical expertise and research capabilities to assist in advancing outcomes for Australians.
We unite the superannuation community, supporting our members with research, advocacy, education and collaboration to help Australians enjoy a dignified retirement. We promote effective practice and advocate for efficiency, sustainability and trust in our world-class retirement income system.
